Mt. Sunapee owners settle lawsuit over sale of Colorado’s Steamboat Ski Area

Park City, Utah: American Skiing Co. and Triple Peaks LLC, a group of investors led by the owners of Okemo in Vermont and operators of Mt. Sunapee in New Hampshire, announced that they have settled a lawsuit over the proposed sale of Colorado’s Steamboat Ski Area. Triple Peaks signed a contract in January 2002 to buy Steamboat from American Skiing for $91.4 million. American Skiing later backed out of the deal and decided to sell its Heavenly Ski Resort in California to Vail Resorts instead. Under the settlement, Triple Peaks agreed to dismiss all claims to Steamboat in return for an undisclosed cash settlement.