Vail Resorts Inc. agreed to buy the Heavenly Ski Resort near Lake Tahoe on the Nevada-California border from American Skiing Co. for $96million to $99 million in cash.
Vail, which owns resorts in Vail and Beaver Creek, Colo., said it will spend $25 million over the next five years to replace lifts, add restaurants and improve the snowmaking system at Heavenly.
