ASC sells The Crayons

[Bunion 2020]

American Skiing Company Announces Sale of The Canyons Resort
PARK CITY, UTAH — July 16, 2007 — American Skiing Company (OTCBB: AESK) announced today that it had entered into a definitive agreement to sell its subsidiary ASC Utah, Inc., the owner and operator of The Canyons resort, located near Park City, Utah, to Talisker Canyons Finance Co. LLC, an affiliate of Talisker Corporation, for $100.0 million in cash. The purchase price is subject to various adjustments, as outlined in the purchase agreement. The transaction is not expected to result in any change in the status of currently pending litigation between The Canyons and Wolf Mountain (a landlord at The Canyons). The announced sale represents the planned disposition of the last major resort asset of American Skiing Company.
“This sale will complete a necessary step for American Skiing Company to wind down its affairs,” said ASC President and CEO B.J. Fair. “We at ASC and The Canyons have worked tirelessly to position the resort for success in the years to come. I am very proud of what we have accomplished, and look forward to the energy and vision that I expect Talisker to bring to the resort and community,” added Fair.
The Canyons is Utah’s largest winter resort. Its 3,700 skiable acres (fourth largest in the nation) are serviced by 17 lifts spread across eight mountain peaks. The AAA Four Diamond Grand Summit Hotel, Sundial Lodge and numerous other lodging, dining and retail options are located at the base of the resort. An 18-hole championship golf course and numerous resort amenities are expected additions to the resort in the coming years.
Talisker is a private real estate development and investment company in the resort development, residential, retail and commercial sectors operating in Canada, the United States, and Europe.
Talisker has significant assets in Park City where it has been developing resort real estate since 2000. In 2003 it added to its portfolio in Park City by acquiring United Park City Mines, a NYSE
listed company. For more information on the company’s developments in Park City go to www.taliskerclub.com.
The transaction is subject to several closing conditions, including certain consents, Hart-Scott-Rodino antitrust approval and stockholder majority approval of American Skiing Company. The transaction is expected to close on or before September 29, 2007.

[Stoysluttie1]

yep that's right glad i'm in with this company

[brutah]

damn you are fast with that.... my buddy who works at the canyons just called me to tell me, thought I'd be the first to announce this, but no....


I'm a little disappointed that Powder Corp (who owns PCMR) didn't buy the canyons, think of the mega resort that could have been....

[schindlerpiste]

I wonder whether this will be the first step to attempt to turn The Canyons into a Deer Valley type resort..








I sure hope not.

[Stoysluttie1]

I wonder whether this will be the first step to attempt to turn The Canyons into a Deer Valley type resort..








I sure hope not.

ummmm..have you seen what we are doing and the magnitude at which we are doing it?

[schindlerpiste]

elaborate?

Isn't Talisker about everything upscale? I just want to ski the pow. I don't need ahi tuna and kobe beef for lunch. Hopefully your company will add a lift from the SDL to the base of 9990. Now, that would be a worthwhile contribution of magnitude. Also, easier access to Home Run, MacDonald's and Easter would be nice!

[Hutch]

Honestly, I can't imagine how they could make it any worse than it already is.

[FartBag Commando]

Honestly, I can't imagine how they could make it any worse than it already is.

A satellite parking lot with a moving walk-way to the Cabriolet lift and more crime share salesmen to bother you on the way to the Gondola....

[PNWbrit]

[midget]

yep that's right glad i'm in with this company

yah dammit they didn't want me! i bet you are stoked you now have a free pass!

[Hutch]

A satellite parking lot with a moving walk-way to the Cabriolet lift and more crime share salesmen to bother you on the way to the Gondola....

I have such a shitty imagination.

[midget]

i'll add to that, maybe take out golden eagle, not replace it so there is one way up the mountain at the start of the day.

[schindlerpiste]

Seriously, in that regard, I heard that the plan is/was to replace Golden Eagle with a high speed 6 pack, and to change the loading location so that it is closer to the gondola. For me, this would suck, because more people would use it, and access the goods on Lookout bowl and Condor. I say, leave it the way it is, and add a lift from SDL to the base of the 9s.

[Hutch]

surprising that you are advocating building a lift from your house to the mid mountain.

Your plan still wouldn't help me get 6 runs in 1.5 hours on a pow day like I can at DV.

[midget]

Seriously, in that regard, I heard that the plan is/was to replace Golden Eagle with a high speed 6 pack, and to change the loading location so that it is closer to the gondola. For me, this would suck, because more people would use it, and access the goods on Lookout bowl and Condor. I say, leave it the way it is, and add a lift from SDL to the base of the 9s.

haha, they've been saying that since the time i started working there (which I don't now btw)...that was like 7 years ago!

[Benny Profane]

well, if I was in business school, I'd start writing a book about the sorry, sordid affair the history of ASC represented in modern finance. Ding Dong, the witch is dead.

[Evmo]

elaborate?

Isn't Talisker about everything upscale? I just want to ski the pow. I don't need ahi tuna and kobe beef for lunch. Hopefully your company will add a lift from the SDL to the base of 9990. Now, that would be a worthwhile contribution of magnitude. Also, easier access to Home Run, MacDonald's and Easter would be nice!

Herr Piste, you mean you dont want to schralp with these folks? (The photo was snagged from talisker site, i WISH i could also have snagged the accompanying music... amazing).

[powstash]

well, if I was in business school, I'd start writing a book about the shitty, sordid affair the history of ASC represented in modern business. Ding Dong, the bitch is dead.

fixed if for ya.

[cincystar]

god this thread just reminds me how much I despise the canyons. Every year I try to give them a fair shot but my day is always totally ruined by riding there. The mountains layout is HORRIBLE. I love having to take three chairlifts to ski the run I want to. And having to take three chairlifts to get from the parking lot(filled with the most gapers ever) to mid mountain....oh and I love all the whoopdedoos that form on the "groomed" main connecting runs. Oh and the flat terrain, thats the best part! Or how it takes me 2 hours to get from one side of the hill to the other. What a rediuclous resort i pity anyone who has to ski that shit hole on a regular basis.

[cincystar]

i didnt read any of the responses before I posted that so sorry for the rant.

But I see you are discussing adding new chair lifts? Could you add some more irrellevant lifts that take you to use less places and require two more lifts to get to anything decent to ski? Please keep with your plan already and more useless chairs to pointless places!! yay canyons.

[amatog]

Honestly, I can't imagine how they could make it any worse than it already is.

How about $50 student season passes instead of the $110 deal...the bottleneck at tombstone chair or whatever its called could possibly double.

There is a lot of good terrain there, hopefully it can only get better.

[801 jav]

god this thread just reminds me how much I despise the canyons. Every year I try to give them a fair shot but my day is always totally ruined by riding there. The mountains layout is HORRIBLE. I love having to take three chairlifts to ski the run I want to. And having to take three chairlifts to get from the parking lot(filled with the most gapers ever) to mid mountain....oh and I love all the whoopdedoos that form on the "groomed" main connecting runs. Oh and the flat terrain, thats the best part! Or how it takes me 2 hours to get from one side of the hill to the other. What a rediuclous resort i pity anyone who has to ski that shit hole on a regular basis.

My thoughts exactly... but in not so many words. Lets not ruin it for the asshole, arrogant, gapers from out of town that love that place

[Stuckina9toFive]

I had an uncle who use to sell crayons too. He imported them from South America.

[lax]

rabble rabble rabble