American Skiing Company Reviewing Strategic Options For Steamboat Ski Resort
PARK CITY, UT- Park City, Utah - American Skiing Company (OTCBB, AESK), one of the largest operators of alpine ski, snowboard and golf resorts in the United States, today announced that its Board of Directors has retained investment advisors to initiate a strategic review of business options for the Steamboat Ski and Resort Corporation in Colorado, including the potential sale of the resort.
"Steamboat's status as a world-renowned destination resort, combined with the financial performance generated by its tremendous management team and dedicated staff, have positioned the resort for success well into the future," said BJ Fair, American Skiing Company's CEO and President. "American Skiing Company is coming off its second straight record year which has created a number of opportunities for us to pursue. Given current positive market conditions and Steamboat's outstanding performance, the Board has decided to review potential alternatives with respect to Steamboat and engage financial advisors to assist in that process. Our intent is to drive the maximum value for the Company's stakeholders," Fair continued.
Steamboat, known for its genuine, western friendly atmosphere, family appeal, real western town and champagne powder, is consistently ranked the #1 family resort in the West. With one of the strongest and most recognizable brands in the ski industry, the resort has built a very loyal customer base allowing it to record over a million skier visits per year. The readers of SKI magazine traditionally rank Steamboat among the top ten resorts in North America.