Search
 

Monarch Ski Area Being Sold to Local Group

DENVER-Katherine M. Meyer, the Steamboat Springs broker listing the project, says the prospective buyers would pay less than the $8.5 million asking price sought for the resort 157 miles south of Denver.

By John Rebchook | Updated on June 14, 2001

DENVER-The Hong Kong owner of the Monarch Ski and Snowboard Area, a small ski resort in south central Colorado, is under contract. If the group buys it this fall after completing its due diligence, it will mark the first time in more than a decade that the resort 157 miles south of Denver will be locally owned in more than 20 years.

”It’s been a long negotiations, but we are very pleased to have a part of the future of Monarch, not just its past,” says Richard Moorhead, general manager of Monarch, who is part of the group buying the resort, which has 670 acres of skiable terrain.

Last season, the resort, which sits on the Continental Divide west of Salida and south of Buena Vista, drew 147,266 skiers, one of its best years ever. Sixty percent of the visitors come from the Denver area or Colorado Springs and Pueblo. The resort area is about 120 miles from Colorado Springs.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.