Mammoth Ski Resort announced plans to sell the 4,000-acre property to Starwood Capital Group.
The area about 300 miles north of Los Angeles has been drawing about 1.4 million people a year.
The resort’s founder, Dave McCoy, started the resort in the late 1930s when he charged 50 cents for the mountain’s first rope tow.
There were only a half dozen people living in the area when he bought his first snowplow to allow year-round access.
Most visitors now come for what is viewed as the best skiing in Southern California.
Intrawest Corporation was the seller.
Report by David Wilkening
