Killington and Pico ski resorts sold
Killington
American Skiing Co. disclosed plans today to sell its Killington and Pico resorts in Vermont, only days after saying it has agreed to sell two other New England resorts.
American Skiing Co. of Utah said today it has entered a definitive agreement to sell Killington and Pico to SP Land Co. LLC, a major area land owner, for $83.5 million.
The company last week announced its plans to sell Mount Snow in Vermont and Attitash in New Hampshire for $73.5 million to Peak Resorts Inc. of Missouri.
"Killington has been in partnership with SP Land since 2004 on a number of developable real estate parcels in the Killington area," American Skiing Co. chief executive B.J. Fair said in a statement. "During the design and planning phase of the Killington Village, it became apparent that the developable real estate and resort operations should be controlled by a single owner. We believe this transaction is a tremendous step forward for the future development of Killington, Pico, and the surrounding area."
According to wire stories Friday on the Mount Snow and Attitash sale, American Skiing has been divesting resorts so it can invest heavily in the Canyons, its flagship 3,700 acre resort in Park City, Utah.
The proposed sale of Mount Snow and Attitash would leave American Skiing with five resorts, the wires reported, and today's announcement could reduce that number to three.
In December, American Skiing disclosed plans to sell a resort in Steamboat Springs, Colo., to a Canadian company, Intrawest Corp., for $265 million, the wire services have reported.
(By Chris Reidy, Globe staff)
