As said in the article in the Burlington Free Press, this is no surprise, but it does make a skier wonder who will buy it, and how will it reflect on the resort itself.
AIG: Stowe Mountain Resort for sale
BY DAN MCLEAN, FREE PRESS STAFF • MAY 13, 2009
Stowe Mountain Resort, owned by AIG, is officially for sale.
AIG spokesman Peter Tulupman confirmed the ailing insurance giant is selling the iconic Vermont resort during an interview with The Burlington Free Press this morning.
Tulupman declined to comment on how much American International Group Inc. — which is mostly owned by the U.S. government after a sequence of federal bailouts in the wake of Wall Street’s collapse last fall— is seeking for Stowe which includes the lavish Stowe Mountain Lodge and the mountain’s operations.
AIG has received a surprising number of unsolicited bids from qualified buyers, Tulupman said. He declined to say who the potential buyers are or if any are from Vermont.
Stowe’s worth was estimated to be at least as much as Killington, which sold in 2007 for $85 million, Doug Nedde, co-owner of Bolton Valley resort, said last fall.......