By Bruce Lewis
OF THE RECORD STAFF
May 9, 2001
Two of the three major national players in the winter resort business announced cost-cutting measures late last
week, perhaps signaling a more general retrenchment in the industry, but two of three local ski area spokespeople
said that such moves aren't likely here.
American Skiing Company (NYSE: SKI) announced Friday that it had entered into an agreement with Marriott Vacation
Club International, a wholly owned subsidiary of Marriott International Inc. (NYSE: MAR) to sell its 85-percent
ownership interest in the entity that controls the development rights for the Heavenly Grand Summit quartershare
hotel adjacent to its Heavenly resort and in South Lake Tahoe, Calif.
Vail Resorts (NYSE: MTN) a day earlier had announced a consolidation of management and administrative functions
which it said were in response to changes in the travel and leisure industry.
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this entire article in The Park Record.