American Skiing Company
Encyclopedia
American Skiing Company was one of the largest operators of alpine ski
, snowboard
and golf
resorts in the United States
. Its resorts included Sunday River and Sugarloaf, in Maine
and The Canyons
in Utah
.
In 1980, Les Otten
, the son of a German immigrant, purchased the Sunday River resort for $840,000 from the Sherburne Corporation. Sunday River included one double chair and a couple of surface lifts at the time. Sunday River slowly grew to become New England's second most popular resort in the 1990s.
In 1994, Otten formed LBO Resort Enterprises Corp and purchased Attitash Bear Peak in New Hampshire
. By 1995, Sugarbush
, Vermont was added to the portfolio of LBO resorts.
In 1996, Otten purchased Mount Cranmore
in the Mount Washington Valley of New Hampshire. Later that year, Otten sought to purchase S-K-I Ltd., owners of Killington
, Mount Snow
, and Haystack
, Vermont, Waterville Valley
, New Hampshire, and controlling interest in Sugarloaf, Maine. Because of monopoly concerns, the company was only allowed to purchase Killington, Mount Snow, Haystack, and Sugarloaf. Upon acquiring S-K-I Ltd., LBO Resort Enterprises was renamed the American Skiing Company
By 1997, the company expanded west, buying Wolf Mountain in Park City, Utah
. It quickly was transformed into The Canyons, now the largest resort in Utah. In 1998, the company, now known as American Skiing Company went public on the New York Stock Exchange and purchased Heavenly
, California and Steamboat
, Colorado from Kamori International.
By the time the new millennium rolled around, Les Otten had left the company amidst a huge debt crises; their earnings had not kept pace with their growth. As the huge debts racked up, ASC was forced to sell Heavenly to Vail Resorts, Steamboat to Intrawest, and Sugarbush to a group of investors.
In January 2007, rumors surfaced that ASC might be in the process of selling Killington and Pico to Powdr Corporation
, and Attitash and Mount Snow to Peak Resorts
. It was later confirmed in a letter to the All For One pass holders that Mount Snow and Attitash had been sold to Peak Resorts and that Killington and Pico have been sold to SP Land Company, LLC, who will join with Powdr in a new venture to operate the two mountains.
In June 2007, ASC announced plans to sell Sunday River and Sugarloaf to Boyne Resorts
.
Finally in July 2008, it was announced that American Skiing Company's last remaining and flagship resort, The Canyons
had been bought by the Talisker Corporation for $100 million . This was the final resort sold by the American Skiing Company, in preparation for the dissolution of the company.
Alpine Ski
Alpine Ski is an Alpine skiing arcade game, released by Taito in 1981.- Description :The player controls a skier, who can move left, right, or increase forward speed. The aim is to maneuver a skier through a downhill ski course, a slalom course, and a ski jumping competition in the shortest time...
, snowboard
Snowboard
Snowboards are boards, usually with a width the length of one's foot, with the ability to glide on snow. Snowboards are differentiated from monoskis by the stance of the user...
and golf
Golf
Golf is a precision club and ball sport, in which competing players use many types of clubs to hit balls into a series of holes on a golf course using the fewest number of strokes....
resorts in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. Its resorts included Sunday River and Sugarloaf, in Maine
Maine
Maine is a state in the New England region of the northeastern United States, bordered by the Atlantic Ocean to the east and south, New Hampshire to the west, and the Canadian provinces of Quebec to the northwest and New Brunswick to the northeast. Maine is both the northernmost and easternmost...
and The Canyons
The Canyons
Canyons Resort is one of three alpine ski resorts located in Park City, Utah. With 19 chairlifts and over 4000 acres of skiable terrain, Canyons is the largest ski resort in Utah...
in Utah
Utah
Utah is a state in the Western United States. It was the 45th state to join the Union, on January 4, 1896. Approximately 80% of Utah's 2,763,885 people live along the Wasatch Front, centering on Salt Lake City. This leaves vast expanses of the state nearly uninhabited, making the population the...
.
In 1980, Les Otten
Les Otten
Leslie B. "Les" Otten , is the former CEO of the American Skiing Company. Since resigning as Chief Executive Officer in 2001, Otten has been involved in numerous other businesses and industries, including Major League Baseball's Boston Red Sox....
, the son of a German immigrant, purchased the Sunday River resort for $840,000 from the Sherburne Corporation. Sunday River included one double chair and a couple of surface lifts at the time. Sunday River slowly grew to become New England's second most popular resort in the 1990s.
In 1994, Otten formed LBO Resort Enterprises Corp and purchased Attitash Bear Peak in New Hampshire
New Hampshire
New Hampshire is a state in the New England region of the northeastern United States of America. The state was named after the southern English county of Hampshire. It is bordered by Massachusetts to the south, Vermont to the west, Maine and the Atlantic Ocean to the east, and the Canadian...
. By 1995, Sugarbush
Sugarbush Resort
Sugarbush Resort is a ski resort located in the Mad River Valley in Warren, Vermont. It is one of the largest ski resorts in New England. The resort encompasses more than 4000 acres total, 578 acres skiable, 53 miles of trails, and 16 ski lifts...
