Monarch emerged from bankruptcy in 1990 and was sold to Japanese businessman Hidiuki Nakamura. Little capital investment occurred during the Nakamura years. In 1996 Nakamura sold Monarch to Goodwin Gaw, a Chinese-American based in California. The wastewater plant was built during the Gaw years, along with fuel storage tanks and the Pioneer chair lift.
In 2002 a group of individuals led by Bob Nicolls purchased the ski area from Goodwin Gaw. The current ownership group has invested over $7million in Monarch Mountain, including the expanded and upgraded deck on the base lodge, the addition of the Rental and Lesson Center and the Junior Mountain yurt, the new mountaintop Patrol building, a new water storage system, 2 conveyor lifts for the Ski & Ride School, extensive paving in the parking area and many trail improvements including the opening of Mirkwood Basin. Extensive remodeling of the base lodge and Children’s Center, replacement of the aging rental equipment with a new fleet of skis, boots and boards, the purchase of a new Snowcat Tours snowcat, and a new lift terminal at the Garfield lift have also been accomplished. In 2011 a 450’ covered conveyor lift, the Caterpillar, was installed on Snowflake, and the Company’s ever-growing computer system was upgraded. Also on 2011 Monarch’s Master Development Plan was accepted by the US Forest Service, giving way to a 16,000 sq. ft. expansion of the base lodge, which began the summer of 2012. The acceptance of the MDP will also allow for further expansion of the parking lot and future development of No Name Basin on the west side of the Continental Divide, exemplifying this ownership group’s long-term commitment to the continued stability and improvement of Monarch Mountain.