Intrawest to buy Steamboat Ski & Resort
From the Associated Press
American Skiing Co. said it had agreed to sell Steamboat Ski & Resort Corp., one of the nation’s largest ski areas, for $265 million in cash to Canadian resort operator Intrawest Corp.
The move, which is subject to regulatory approval, would bolster Intrawest’s resort holdings in Colorado to three while helping American Skiing’s bottom line.
The sale would include the resort at Steamboat Springs about 110 miles northwest of Denver, some real estate assets, a hotel and the company’s interest in the Walton Pond Apartments. The privately held Intrawest also agreed to assume $4 million in debt. The deal is expected to close by March.
