Heavenly acquired by American Skiing Company

American Skiing Company (ASC) announced that it has acquired Heavenly Ski Resort in the Lake Tahoe area from Kamori Combined Entities, a Japanese investment company. The acquisition of Heavenly, in addition to bringing greater diversification to its winter resort business, enables ASC to further advance its reputation as the leading mountain resort operator in the United States. Mike Krongel advised ASC on the transaction.

Heavenly operates 29 lifts, including six high-speed lifts and the new $25-million, eight-passenger gondola that runs year-round; a snowmaking system that covers 69 percent of its mountain trails; seven dining facilities; a terrain park and a half-pipe; and six year-round and nine seasonal retail/rental shops. A complimentary shuttle system and ample parking serve the resort’s four separate base areas, two of which are located in California and two in Nevada. Heavenly has long been known for its staggeringly beautiful vistas and miles upon miles of cruising runs, steeps and bowls. Over the years, its superlative races and events made Heavenly a magnet for professional ski racers, celebrities and other colorful characters.

About Mirus Resort Capital:

Mirus Resort Capital provides investment banking solutions to corporate clients in the hospitality industry, specializing in cold weather resorts and ski areas, golf resorts, equipment manufacturing, and tour operations. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations. For additional information, visit www.mirusresortcapital.com.