Intrawest Sells Off All Shares in Whistler- Blackcomb

Steamboat Springs Ski Area

Steamboat Springs Ski Area

According to an article published in the Steamboat Today yesterday, December 4, 2012, Intrawest sells shares in Whistler Blackcomb to KSL Capital Partners of Denver,  Intrawest ULC, the parent company of Steamboat Ski and Resort Corp., has reached an agreement with an affiliate of KSL Capital Partners, the Denver-based owner of Squaw Valley and Alpine Meadows ski areas in California, to sell all of Intrawest’s remaining stock in the Whistler Blackcomb resort in Canada.

A news release issued by KSL and Whistler Blackcomb Holdings on Monday acknowledges that Whistler Blackcomb “understands that the Intrawest disposition is being made in conjunction with an Intrawest refinancing.”

It wasn’t immediately clear what impact, if any, the sale of Intrawest shares in Whistler Blackcomb would have on Steamboat Ski Area. Intrawest purchased Steamboat Ski and Resort Corp. for $265 million in March 2007. Since its purchase of the Steamboat resort, Intrawest has sold off a number of its resort interests, including Copper Mountain, two French resorts, Panorama Mountain Resort in British Columbia, a golf and beach resort in Florida and real estate holdings in Squaw Valley.

Intrawest continues to operate Mont Tremblant, Que.; Snowshoe, W.Va.; and Stratton, Vt.

I guess we won’t really know how this will affect the Steamboat Ski Area until the deal is done.  Let’s hope for something positive for Steamboat Springs out of this whole thing.  And some more snow, too!

Regards,

Charlie

 

 

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About SteamboatsMyHome.com

Originally from Seattle, Washington, Charlie relocated to Steamboat Springs with his wife Carol and their son, Finn, to become a Steamboat Springs realtor eager to share the joys of Colorado. Charlie is a second generation realtor and is proud to be a member of Steamboat Sotheby's International Realty in Steamboat Springs, Colorado. After graduating from Whitman College in Walla Walla, Washington, Charlie worked in the high-tech industry in Seattle for several years before deciding to follow his father's lead and began his career in real estate. Working for Windermere Real Estate in Seattle, Charlie had a great, innovative career in the highly competitive Seattle market before moving to Steamboat in 2005 and delving deep into Steamboat Springs real estate. At Steamboat Sotheby's International Realty, Charlie has become one of the top agents with his innovative style and tireless perseverance.
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