By Robert Stern - The Tahoe Daily Tribune
May 8, 2001
Handshakes and smiles were exchanged at South Lake Tahoe City Council Chambers Monday.
The South Lake Tahoe Redevelopment Agency in a special meeting unanimously approved the transfer of development
rights from Heavenly Ski Resort's parent company to Marriott International to build the $100 million Grand Summit
Resort Hotel, slated for construction by June 1.
The amount paid to American Skiing Company for the development rights could not be disclosed, said Stan Hansen,
senior vice president for ASC.
The new quarter-share hotel project, which will be the first of its kind for Marriott, will have a new name which
has not yet been chosen, said Lew Feldman, attorney for the developer. The project, he said, will not be called
the Grand Summit.
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