Anschutz buying parks hotel concessionaire
Gargi Chakrabarty
Wednesday, June 11, 2008
Denver billionaire Phil Anschutz is buying privately held hospitality company Xanterra Parks & Resorts for an undisclosed sum.
"The Anschutz Co. is impressed with Xanterra's outstanding reputation in environmental stewardship and in customer service which you have helped us achieve," Andy Todd, president and CEO of Greenwood Village- based Xanterra, told employees in a memo dated June 6.
The companies inked the deal June 5 and expect to close the transaction later in the fall.
Xanterra, formerly Amfac, employs 8,200 people. It runs concessions and lodgings in several national parks, including Yellowstone, Grand Canyon, Bryce Canyon, Zion, Death Valley, Rocky Mountain, and Mount Rushmore National Memorial.
Anschutz spokesman Jim Monaghan said, "We're a broad- based investment company. We like to make investments in strong, well-managed companies, and Xanterra is that."
Monaghan said Anschutz has no plans to change the structure or culture of Xanterra, including its properties.
In all, Xanterra operates 34 hotels and lodges with more than 5,000 guest rooms, 54 retail stores, 66 restaurants, three marinas, five golf courses and 1,800 campsites in national and state parks.
Anschutz has investments in telecommunications, professional soccer and the movie industry. One of his companies released the movie The Chronicles of Narnia: Prince Caspian, and its prequel Narnia I.
chakrabartyg@RockyMountainNews.com or 303-954-2976
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