Intrawest
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| Type | Private |
|---|---|
| Founded | 1976 |
| Headquarters | Vancouver, British Columbia |
| Key people | Bill Jensen, chief executive |
| Owner(s) | Fortress Investment Group |
| Employees | 24,800 [1] |
| Website | intrawest.com |
Intrawest ULC is a developer and operator of destination resorts and a luxury adventure travel company. The company was founded in 1976 as a privately funded real estate development company. In 2006, Intrawest was purchased by Fortress Investment Group, a private equity investment company,[1] which resulted in the company being delisted from the Toronto Stock Exchange and New York Stock Exchange. Fortress was under financial pressure related to the Intrawest debt, but a new loan with a single lender was completed in April 2010 and all prior lenders were repaid in full.[2]
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[edit] History
In 1986, Intrawest acquired Blackcomb Mountain from the Federal Business Development Bank, a Canadian Crown Corporation, and Fortress Mountain of Alberta (no relation to Fortress Investments LLC), a wholly owned division of Aspen Skiing Company. The company later went public, listed on the Toronto and New York Stock Exchanges and, in 1996, merged with Whistler Mountain Ski Corporation to form Whistler Blackcomb resort, a venue of the 2010 Winter Olympics and Paralympic Games.
Today, the Intrawest network of resorts includes mountain resorts, as well as a warm-weather resort in Florida, Sandestin. Intrawest also operates Club Intrawest, a private resort club with nine locations in North America. The company is the largest developer and operator of resort properties in North America offering skiing, snowboarding, golf, mountain biking, lodging, and real estate opportunities at each of its resorts. Intrawest develops real estate at its resorts and at other locations across North America and in Europe. The company owns Canadian Mountain Holidays, the largest heli-skiing operation in the world.
[edit] Current Resorts
Resorts owned at least in part by Intrawest include:
- Blue Mountain, Ontario
- Snowshoe Mountain, West Virginia
- Steamboat Ski Resort, Colorado
- Stratton Mountain Resort, Vermont
- Mont Tremblant Resort, Quebec
- Whistler Blackcomb, British Columbia
- Winter Park, Colorado (Contract to operate this city park owned by the city of Denver.)
[edit] Former Resorts
- Copper Mountain, Colorado (November 2009)
- Les Arcs 1950, France (October 2009)
- Flaine Montsoleil development, France (October 2009)
- Panorama Mountain Village, British Columbia (January 2010)
- Mammoth, California (March 2006)
- Mountain Creek, New Jersey (May 2010)
- Sandestin Golf & Beach Resort, Florida (March 2010)
- The Village at Squaw Valley, California (January 2010)
[edit] References
- ^ See "A lot has been happening at Intrawest...and Snowshoe Mountain"; "SkiSoutheast News", www.skisoutheast.tv, August 14, 2006.
- ^ "Intrawest strikes refinancing deal with lenders". Reuters. April 27, 2010. http://www.reuters.com/article/idUSN2711793420100427?type=marketsNews.
[edit] External links
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