Judge won’t block sale of The Canyons
BROOMFIELD, Colo. Vail Resorts Inc. said Sunday it has spent $2 million since Aug. 1 on legal efforts to acquire The Canyons ski resort in Utah.Broomfield-based Vail Resorts also said a judge has denied its request for a preliminary injunction to block Talisker Corp. from closing its acquisition of The Canyons.American Skiing Co. said in July that it would sell the 3,700-acre ski area in Park City for $100 million to an affiliate of Toronto-based Talisker Corp. Vail Resorts has said it was working to acquire The Canyons before the sale was announced.”While we remain interested in The Canyons resort and are disappointed in the outcome of the preliminary injunction hearing, we respect the court’s decision,” Vail Resorts CEO Rob Katz said. “We will continue to pursue our legal rights related to this matter.”The company also said Sunday that its luxury hotel management company RockResorts International reached a final settlement of $13.5 million in a contract dispute with Cheeca Holdings LLC.Earlier, Vail Resorts said an arbitrator awarded RockResorts $8.5 million in damages after ruling that Cheeca wrongfully terminated a hotel management contract for Cheeca Lodge & Spa, formerly owned by Vail’s RockResorts International LLC.The $13.5 million includes fees and expenses that Vail had sought to recover from the dispute, Vail Resorts said.
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