, Vermont was added to the portfolio of LBO resorts.
In 1996, Otten purchased Mount Cranmore
Cranmore Mountain Resort
Cranmore Mountain Resort is located in North Conway, New Hampshire. Currently, it is one of New Hampshire's most successful ski resorts.It was founded in 1937 by a group of businessmen, led by Harvey Dow Gibson a native son of North Conway and president of the Manufacturers Trust Company, who...
in the Mount Washington Valley of New Hampshire. Later that year, Otten sought to purchase S-K-I Ltd., owners of Killington
Killington Ski Resort
Killington Mountain Resort & Ski Area is a ski resort near Killington, Vermont. It is the largest ski area in the Eastern United States, and has the largest vertical in New England as well at 3050 feet.-History:In 1954, Perry H...
, Mount Snow
Mount Snow
Mount Snow is a mountain and ski area in southern Vermont located in the Green Mountains. It is Vermont's closest big mountain to many Northeast metropolitan areas. It was cohost of the first Extreme Games in 1995 and host of the Winter X-Games in 2000 and 2001...
, and Haystack
Haystack Mountain Ski Area
Haystack Mountain Ski Area was a mid sized alpine ski area located northeast of Haystack Mountain in Wilmington, Vermont.- Early operations :...
, Vermont, Waterville Valley
Waterville Valley Resort
Waterville Valley is a ski resort in the White Mountain National Forest of New Hampshire. The resort's motto is "Altitude without the Attitude". Built on Mount Tecumseh, with a summit elevation of above sea level, the ski trails extend to a high point on the south ridge of the mountain at ,...
, New Hampshire, and controlling interest in Sugarloaf, Maine. Because of monopoly concerns, the company was only allowed to purchase Killington, Mount Snow, Haystack, and Sugarloaf. Upon acquiring S-K-I Ltd., LBO Resort Enterprises was renamed the American Skiing Company
By 1997, the company expanded west, buying Wolf Mountain in Park City, Utah
Park City, Utah
Park City is a town in Summit and Wasatch counties in the U.S. state of Utah. It is considered to be part of the Wasatch Back. The city is southeast of downtown Salt Lake City and from Salt Lake City's east edge of Sugar House along Interstate 80. The population was 7,558 at the 2010 census...
. It quickly was transformed into The Canyons, now the largest resort in Utah. In 1998, the company, now known as American Skiing Company went public on the New York Stock Exchange and purchased Heavenly
Heavenly Ski Resort
Heavenly Mountain Resort is a ski resort located on the California-Nevada border in South Lake Tahoe. It has 97 runs and 30 lifts that are spread between California and Nevada and four base facilities...
, California and Steamboat
Steamboat Ski Resort
Steamboat Ski Area is a major ski area in northwestern Colorado, operated by the Steamboat Ski & Resort Corporation in Steamboat Springs. It is located on Mount Werner, a mountain in the Park Range in the Routt National Forest. The ski area first opened on January 12, 1963.The ski area has 165...
, Colorado from Kamori International.
By the time the new millennium rolled around, Les Otten had left the company amidst a huge debt crises; their earnings had not kept pace with their growth. As the huge debts racked up, ASC was forced to sell Heavenly to Vail Resorts, Steamboat to Intrawest, and Sugarbush to a group of investors.
In January 2007, rumors surfaced that ASC might be in the process of selling Killington and Pico to Powdr Corporation
Powdr Corporation
Powdr Corporation is one of the largest ski resort operators in North America, along with Boyne Resorts, Intrawest, and Vail Resorts. Unlike its competitors, Powdr focuses on ski area operations rather than real estate development. It is owned by the Cumming family and headquartered in Park City,...
, and Attitash and Mount Snow to Peak Resorts
Peak Resorts
Peak Resorts is a privately owned Missouri-company that operates ski resorts in the Midwest and Northeast United States.The company was founded in 1977 by Tim Boyd, two years after graduating the University of Missouri when he bought the Wildwood Golf Course in the suburban St. Louis, Missouri...
. It was later confirmed in a letter to the All For One pass holders that Mount Snow and Attitash had been sold to Peak Resorts and that Killington and Pico have been sold to SP Land Company, LLC, who will join with Powdr in a new venture to operate the two mountains.
In June 2007, ASC announced plans to sell Sunday River and Sugarloaf to Boyne Resorts
Boyne Resorts
Boyne Resorts is the third largest owner and operator of ski and golf resorts in the United States and is the longest running management team at nearly 60 years. The company employs over 7,000 fulltime and seasonal staff. It operates 13 resort properties - 10 ski resorts and 11 golf courses. The...
.
Finally in July 2008, it was announced that American Skiing Company's last remaining and flagship resort, The Canyons
The Canyons
Canyons Resort is one of three alpine ski resorts located in Park City, Utah. With 19 chairlifts and over 4000 acres of skiable terrain, Canyons is the largest ski resort in Utah...
had been bought by the Talisker Corporation for $100 million . This was the final resort sold by the American Skiing Company, in preparation for the dissolution of the company.