Oct 3, 2009 9:30 AM by Associated Press
Vail Resorts says lifetime ski pass owners who wanted to rent the passes to others have agreed to settle their lawsuit.
Vail Resorts spokeswoman Kelly Ladyga says the pass owners agreed Friday to drop their claims. A trial was under way. Ladyga says each side is paying its own legal fees.
More than 20 people with lifetime passes at Colorado's Keystone ski area sued, asking a judge to order Vail Resorts to honor rented passes and award them punitive damages for lost rental income.
Early investors in the resort were granted lifetime passes, and some of those pass holders make extra cash by renting them. Vail Resorts bought Keystone in 1996 and announced in 2006 it would no longer honor the passes if they were rented out.