Vail Resorts Gives Up Hunt for The Canyons
Vail Resorts Gives Up Hunt for The Canyons
[ October 27, 2009 - 7:12am ]
Resort world's big poppa no longer seeking control of Utah's biggest ski mountain
Looks like Vail Resorts is giving up its hunt of The Canyons resort in Park City, Utah. Vail had argued in a 2007 court filing that American Skiing Company, The Canyons' onetime owner, had agreed to sell the 3,700-acre resort to Vail; instead ASC sold it to Toronto-based Talisker Corporation. In another court filing last week, Vail signaled it is dismissing ASC from the 2007 suit, and stated that it is no longer seeking control of The Canyons -- though it left open the option of seeking monetary damages against Talisker. ASC dissolved in 2007, undergoing a massive fire sale of its resorts, including Mount Snow, in Vermont, Attitash in New Hampshire, and Sunday River and Sugarloaf in Maine; Vail Resorts has long sought a foothold in Utah.
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Well, to be fair, Colorado *is* getting dumped on like crazy right now, and I know I'm excited to hear about all the snow. And I get paid to ski!
VRI's in an interesting phase right now, they presold a large share of their season passes last spring to prop up the massive revenue they'd lost over the season, so right now, they must be scrambling to find something, anything, to prop up this quarter's earnings.
As snow is the only real news, I'm expecting a huge surge of "We have all the snow, huge amounts, tons and tons!" messaging from their PR staff in about 5-4-3-2....