Okemo Mountain Resort to Purchase Crested Butte Resort

Tim and Diane Mueller, owners of Triple Peaks, LLC and
the Callaway and Walton families, owners of Crested Butte Mountain Resort,
LLC and its subsidiaries have announced that they have signed a Letter of
Intent for the purchase and of Crested Butte Resort and all of its assets.
Crested Butte is located in southwest Colorado in the town of Mt.
Crested Butte and is best known for its historic town, exciting nightlife
and some of the best extreme skiing in the world. The resort has 85
trails spread over 1,058 acres, with 14 lifts and receives over 240 inches
of natural snow each season.
Triple Peaks, LLC and Crested Butte Resort are finalizing a
Definitive Purchase and Sale Agreement, while Triple Peaks continues its
Due Diligence. This process should take about 30 days, and the closing
will occur between 3045 days from the signing of the Purchase and Sale
Agreement.
“Our vision for the future of Crested Butte Resort includes our
commitment to place guest service and the overall quality of the
recreational experience as a top priority," commented Tim Mueller. "We
look forward to our involvement with Crested Butte Resort and the
community, and see this as a unique opportunity for Triple Peaks, LLC to
offer three of the country’s finest resorts to our family of skiers and
riders.”
“My family has owned and operated Crested Butte Mountain for over
30
years,” said Edward Callaway, chairman of the CBMR board of directors,
“and consequently want everything to go right for the Gunnison/Crested
Butte community in the future. Consequently, we feel great about leaving
the resort with the Muellers, whose reputation in the ski industry for
service and innovation is unparalleled.”