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Steamboat Resort Buyer To Be Chosen Soon
A buyer for the Steamboat Ski & Resort Co. probably will be chosen by the end of next month, resort President Chris Diamond said Monday.
"The plan is to go to a definitive purchase and sale agreement in September," Diamond said by telephone.
Maine-based American Skiing Co., owner of The Canyons in Utah, is selling Steamboat to reduce the debt it incurred during a major expansion that coincided with two below-average ski seasons.
Diamond wouldn't say how many companies are bidding for Steamboat. The resort, 110 miles northwest of Denver in Steamboat Springs, is one of the nation's busiest with more than 1 million skier and snowboarder visits each season.
The interested companies will visit Steamboat during the next two weeks for a tour and a presentation from the resort's management.
Diamond said the company was pleased with the interest in the sale.
American Skiing's stock closed unchanged at $1 on the New York Stock Exchange on Monday.
-Salt Lake Tribune 8/7/01