Colorado Springs News, Sports & Business

Vail offers to buy base Utah resort's assets

Associated Press - Published: March 27, 2014 0

DENVER — Vail Resorts is offering to buy base area assets from Park City Mountain Resort in the midst of a legal dispute over the lease to the rest of the resort.

The Denver Post (http://bit.ly/1iDGPF6 ) reports that Vail Resorts chief Rob Katz sent a five-page letter to the chief of Park City's parent company this week offering to pay fair market value for assets to help it operate the adjacent Canyons resort.

Powdr Corp. chief John Cumming said Wednesday the company wouldn't agree to a "Vail takeover."

Most of Park City's land is owned by Canada-based Talisker Corp. as is Canyons. Vail took over the lease dispute when it took over as operator of Canyons last March. The dispute is scheduled to go to court next week.

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Information from: The Denver Post, http://www.denverpost.com

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