LES OTTEN, MORE PROFIT: AMERICAN SKIING CO. REPORTS GAINS
ME-based American Skiing Co. announced that total
revenues for the second quarter, ended January 25, increased
to $115.3M from $61.2M for the comparable period last year.
Net income for the second quarter of '97 was $6.6M, versus
$.4M for the prior year. Resort revenue, which excludes
revenues from real estate properties, increased to $107.4M
from $59.4M in the second quarter of '96. America Skiing
Co.'s total skier visits increased by 10.9% (ASC).
MORE ON LES: In Boston, Stephen Jermanok profiled
American Skiing Chair & CEO Les Otten: "The jury is still
out on whether Otten has improved the American ski
experience ... but even the purists admire what he has done
to keep the sport alive. ... No one in the ski industry will
be surprised if ASC continues to gobble up more ski resorts
around the country. As its stock filing states: 'The
Company intends to consider acquisitions of large, well-
established destination resorts'" (BOSTON MAGAZINE, 2/98).