PARK CITY — Triple Peaks LLC and Park City-based American Skiing Co. on Monday announced the settlement of a lawsuit regarding the termination of the proposed 2002 sale of Steamboat Ski Resort in Colorado to Triple Peaks.
In return for an undisclosed cash settlement, Triple Peaks has agreed to a full dismissal of all claims relating to the Steamboat sale, the companies said in a prepared statement.
Triple Peaks signed a contract to buy Steamboat for $91.4 million on Jan. 24, 2002. However, American Skiing opted instead to sell its Heavenly, Calif., ski area to Vail Resorts.
In addition to Steamboat, American Skiing operates The Canyons in Park City; Killington and Mount Snow in Vermont; Sunday River and Sugarloaf/USA in Maine; and Attitash Bear Peak in New Hampshire.