Friends said that Max Dercum died at an assisted living facility in Evergreen. He was 98.

Dercum and his wife, Edna, were among a group of partners who developed Arapahoe Basin, which opened in 1946. They bought mining claims on the mountain for about $50 each. The first lift tickets at A-Basin cost $1.25 each

Keystone opened in 1970.

Edna Dercum died in 2008. Both are members of the Colorado and national Ski Hall Of Fame.

"Nobody had a greater love of skiing than Max Dercum," Bill Bergman, Dercum's long-time friend and co-founder of Keystone, told the Summit Daily News. "And probably nobody knew more about technique and equipment."

A-Basin Chief Operating Officer Alan Henceroth called Max Dercum a visionary.

Born in Cleveland on Oct. 2, 1912, Dercum was part of Cornell University's first ski team. He taught forestry at Penn State, where he coached the university's first ski racing team, according to the Hall of Fame.

"Max is leaving a legacy that will be remembered by all who enjoy skiing and riding Keystone Mountain today as well as for generations to come," Keystone general manager John Buhler said in a written statement.

"The Keystone and Vail Resorts family is grateful for Max's contributions and indelible mark on both Summit County and the ski industry," Buhler said.