Squaw Valley USA Ski Resort Sold

By: STAFF Email
By: STAFF Email

Owners of the Lake Tahoe-area ski resort that hosted the 1960 Winter Olympics have agreed to sell Squaw Valley USA to a Colorado-based investment firm pledging $50 million in improvements over the next five years.

Company officials say that KSL Capital Partners LLC has agreed to acquire the majority of the shares of the Squaw Valley Development Co. Squaw Valley President Andy Wirth said the deal includes the ski operations, the Village at Squaw Valley and related real estate holdings.

Wirth says the price won't be made public, but confirmed KSL agreed to $50 million in capital improvements over three to five years.

He says the deal has the blessing of former president and CEO Nancy Cushing, widow of Squaw Valley founder Alex Cushing.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 110131069 - kolotv.com/a?a=110131069
Gray Television, Inc.