The Land Report

2019.1

The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

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CO U RTE SY O F SN OWBASI N R E SO RT DEALS OF /THEYEAR e Big Deal Snowbird founder Dick Bass bought Wasatch Peaks Ranch, which was then known as the Gailey Ranch, in 1997 with the intention of turning it into a ski resort. Eventually, Robert Earl Holding — owner of Idaho's Sun Valley Resort, Snowbasin Resort in nearby Huntsville, and Sinclair Oil — and Peter Hicks, an investor from Boston, became co-owners. "Bass and Holding were said to have been especially struck by the ranch's estimated 5,500 acres of potential ski slopes …" wrote Tony Semerad in a 2016 article for e Salt Lake Tribune. And if their dream of creating a ski area had come to frui- tion, Wasatch Peaks would rank among the top 've largest ski mountains nationwide. "It wasn't hidden that they owned it, these two huge resort guys," says Nathan Ra"erty, CEO of Ski Utah, which pro- motes the ski industry in the state. "It really is a special piece of property, and it's amazing that it is really untouched." But with the passing of Earl Holding in 2013 and Dick Bass in 2015, the ski resort that these two giants had dreamed of remained just that — a dream. In 2015, their heirs and Hicks put the tract on the market with a $46 million price tag. ›ey knew that such a unique and large landscape would require a buyer with a similar vision and extraordinary passion. Snowbasin Resort (shown here) sits just minutes north of Wasatch Peaks Ranch and was the site of the men's and wom- en's downhill courses during the 2002 Winter Olympics. 68 L ANDREP ORT.COM e LandReport | SPRING 20 19

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