SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


      Date of Report (Date of earliest event reported): March 26, 2002


                             AMERICAN SKIING COMPANY
             (Exact name of Registrant as specified in its charter)


  Delaware                      1-13507                    04-3373730
 (State or other               (Commission              (1.R.S. Employer
jurisdiction of                File Number)             Identification No.)
incorporation)


P.O. Box 450, Bethel, Maine                                       04217
(Address of principal executive offices)                        (Zip Code)


Registrant's telephone number, including area code:          (207) 824-8100

Former name or former address, if changed since last report: Not Applicable






Item 5. Other Events.

                  See Press Release attached as Exhibit 99.1 hereto.

Item 7.  Financial Statements and Exhibits.

         (c)      Exhibits.

     10.1 Purchase Agreement dated March 26, 2002 Heavenly Valley Ski & Resort
          Corporation,   American  Skiing  Company,  Heavenly  Corporation,   VR
          Heavenly I, Inc., VR Heavenly II, Inc. and Vail Resorts, Inc.

     99.1. Press Release issued by the Registrant on March 26, 2002.




                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                      AMERICAN SKIING COMPANY



Date:   March 27, 2002              /s/ Foster A. Stewart, Jr.
                                   ---------------------------------------------
                                     Name:      Foster A. Stewart, Jr.
                                     Title:     General Counsel and
                                                Secretary



                                  EXHIBIT INDEX


    Exhibit
      No.                              Description

     10.1 Purchase Agreement dated March 26, 2002 Heavenly Valley Ski & Resort
          Corporation,   American  Skiing  Company,  Heavenly  Corporation,   VR
          Heavenly I, Inc. and Vail Resorts, Inc.

     99.1. Press Release issued by the Registrant on March 26, 2002.