SAM Magazine-Steamboat Springs, Colo., June 3, 2009-Steamboat Ski and Resort pulled out of a joint venture that was planning to build a $7 million high-speed people mover gondola connecting the Wildhorse Meadows development and the public Meadow parking lot with the base area. Instead, Resort Ventures West (RVW), the Wildhorse developer, will install a slower, lower-capacity $3 million pulse gondola, expected to be ready late this year or early in 2010.

Steamboat president Chris Diamond said the resort pulled its support when its capital request was refused by parent company Intrawest. He cited the difficult condition of the capital markets for that decision.

Both Steamboat and RVW say that a higher-capacity lift may still be installed in the future. "We're just a victim of the current economic climate," Diamond told the Steamboat Pilot. "We want to do it. We're committed to doing it. Over the long term, we feel this is the right solution." \