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American Skiing Company Announces Sale of Steamboat Resort for $265 Million.

Publication: PR Newswire
Publication Date: 19-DEC-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
PARK CITY, Utah, Dec. 19 /PRNewswire-FirstCall/ -- American Skiing Company (BULLETIN BOARD: AESK) announced today that it had entered into a definitive agreement to sell Steamboat Ski & Resort Corporation, in Steamboat Springs, Colorado, to Steamboat Acquisition Corporation, an affiliate of Intrawest ULC, for $265 million. The announced sale follows the review of strategic options for the resort announced in July.

Steamboat was the nation's eighth most visited resort in 2006, with over one million skier visits. Known as Ski Town USA(R), and renowned for its Champagne Powder(R), Steamboat was recently named the "#1 Family Resort in the West" by SKI Magazine.

Headquartered in Vancouver, British Columbia, Intrawest ULC is a privately held company that, together with its affiliates, has interests in ten North American mountain...

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