AMERICAN SKIING COMPANY STOCK HITS DOWN-HILL RUN
STEAMBOAT SPRINGSThe stock price of American Skiing Company, owner of the Steamboat ski area, flirted with its all-time low Friday afternoon, but rallied in the last hour of trading on the New York Stock Exchange, and finished at 52 cents a share. The stock had dipped below 50 cents a share at midday.
ASC went public in November 1997, with its stock trading at $17 a share.
SKI lost 19 cents, about 26 percent of its value, from Thursday’s close.
Volume was relatively heavy for ASC’s stock, with 792,800 shares changing hands.
ASC officials had hoped to close the sale of the Steamboat ski area before the first of the year. However, during a first quarter earnings report earlier this month, CEO B.J. Fair said the tightness of the capital markets has impeded the sale.
SOUTH ROUTT EXPRESS NOW IN SERVICE TO STEAMBOAT SPRINGS
STEAMBOAT SPRINGSThe South Routt Express began serving riders in Yampa, Phippsburg and Oak Creek on Dec. 17. The bus runs daily except Sunday. The South Routt Express bus service leaves the Yampa Post Office at 6:35 a.m., the Phippsburg Post Office at 6:40 p.m. and the Oak Creek Post Office at 6:45 a.m. The bus arrives at the Gondola Plaza Transit Center at 7:30 a.m. and proceeds to the Alpine Taxi base with intermediate stops by request. The bus leaves the Alpine Taxi base at 5 p.m. and the Gondola Plaza Transit Center at 5:15 p.m. and proceeds to Oak Creek, Phippsburg and Yampa.
VISITORS EXPECTED TO PACK STEAMBOAT FOR THE HOLIDAY
STEAMBOAT SPRINGSResort officials expect pre-Christmas crowds this weekend to lag 3 points behind last year at this time. And although the tourism gap will widen by the day after Christmas, the decline will narrow again by the last weekend in December.
More than 12,000 people are expected here Dec. 29, and condominiums at the ski area will be close to full.
“We’re flat out slammed until the tenth of January,” Steamboat Resorts President Bob Milne said. “If you were to call our toll-free number today looking for a seven night stay beginning Dec. 26, we’d be hard pressed to find anything.”
Milne’s company manages 525 condominium units.
Traditional motels are also seeing heavy traffic the weekend after Christmas.
“We’re almost at 100 percent occupancy Dec. 28-30,” David Bradshaw said. He’s manager of the Super 8 Motel on Steamboat’s south side.
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