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November 28, 2009

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Heavenly ski resort sale finalized

Thursday, Nov. 13, 1997 | 11:28 a.m.

The $288.3 million package purchase agreement, finalized Wednesday, also includes Steamboat Ski Resort in Colorado and Sabal Point Country Club near Orlando, Fla.

Kamori bought Steamboat in 1989 for a reported $110 million. A year later, the Sapporo, Japan-based corporation purchased Heavenly from an ownership group headed by Bill Killebrew, whose family had held majority ownership in the resort since 1964.

The addition of Heavenly and Steamboat to ASC's nine east coast resorts could push the company to the top of ski corporations in terms of visitors days at its resorts.

"We're doing this because we love the sport," said ASC chairman and CEO Leslie B. Otten in announcing the close of the sale.

ASC now owns and operates at least one resort located in each major United States skiing market. Combined, the resorts generated approximately 4.9 million skier and snowboarder visits in the 1996-97 ski season, more than 9 percent of the U.S. skier market for that year.

Besides Heavenly and Steamboat, ASC owns Sunday River and Sugarloaf/USA Ski Resorts in Maine, Attitash Bear Peak Ski Resort in New Hampshire, Killington/Pico, Mount Snow/Haystack and Sugarbush Ski Resorts in Vermont and The Canyons Ski Resort in Utah.

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