American Skiing Company (ASC), through its subsidiaries, engages in the ownership and operation of resort facilities, real estate development companies, golf courses, ski and golf schools, retail shops, and other related companies. It also develops, markets, and operates ski-in/ski-out alpine villages, townhouses, condominiums, and ownership hotels. The company’s resorts include Killington, Pico and Mount Snow in Vermont; Sunday River and Sugarloaf/USA in Maine; Attitash in New Hampshire; and The Canyons in Utah. ASC offers various services, including lift ticket programs and season passes, as well as operates restaurants, bars, cafes, cafeterias, and other food and beverage outlets at its resorts. It also operates retail shops that primarily sell ski equipment and accessories, such as skis, snowboards, boots, goggles, sunglasses, hats, gloves, and larger soft goods, such as jackets and snowsuits. As of July 31, 2006, the company owned 70 retail and ski rental shops. In addition, ASC owns and operates eight Grand Summit Hotels and one whole-ownership condominium/hotel at The Canyons. It also owns lodging properties, hotels, and inns at various resorts, as well as manages these properties along with other properties owned by third parties. The company was founded in 1997 and is headquartered in Park City, Utah.