By Bruce Lewis
OF THE PARK RECORD STAFF
March 31, 2001
American Skiing Company's stock (NYSE: SKI) stood at $1.51 at the market's close Thursday, a mere 8.4 percent of
its initial public offering valuation of $18.00. The company had suffered through two poor-weather winters that
kept skiers and boarders away from its slopes. Oak Hill Capital Partners came in with a fresh infusion of funds,
for an equity stake in the company.
This season, things were looking better. American Skiing's resorts, now scattered from Maine to California, were
all enjoying more typical even record winter snowfalls and the visitors were returning to the slopes. The company
announced plans to merge with MeriStar Hotels and Resorts (NYSE: MMH) and rename itself Doral Resorts.
Events took a turn for the worse earlier this month. At separate meetings of the two companies' boards, MeriStar
and American Skiing both agreed to call-off the corporate nuptials. That decision was announced a week ago yesterday.
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