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Sale of Steamboat Resort

It's official!  It was announced on Tueday, December 19, 2006, by B.J. Fair, President and CEO of American Ski Corp, that an agreement to sell Steamboat to an affiliate of Intrawest for $265 million had been signed the night before.  The transaction is expected to close by the end of the current ski season, in March 2007. Prior to the close of the sale, Steamboat resort will continue to operate under the normal course of business without interruption.  This is great news for Steamboat Springs!  With new owners and an influx of cash, much needed improvements are expected to be made to the base area.  Local developers have started to increase prices on their unsold units on this news alone.  Investors are looking to secure properties.  Stay tuned...    Stacy Brown

4:00 AM - Dec. 21, 2006 - comments {0} - post comment
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