Mount Snow Ltd. said Thursday it has completed the sale of Haystack Ski Resort in Vermont to a group of local businesspeople known as Tyringham Ridge.
The sale is for $5 million, and the agreement includes a two-year right of first refusal on some nonoperational lands owned by Mount Snow.
Proceeds to Mount Snow Ltd. and Park City-based American Skiing Co. from the sale are expected to be used for additional liquidity, to fund capital expenditures and reduce senior debt, as permitted under American Skiing's senior credit facilities.
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American Skiing operates Killington and Mount Snow in Vermont, Sunday River and Sugarloaf/USA in Maine, Attitash in New Hampshire, Steamboat in Colorado, and The Canyons in Park City.