Telluride 100 Percent Sold

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Telluride, CO, Mar. 2, 2001--(SAM Magazine) After becoming a joint venture partner in Telluride Ski & Golf in 1999, Morita Investments International has agreed to purchase 100 percent ownership of the ski area.

Morita Investments, owned by Hideo "Joe" Morita, also announced a $14 million investment for a new 733-acre bowl, which will include three detachable quads, buildings, snowmaking and new trails.

Jim Wells, co-owner of the resort for 22 years, announced his retirement after six years as president. Johnnie Stevens will assume his duties. Ron Allred, a former owner, will continue as chairman and CEO.