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American Skiing Sells Killington and Pico Ski Resorts

In a deal first reported at First Tracks!! Online on Feb. 6, American Skiing Company (ASC) announced today that it has entered into a definitive agreement to sell its Killington and Pico ski and snowboard resorts in Vermont to SP Land Company, LLC, a major area landowner, for $83.5 million. SP Land will partner with Utah's POWDR corporation in the purchase and operation of the two ski areas. The announced sale follows the recent announcement of ASC's sale of Mount Snow, Vt. and Attitash, N.H. resorts for $73.5 million and the December announcement of the planned $265 million sale of Steamboat resort. This leaves ASC with Sugarloaf/USA and Sunday River ski resorts in Maine and The Canyons in Utah as its only remaining holdings.

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