Later that year, Otten sought to purchase S-K-I Ltd., owners of Killington, Mount Snow, and Haystack, Vermont, Waterville Valley, New Hampshire, and controlling interest in Sugarloaf, Maine.
By the time the new millennium rolled around, Les Otten had left the company amidst a huge debt crises; their earnings had not kept pace with their growth.
As the huge debts racked up, ASC was forced to sell Heavenly to Vail Resorts, Steamboat to Intrawest,[3] and Sugarbush to a group of investors.
In January 2007, rumors surfaced that ASC might be in the process of selling Killington and Pico to Powdr Corporation, and Attitash and Mount Snow to Peak Resorts.
[3] Finally in July 2007, it was announced that American Skiing Company's last remaining and flagship resort, The Canyons had been bought by the Talisker Corporation for $100 million.