Arrowhead was a separate ski area unrelated to Beaver Creek for years before they were finally bought by Vail Associates in the early 1990s.

His two ski resorts, operated under the collective aegis of Vail Associates, had 1.8 million skier visits last season, compared to 1.65 million in 1986-87.

In 1983, he set out in earnest to acquire Vail Associates, with the encouragement of his family and company managers.

Gillett named him president of Vail Associates in March 1986, when he was 27 years old.

Shannon, the outsider, came in and cut employees at Vail Associates, reducing the real-estate division from 93 to 3.

The last piece of undeveloped land in the village center, one and a half acres worth $700,000, was donated by Beaver Creek's owners, Vail Associates.

"This industry saw a boom in the early 1970's and become almost complacent," said Patricia Peeples, director of media for Vail Associates.

"The big ski areas are getting bigger and the small ones are disappearing," said Jerry Jones, executive vice president of Vail Associates.

Vail Associates, for example, is spending $9 million this season for new chair lifts, a clubhouse, a racing center and other improvements.

Her husband, a supervisor for the Vail Associates ski patrol, graduated from Cornell University.