Business News in Brief
Tourists coming in force over holiday weekend
The population of Steamboat Springs will more than double late this week as holiday skiers find their way to Mount Werner.
The lodging barometer produced by the Steamboat Springs Chamber Resort Association is making an early projection that 13,400 visitors will spend the night of Saturday, Dec. 27, in lodges here. The forecast was made Wednesday. The predicted 13,400 guests would fill 89 percent of the resort’s bed base.
Mountain hotels are expected to be 89 percent occupied Saturday, and mountain condos already are 91 percent full. There is ample room at downtown lodging properties — they are expected to be 57 percent full.
The forecast for Christmas Eve shows Steamboat lodges will be 57 percent full. Mountain hotels will be 67 percent full, but downtown motels will be just 26 percent full.
Financial markets respond to UAL
The Wall Street Journal reported recently that United Airlines, once believed to be a candidate for liquidation, has rebounded enough that two banks are vying to provide a huge loan to help the carrier complete its emergence from bankruptcy.
Sources said Citigroup Inc. and J.P. Morgan Chase & Co. in recent weeks gave UAL separate underwriting proposals for a government-backed loan of about $2 billion. United intends to name J.P. Morgan lead underwriter, with Citigroup as co-arranger, according to those sources.
Forest Service offices closed for Christmas
The Medicine Bow/Routt National Forest offices will be closed Dec. 25-26 and again Jan. 1 for New Year’s Day.
Media company takes on two investors
Family shareholders of Freedom Communications Inc. voted Wednesday to approve a partnership with two investment firms without giving up control of one of the last family-owned media companies.
The deal, which must still gain regulatory approval, allows some family members to cash out their shares.
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