Intrawest: Difference between revisions
Jump to navigation
Jump to search
imported>Hifisamurai →Former resorts: Change of the name to official resort name. |
imported>Consigned →Latest resorts: past tense |
||
| Line 1: | Line 1: | ||
{{Short description|Defunct Canadian company}} | {{Short description|Defunct Canadian company}} | ||
{{Use mdy dates|date=December 2025}} | |||
{{Infobox company | {{Infobox company | ||
| name = Intrawest Resorts Holdings, Inc. | | name = Intrawest Resorts Holdings, Inc. | ||
| Line 15: | Line 16: | ||
| website = [http://www.intrawest.com/ www.intrawest.com] | | website = [http://www.intrawest.com/ www.intrawest.com] | ||
}} | }} | ||
'''Intrawest Resorts Holdings, Inc.''' was a developer and operator of [[Resorts#Destination resort|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, | '''Intrawest Resorts Holdings, Inc.''' was a developer and operator of [[Resorts#Destination resort|destination resorts]] and a luxury adventure travel company. The company was founded in [[Vancouver]], British Columbia, in 1976 as a privately funded [[real estate development]] company. In 2006, Intrawest was purchased by [[Fortress Investment Group]], a private equity investment company, and in 2011 relocated to Denver, Colorado. 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.<ref>{{cite news | url = https://www.reuters.com/article/idUSN2711793420100427?type=marketsNews | work=Reuters | title=Intrawest strikes refinancing deal with lenders | date=April 27, 2010}}</ref> | ||
In | In May 2017, it was announced that Intrawest would no longer exist as a public company after its acquisition by [[Henry Crown and Company]] and KSL Capital Partners. Intrawest resorts are now operated by [[Alterra Mountain Company]], which announced its new name at the 2018 Outdoor Retailer show in Denver, Colorado.<ref name=aspen-steamboat>{{cite web|last1=Blevins|first1=Jason|title=Inside look at the $1.7 billion deal that weds Aspen, Steamboat, Winter Park and Canadian Mountain heliskiing operation |url=https://www.denverpost.com/2017/05/09/aspen-steamboat-ski-area-merger/|newspaper=The Denver Post|date=10 May 2017 }}</ref> | ||
==History== | |||
== | Intrawest was founded in [[Vancouver]], British Columbia, by Joe Houssain.<ref>{{Cite news |url=https://www.theglobeandmail.com/report-on-business/new-intrawest-owner-could-break-up-firm/article4109896/ |title=New Intrawest owner could break up firm |last=Kennedy |first=Peter |newspaper=The Globe and Mail |date=August 12, 2006 |accessdate=December 13, 2025}}</ref> | ||
In 1986, Intrawest acquired [[Whistler-Blackcomb#Blackcomb Mountain|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-Blackcomb#Whistler Mountain|Whistler Mountain]] Ski Corporation to form [[Whistler-Blackcomb]] resort, a venue of the [[2010 Winter Olympics]] and Paralympic Games. Intrawest eventually spun off Whistler-Blackcomb and sold the last of its shares in that company in 2012. | In 1986, Intrawest acquired [[Whistler-Blackcomb#Blackcomb Mountain|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-Blackcomb#Whistler Mountain|Whistler Mountain]] Ski Corporation to form [[Whistler-Blackcomb]] resort, a venue of the [[2010 Winter Olympics]] and Paralympic Games. Intrawest eventually spun off Whistler-Blackcomb and sold the last of its shares in that company in 2012. | ||
The Intrawest network included [[Ski resort|mountain resorts]], the Club Intrawest [[Time share|private resort club]] with nine locations in North America, and Canadian Mountain Holidays, the largest heli-skiing operation in the world.<ref>{{cite web|url=http://www.canadianmountainholidays.com/about/our-story|title=Canadian Mountain Holidays: Our Story}}</ref> | |||
