Crested Butte Ski Resort is Sold


Mt. Crested Butte, CO Jan. 7, 2004 - Tim and Diane Mueller, Owners of Triple Peaks, LLC have announced today that they have entered into a Definitive Purchase and Sale Agreement to buy Crested Butte Ski Resort from the Callaway and Walton families, owners of Crested Butte Mountain Ski Resort, LLC and it subsidiaries. Tim and Diane Mueller are the owners of Okemo Mountain Resort in Ludlow, Vermont, one of the largest and most successful ski and golf resorts in the East; and operators of Mount Sunapee Resort in Newbury, New Hampshire. By reinvesting in the infrastructure of the mountain and by recognizing the potential of the staff, both Okemo and Mount Sunapee have received national acclaim in both the snowsports and golf industries.

The Mueller's signed a Letter of Intent for the purchase of Crested Butte Ski Resort on October 28, 2003 and expect the completion of the sale to take place in late January or early February of 2004. "The qualitative aspect is, and has always been, the top priority with our family of resorts," commented Tim Mueller, owner of Triple Peaks, LLC. "We recognize the potential that exists with Crested Butte and are committed to placing guest service and the overall quality of the recreational experience as our top priority. Our vision for the future is to build upon the attributes of the mountain and community to reinforce its reputation for excellence."

"We're excited to move one important step closer to the sale", commented John Norton, President and CEO of Crested Butte Ski Resort. "Everyone here looks forward to the plans, energy and capital the Muellers will bring to Crested Butte."