American Ski Resort Company Plans To Expand Reach in Chile

Originally posted on Powder | By Ian Greenwood | Last updated Jul 3, 2025 2:33 PM ET

On Wednesday, the Durango-based company Mountain Capital Partners announced plans to become the controlling shareholder of Andacor S.A., which owns several ski areas in South America, including some in Chile’s famed Tres Valles region.

The proposed transaction could significantly expand MCP’s influence in South America, pending customary corporate and regulatory approvals.

One of the largest mountain groups in the United States, MCP owns and manages 17 ski areas, bike parks, and golf courses across the Southwest and Pacific Northwest.

In 2023, MCP entered the South American market when it became the majority owner of Valle Nevado, a popular ski resort located in the Tres Valles. One year later, the company bought Valle Nevado’s neighbor, La Parva, and now offers ten interconnected days at both ski areas with its multi-pass, the Power Pass.

The other two ski areas in the Tres Valles, El Colorado and Farellones, are owned by Andacor, which is also the majority shareholder of Pillán (Villarrica) and Volcán Osorno ski areas in southern Chile. The Tres Valles contain South America's largest concentration of lift-served skiable slopes.

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Mountain views of El Colorado.Photo: erlucho/Getty Images

Andacor was founded in the 1940s and has been managed by the Leatherbee family for 75 years.

“You cannot tell the story of skiing in Chile without the Leatherbee family,” said MCP managing partner James Coleman. “If approved, this partnership would honor that legacy, building on three generations of tradition to shape the next chapter of skiing in the Andes.”

According to MCP, Andacor has faced financial challenges, particularly after the COVID-19 pandemic. However, the company said that with its proven success and operational efficiencies, it can bring greater financial stability to Andacor.

“Our heart, hopes, and history have been in this business since my parents founded Andacor in 1949,” said Richard Leatherbee, who served as Andacor CEO for nearly 30 years. “This partnership would not only preserve the legacy of El Colorado, Parque Farellones, Pillán (Villarrica) and Volcán Osorno, it would create new opportunities to elevate and grow the skiing experience for generations to come.”

This article first appeared on Powder and was syndicated with permission.

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