Steamboat Suitors Announced

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Steamboat Springs, CO, Oct. 9, 2001 (SAM)--According to published reports, three companies are vying for ownership of Steamboat Ski and Resort Corp., which was put up for sale by the American Skiing Company (ASC) last spring.

The Denver Post reported last week that the owners of Okemo Mountain Resort, Vt., an investment firm called Goldner, Hawn, Johnson, and Morrison of Minneapolis and Babcock and Brown, another investment firm based in San Francisco, are all in the running. Representatives of the companies involved would not comment.

The Denver Post article noted that a source "close to the deal" speculated that both Intrawest and Powder Corp. are standing "on the sidelines awaiting the outcome of a possible bidding war." Resort industry analysts have said Steamboat could sell for between $125 million and $155 million.