ASC plans auction

Canyons Grand Summit units to be sold

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American Skiing Co. will attempt to auction most, or all, of its remaining quartershare inventory at The Canyons Grand Summit Resort Hotel and Conference Center in Park City, Utah.

Rob Langenstein, vice president of sales for Grand Summit Resort Properties, said an auction of about 286 quartershares is scheduled for Feb. 7.

The hotel has 358 rooms representing 1,432 quartershares, and Langenstein said more than 77 percent of them have been sold.

The Canyons Grand Summit and the Steamboat Grand represent the balance of ASC's unsold, developed real estate.

American Skiing Co. spokesman Erik Preusse said the decision to auction the balance of the Canyons Grand Summit is a "one-off decision" and it should not be inferred that GSRP has similar plans for the Steamboat Grand.

"This was a decision made for the Canyons," Preusse said. "They are two distinct products. The Canyons Grand Summit is a more mature product. It's had about one more year of sales."

Preusse said one of the factors in the decision was the potential savings that will come from removing the need for an ongoing marketing and sales effort.

Like the Steamboat Grand, the Canyons Grand Summit is a full-service hotel with conference facilities and restaurants. The hotel was the home to NBC's Today show and nightly news broadcasts during the 2002 Salt Lake City Winter Olympics.

The sizes and configurations of units that will be available at the auction range from studios that sleep two, to three-bedroom units, to two penthouses. All are fully furnished and include kitchens.

Some of the units offer the chance to purchase all four quartershares, according to Langenstein. An on-site auction center will open at the resort Dec. 20, and more details can be obtained through the auction company's Web site, www.sheldongood.com.

This is not the first time ASC has used an auction to sell remaining inventory in a Grand Summit property. The company held a successful auction of 167 quartershares at its hotel in Attitash, N.H., in November 2001.

-- To reach Tom Ross call 871-4205

or e-mail tross@steamboatpilot.com

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