American Skiing

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. All American Skiing Company resorts have a Grand Summit Hotel, a condominium-hotel in which investors were to buy a quarter of a year ownership of the hotel room units. The income from these condo quarter-shares was intended to be key to finances of the company.

...
Wikipedia