Aspen Times Staff Report
December 12, 2000
American Skiing Co., one of North America’s largest ski resort operators, agreed Monday to acquire hotel manager
MeriStar Hotels & Resorts in an all-stock transaction valued at roughly $185 million.
Parties to the merger hailed it as a way to ease the seasonal fluctuations of the ski business by combining it
with a segment of the hospitality industry that provides consistent cash flow and is not dependent on weather.
American Skiing, based in Newry, Maine, plans to issue 1.88 shares for each MeriStar share and rename the combined
company Doral International Inc., with headquarters in Washington, D.C. The deal, which is subject to shareholder
and regulatory approval, is expected to close in the first quarter of 2001.
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