Warning . . . I started reading about DV history . . . notes ahead about the family story. Wasn't exactly a mom&pop ski operation but was definitely a creation of a husband and wife who cared deeply about making Deer Valley special. Feel free to skip.
Edgar Stern Jr. and his wife, Polly, created Deer Valley in the early 1980s. Had plenty of money and experience in the hospitality industry. Erik Stein was part of Deer Valley from the beginning. Roger Penske and his were part-owners of the Stein Erickson lodge. Penske became a minority owner with 25% of DV in 1987. Edgar Stern died in 2008, a year after retiring. Polly Stern died in 2013. Stein died in 2015. Roger Penske had a health scare in 2005 when he was diagnosed with bladder cancer. (Heard of Penske Racing?)
It's clear that creating a ski resort was a dream and passion for Edgar Stern Jr. First he bought the land that eventually became Park City Mountain Resort, and then sold it to switch to Deer Valley. The actual owner is Royal Street Corporation, which Stern's father was leading for a long time. RSC goes all the way back to 1948 and invested in luxury hotels and resorts, charter airplane services, brewing companies, and restaurants.
https://www.royalstreet.vc/our-history-peopleLessing Stern is the youngest of Edgar and Polly Stern's children. He was the only child to move in 1968 with his parents from New Orleans to Aspen. He was a ski patroller in the 1980s. Also worked for a while as a heli ski guide with Powderbird Guides. He got actively involved with Royal Street in 1988 as a VP and took over as Chairman of the Board when his father retired in 2007. He lives in Park City.
In an article in SKI written in 2000, it was clear that Edgar and Polly wanted DV to stay the course after they were gone.
https://www.skimag.com/uncategorized/richman-poorman-the-deer-valley-way" . . .
With Stern in his seventies, the question of ownership succession is inevitable. "We are leaving Deer Valley in trust to a team that is charged with keeping it on this path for at least 10 years after we are gone," says Polly Stern, a gentle force whose concern for the comfort of guests equals Edgar's. . . ."EDIT: A look back in time . . . how Deer Valley and Beaver Creek were perceived in 1990. DV was having enough financial issues due to a slump in real estate in the mid-1980s that Stern considered selling. The money from adding Penske as a partner allowed DV to get over the rough patch.
http://articles.latimes.com/1990-10-21/magazine/tm-4421_1_deer-valley-beaver-creek-mogulsIn Colorado around that time, the owner of Vail and BC was about to file Chapter 11. That's how Rob Katz got involved with what became Vail Resorts Inc. VR's CEO from 1996-2006 is the man who started the acquisition phase before moving on (his choice) to other industries. (Adam Aron is currently CEO of AMC Entertainment.)
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