Let the show begin | SteamboatToday.com

Let the show begin

Ski Corp. prepares to show off town to potential buyers

— Steamboat Ski and Resort Corp. officials on Wednesday put the final touches on a conference room that will be used to host and woo potential buyers of the Steamboat Ski Area.

Andy Wirth, vice president of marketing for Ski Corp., would not say Wednesday whether potential buyers or buyers representatives would be visiting the resort this week.

“I can’t say when or, of course, who,” Wirth said.

A similar “presentation room” was set up at the Steamboat Grand Resort Hotel four years ago, the last time the ski area was for sale. Five or six potential buyers groups visited the resort, he said. Tim and Diane Mueller were prepared to purchase the ski area for $91 million in 2002, but American Skiing Co. backed out of the deal at the last minute.

Wirth would not reveal exactly where the presentation room is this time around.

“The room is located on ski company property,” he said.

In the room, potential buyers will be shown marketing materials that have supported and promoted the ski area, Wirth said.

“We have pretty extensive audio and visual capabilities,” he said.

Documents and maps outline what property is leased and what property is owned by Ski Corp. A giant trail map measuring 46 inches by 52 inches also is in the room. There also is information about the urban renewal authority that is in place to help spur redevelopment at the base area.

The presentation room has Internet access and also will be used as a work area for potential buyer groups.

Wirth said he, Ski Corp. President Chris Diamond and representatives from investment and banking firm Bear Stearns will be meeting with the potential buyers, making presentations and taking them on mountain and resort tours. Bear Stearns has been retained by ASC to market the sale of the ski area and to advise the company.

Meeting with potential buyers is just another task that needs to be completed, he said.

“The primary focus is on nailing our business plan and hitting our targets,” Wirth said.

Included in the business plan is the completion of capital improvement projects worth more than $7 million and a continued focus on making Steamboat more accessible and a desirable destination by air.

– To reach Matt Stensland, call 871-4210 or e-mail mstensland@steamboatpilot.com

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