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American Skiing Co. Announces Plans to Sell Steamboat!

the-canyons.jpgAmerican Skiing Co announced that it plans to sell the nation’s eighth most visited resort to an affiliate of Intrawest ULC for $265 Million cash which will be used to pay off all existing senior debt and revolver balances.  

This cash infusion will allow American Skiing Company to move forward with development plans for The Canyons and its other resorts in
Vermont,
New Hampshire, and
Maine.
 

Improving and upgrading The Canyons has been a top priority for the Company with additional investments in the last year in the
Tombstone, Dreamcatcher and Red Pine areas.
 

There are currently numerous residential and resort development projects underway at the base of The Canyons and construction of the long awaited golf course may start in the spring.

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