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Cuchara Sale Still Pending

Cuchara Sale Still Pending

News
By the SAM Resort News
posted: 01/01/2000

Cuchara, CO, Dec. 14, 2000--(SAM Magazine) Published reports indicate Cuchara Mountain Resort might not open at all this year because a pending sale of the ski resort has not been finalized.

Dallas businessman John Lau, who holds the operating permit for Cuchara, closed the resort July 4 and put it up for sale, explaining it was difficult to manage from Dallas. As recently as last month, Lau was hoping to finalize the sale to a prospective buyer he said hoped to open it by the holiday week, but currently the lifts and slopes remain dormant because negotiations have apparently cooled.

Lau bought the resort, which has had six owners since opening in 1982, in 1997 for a reported $2.9 million and has invested an additional $1 million into it, including a new snowmaking system. The latest plan was to have included the sale of unrelated real estate to the new owner and then have Lau's current team keep the resort going through this season with the new owner presiding over the operating board. In the spring, the sale would have been finalized and the new owner would apply for a new operating permit from the San Isabel National Forest. But negotiations faltered.

According to a story in the Denver Post, Lau has recently begun negotiations with other prospective buyers.

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