Big News at the Canyons!

The headline news this past week is that the disputed sale of the Canyons resort to either Vail or Talisker is closer to being resolved. Both Talisker Corporation and Vail have been battling each other all summer for the rights to purchase the Canyons resort. Earlier in the summer, Talisker had announced that it had reached a deal with American Ski Corp., the current owner of the canyons to purchase the resort for $100 million. Immediately after this announcement, Vail resorts claimed that they had rights to purchase the resort and filed a motion in federal court in Denver to block the sale of the resort to Talisker. At the end of October, after hearing arguments from both sides, the federal court ruled that Vail had lost out in a fair, competitive bidding situation, and that the court would not block the sale of the Canyons resort to Talisker Corp. While there still are some hurdles to overcome, this was a significant step for Talisker to proceed with the purchase. Talisker is hoping to complete the purchase before the end of this year.

As a result, savvy investors are looking to properties at the Canyons resort, either the new developments at the base or vacant land in the Colony, as an excellent investment opportunity. With the federal reserve having cut interest rates again, and the overall real estate market slower than in the past years, this appears to be an excellent time to invest in Park City.