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March 16, 2007

Last Chance to Buy American

That is American Resorts. There are only three resorts left and American is considering selling the two in Maine leaving only The Canyons.

American Skiing Company announced that its Board of Directors has authorized the Company to conduct a strategic review of options for its Sunday River and Sugarloaf resorts, both in Maine, including the potential sale of the resorts.

"As a result of our recently announced resort sales, we've received a tremendous amount of interest in our remaining resorts. To ensure we maximize the value of these assets, we will commence a review of options for our Maine resort properties," said ASC President and CEO B.J. Fair. "With respect to The Canyons, we are continuing our efforts towards successful and favorable resolution of the litigation involving the resort," added Fair.

Mr. Fair also noted that American Skiing Company would only pursue a sale of one or both resorts if the valuation and terms presented from a potential buyer were favorable.

And why not? They are barely a ski company anymore. Why not bail on the other two?

Posted by Justin at March 16, 2007 10:51 AM