16 replies to this topic

[SkiBachelor]

Well, it looks like that ASC is selling off one of their resorts, Sugarloaf because they haven't been able to pay the loans on the resort. :---:

http://www.leelanaun...rial.php?id=487

[liftmech]

Is it just me, or can ASC not run a resort at a profit? Everywhere I turn, it's 'ASC havign problems', 'ASC selling area', et cetera.

[SkiBachelor]

I know they make money with Steamboat and that's why they don't want to sell it. I think they make money with Kmart and Sunday River too. But The Canyons is pretty big debt with all the money they put into that resort in the last few years.

[SkiBachelor]

Has anyone checked out ASC's stock lately? It selling for .13 cents a share I believe. :---:

Their ticker symbol is 'AESK'

Man, they are going down faster than I thought.

[floridaskier]

0.13 cents a share. Even US Airways is at about $4.50

[iceberg210]

Never skiing at the Canyon I can not voch for it as a resort but all I can say is that here in SLC it is the joke of what you don't want to do as a ski resort. The whole thing is a mess they put lifts where they didn't need any and have made some bad decisions.

They are on the upward swing though because as low as they were a little while a go the only way to go is up.

[SkiBachelor]

I dunno, they still continue to loose money and now can't afford to pay their loans. I have a feeling that Steamboat will soon be sold too. ASC dug themselves a hole so deep they can't get out of it now. But at 13 cents a chair, that's not very good at all. I don't think I would want to waste my 13 cents on a share that is a half of billion dollars in dept!

[orangegondola]

Asc is offering an all east season pass for $229 starting feb 29th good through June when Killington closes. Pass is good at all of their eastern reorts. You can trade in your unused me-tickets towards the pass at full face value. They have got to be hurting for cash, especially with the piss poor season we have had in the east.

I'll be cashing in my unused me-tickets and skiing through June for sure.

Considering I bought my main season pass to magic for $250 this makes for a pretty cheap season!

[SkiBachelor]

You can ski through June in Maine? That doesn't make any sense or does this offer have some other use, like summer lift rides for Mountain Biking?

What are me-tickets Dave?

[orangegondola]

Me-tickets are offered by the ASC god at any ASC resort. They are pre-purchased tickets available in groups of 6 or more. By pre-purchasing you save as much as $24 a ticket. For example mine were $46 each instead of $70.

You can ski through June 1st usually at Killington Vermont. They snowmake a big glacier on the superstar trail, however many years much of the resort is skiable until early May.

This post has been edited by orangegondola: 17 February 2004 - 09:07 PM

[jb15]

A little confusion here, that story refers to a ski area named Sugar Loaf, which is in Michigan, not Sugarloaf USA in Maine, the one that is owned by ASC. Sugar Loaf is the one being auctioned off.

[SkiBachelor]

Oh yea I see that now. My bad, I should have read the full article.

[orangegondola]

none the less, when offering $229 passes they have to be hurting.

[floridaskier]

Last year, ASC offered this season pass for (I think) locals for well under $200 at The Canyons

[campbmsu2]

sugar loaf in michigan is a tragic thing. that polselli guy is a half-mobster in the sense that he can't get his mob act right. he bought the resort but the owner kept the rights to the sewage, which polselli didn't know about because down in detroit they don't have septic systems. IDIOT. that's bankrupted him, that and his wife suing his ass once a month.


meanwhile, sugar loaf continues to rust and rot. i went hiking there this summer, sad day. i think i'll have to go get pictures this summer and create a michigan "nelsap."

[Eric]

We`re talking about Sugarloaf/USA in Maine. Not in Michigan

[SkiBachelor]

Oh no, it's Michigan that's up for sale. I messed up when I first posted this topic.