Cirque Property Acquires Alyeska Ski & Summer Resort
SALT LAKE CITY, UT, December 4, 2006. Salt Lake City-based Cirque Property L.C. has acquired the Hotel Alyeska (formerly known as the Alyeska Prince Hotel), the largest year-round resort in Alaska, Alyeska Ski Resort, plus the management contract for Anchorage Golf Course and all other real estate holdings associated with the Alyeska Resort from Seibu Alaska, Inc.
Cirque Property L.C. is headed by managing member and avid outdoorsman John Byrne. Mr. Byrne is a single parent of two girls and a resident of Alta, Utah. The acquisition of Alyeska Resort is the culmination of a resort and real estate career that has spanned more than 20 years.
'We want to put the 'Alaska' back into Alyeska and provide the guest with a genuine Alaskan experience,' said Don McLean, representative of Cirque Property L.C. Mr. McLean, who will be assuming a prominent role in Alyeska's future, has two decades of experience in real estate construction and sales in Telluride, Colorado.
As for the expansion of the resort specifically, Mr. Byrne will be exploring the feasibility of new lifts that would reach the highest ridgelines within permit boundaries, expansion of Alyeska's existing 1,400 acres, and improved lift-assisted public access to backcountry terrain, especially the Winner Creek area adjacent to the resort.
'Having lived and skied for many years in Alta and Snowbird, I am a firm believer in an open backcountry policy,' explains Mr. Byrne about his philosophy regarding mountain access. 'And while I can assure you today that a beacon, shovel, probe and a partner will be required, we do intend to open Alyeska's boundaries when conditions permit.'
Mr. Byrne also recognizes that safety is extremely important to this level of backcountry access. 'Education and backcountry awareness need to become part of the equation as well,' Mr. Byrne says. 'On a personal level, I look forward to supporting the educational efforts of the community with respect to backcountry safety and awareness.'
The onsite management team of Cirque Property L.C. will consist of Doug Christensen, Chief Financial Officer of Cirque Property L.C.; Rich Eidem, a Teton Village, Wyoming-based entrepreneur and mountain sports enthusiast; Larry Daniels, Alyeska Resort's current General Manager of ski and golf operations; and Don McLean. Alyeska's future plans will include a strong push to make the resort family friendly and to enhance the day skier experience. Alyeska's summer recreational opportunities are also a priority. 'The potential for backcountry touring, lift expansion, Nordic trails, summer ski camps and mountain biking are beyond compare,' states Mr. Eidem.
Commenting on his most recent acquisition, Mr. Byrne notes, 'The extraordinarily high quality of existing staff, particularly senior management, has made all the difference in completing the transaction in an expeditious manner. I have been incredibly fortunate that the entire senior management team will stay on and help us move the Alyeska Resort into the 21st century.'
Chris von Imhof, Chief Executive Officer and Managing Director of Alyeska, expresses his enthusiasm of Alyeska's future direction. 'Our management staff welcomes Mr. John Byrne and his team,' Mr. von Imhof says. 'We believe Mr. Byrne's team of ski area, hotel and real estate experts will continue the development of Alaska's premier year-round destination resort in a tasteful, environmentally sensitive manner.'
Larry Daniels agrees, 'It is refreshing to see that Alyeska's new owners are onsite, energetic and committed to seeing Alyeska succeed.'
Pending transfer of permits and licenses, the official change of ownership takes place on December 1, 2006. In a statement by Mr. von Imhof he says, 'On behalf of the management and staff at Alyeska Resort, we would like to thank Seibu and Prince Hotels in Japan for their wonderful support over the last 26 years. Alyeska Resort and Alaska was fortunate that Seibu made such significant capital investments in our Alyeska Prince Hotel and Alyeska Ski Area.'
Terms of the financial arrangement between Cirque Property L.C. and Prince Hotels regarding the acquisition of Alyeska will remain undisclosed.
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