Posted: Jun 3, 2011 1:35 PM by AP Posted by James H Egbert
DENVER (AP) - Thirteen seasons after Steve Bailey and his investment partner bought the Powderhorn ski area, the 1,600-acre western Colorado resort is being auctioned Aug. 4, with no minimum bid.
The 70-year-old Bailey says the resort is profitable. It's just time for him to retire. Next, the Powderhorn CEO and president plans to use his motor home to see more of the country with his wife.
Bailey says an auction seemed the fastest way to sell the resort for cash before next ski season. Bidders can buy the whole resort with four ski lifts, a lodge, 16-room inn, mountain operations building, equipment maintenance facility, dry storage building and an administrative building, or they can buy pieces.
Property records for the resort's address list a sales price in 1995 of $1.1 million.
(Copyright 2011 by The Associated Press. All Rights Reserved.)