Posts tagged intrawest
Intrawest Pulling an ASC?
01 year ago
by Eric Hoffman
in article
According to an article in the Wall Street Journal, Intrawest is now exploring the sale of Whistler Blackcomb, it’s crown jewel, just a few short months after the 2010 Olympic Winter Games were hosted there. Not many years ago, the now defunct American Ski Company, sold off property after property until it consisted of just The Canyons, which was what ASC considered to be it’s flagship resort. In recent months, Intrawest has renegotiated it’s mammoth debt and sold off numerous properties including:
- Copper Mountain, Colorado (November 2009)
- Les Arcs 1950, France (October 2009)
- Flaine Montsoleil development, France (October 2009)
- Panorama Mountain Village, British Columbia (January 2010)
- Mountain Creek, New Jersey (May 2010)
- Sandestin Golf & Beach Resort, Florida (March 2010)
- The Village at Squaw Valley, California (January 2010)
Including Whistler Blackcomb, Intrawest still has full, or partial ownership of seven mountain resorts, heli skiing operations, a beach property in Sandestin, Florida as well as the private resort club called Club Intrawest. Without Whistler Blackcomb in it’s portfolio, it would seem financially the company should be in better financial shape, but without a key property to be it’s headliner. It will be interesting to see if Intrawest fares better than ASC did.
(Resort ownership information was pulled from the Wikipedia Intrawest article.)
Photo credit: Flick user Tim in Sydney via Creative Commons 2.0 Attribution license
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A Ski Resort to Help Build Peace in Russia?
11 year ago
by Eric Hoffman
in article
According to reports, Russia is planning to spend up to $15.5 billion to develop a whole network of ski resorts in the volatile North Caucasus region over the next 10 years. I’ve always liked to believe that skiing can help to bond and bring people together – I’d certainly love to see that happen on a larger scale. The one thing that I wonder about is how many investment banks and private investors will still be willing to put significant sums of money into ski area development, based up on the recent success, or lack thereof, of new resorts (at least here on the North American Continent).
The Montreal Gazette writes:
MOSCOW – Russia aims to build a $15.5 billion ski resort complex in its mainly Muslim North Caucasus region, where an Islamist insurgency claimed the lives of almost 1,000 people last year, a business forum said on Friday.
Read more: http://www.montrealgazette.com/
It’s pretty cool, in my opinion, to see a country like Russia pushing ski resort development as a way to stimulate economic growth. Is this something that the US should be looking at, or is it the wrong move at the wrong time, after the failure of Tamarack and the stumbling of Intrawest?
Photo Credit: Flickr user acidka via CC attribution 2.0 license
