Echo Mountain, a ski resort 35 miles outside of Denver was scheduled to be sold in a sealed bid auction Thursday afternoon.
The auction closed with an undisclosed number of bids and the seller, Maryland hotelier Jerry Petitt and his family, now have a 10-day bid consideration period to evaluate and accept or reject the offers.
The small Idaho Springs resort expands over 226 acres of privately owned property.
Petitt bought, what was formerly known as the Squaw Pass ski area, in 2002. Since then he invested $8 million in improvements.
The auction did not have a minimum said Mark Troen, chief operating officer of Sheldon & Good Co., who managed the auction.
“These assets are so unique that it is really hard to pin a specific number on this deal,” Troen said.
The bid will determine the market price of the property, said Troen.
Echo Mountain is known for offering a more affordable option and for catering to a younger customer.
Michelle Zayed: 303-954-1720, mzayed@denverpost.com.