Intrawest was acquired by [[Fortress Investment Group]] in 2006,<ref>{{Cite web |url=http://skisoutheast.tv/article.php?table=article&mode=search&archived=0&article=1119 |title=A lot has been happening at Intrawest...and Snowshoe Mountain |archiveurl=https://web.archive.org/web/20110827095320/http://skisoutheast.tv/article.php?table=article&mode=search&archived=0&article=1119 |archivedate=2011-08-27 |work=SkiSoutheast News |date=August 14, 2006}}</ref> at which time CEO Houssain stepped down,<ref>{{Cite news |url=https://www.piquenewsmagazine.com/whistler-news/intrawest-founder-retires-2474285 |title=Intrawest founder retires |last=Barnett |first=Bob |newspaper=Pique Newsmagazine |date=November 3, 2006 |accessdate=December 13, 2025}}</ref> and the company was [[Delisting (stock)|delisted]] from the Toronto Stock Exchange and New York Stock Exchange. In 2011, the company relocated from Vancouver to [[Denver]], Colorado.<ref>{{Cite news |url=https://www.denverpost.com/2011/01/26/intrawest-moving-headquarters-to-denver-area/ |title=Intrawest moving headquarters to Denver area |last=Blevins |first=Jason |newspaper=The Denver Post |date=January 26, 2011 |accessdate=December 13, 2025}}</ref> | |||
On November 12, 2013, Intrawest filed an initial public offering | On November 12, 2013, Intrawest filed an [[initial public offering]] with the New York Stock Exchange to raise up to $100 Million.<ref>{{cite news | first = Howard | last = Pankratz | title = Denver's Intrawest Resorts files $100 million IPO | date = 2013-11-12 | publisher = [[Swift Communications]] | url = http://www.vaildaily.com/news/8876661-113/resorts-intrawest-ski-company | work = [[Vail Daily]] | access-date = 2013-11-12 | quote = Intrawest Resorts Holdings, which operates Steamboat Ski & Resort, Winter Park Resort and other ski resorts in the U.S. and Canada, has registered for an initial public offering seeking to raise as much $100 million}}</ref> | ||
In 2016, Intrawest initiated significant reductions in full time staff to achieve rapid cost reductions.<ref>{{Cite news|url=http://seekingalpha.com/article/4018861-intrawest-resorts-snow-ceo-tom-marano-q1-2017-results-earnings-call-transcript|title=Intrawest Resorts' (SNOW) CEO Tom Marano on Q1 2017 Results - Earnings Call Transcript|last=Transcripts|first=SA|date=2016-11-03|newspaper=Seeking Alpha|language=en-US|access-date=2016-11-23}}</ref> Numerous key staff positions have been eliminated at its corporate headquarters and resort locations. This follows the sale<ref>{{Cite press release|url=http://www.businesswire.com/news/home/20151125005060/en/Diamond-Resorts-International-Acquire-Intrawest-Resort-Club|title=Diamond Resorts International to Acquire Intrawest Resort Club Group {{!}} Business Wire|website=www.businesswire.com|date=25 November 2015 |access-date=2016-11-23}}</ref> of the Club Intrawest time share lodging operation to [[Diamond Resorts International]] at the end of 2015. It is unclear regarding the company's longer term strategies as it continues to display inconsistent approaches in its business and staffing model. In 2017, Intrawest was sold to Henry Crown and Company (which owns Aspen Skiing Company<ref>{{cite web|url=https://www.denverpost.com/2018/01/11/alterra-mountain-ksl-capital-partners-aspen-skiing-co/|title=The new name in ski resorts you need to know: Alterra Mountain|date=11 January 2018}}</ref>) and KSL Capital Partners for $1.5 billion.<ref>{{cite news|title=Intrawest ski resort firm to be sold for $1.5B US|url=http://www.cbc.ca/news/business/intrawest-aspen-ksl-1.4063705|access-date=10 April 2017|work=[[CBC News]]}}</ref> | In 2016, Intrawest initiated significant reductions in full time staff to achieve rapid cost reductions.<ref>{{Cite news|url=http://seekingalpha.com/article/4018861-intrawest-resorts-snow-ceo-tom-marano-q1-2017-results-earnings-call-transcript|title=Intrawest Resorts' (SNOW) CEO Tom Marano on Q1 2017 Results - Earnings Call Transcript|last=Transcripts|first=SA|date=2016-11-03|newspaper=Seeking Alpha|language=en-US|access-date=2016-11-23}}</ref> Numerous key staff positions have been eliminated at its corporate headquarters and resort locations. This follows the sale<ref>{{Cite press release|url=http://www.businesswire.com/news/home/20151125005060/en/Diamond-Resorts-International-Acquire-Intrawest-Resort-Club|title=Diamond Resorts International to Acquire Intrawest Resort Club Group {{!}} Business Wire|website=www.businesswire.com|date=25 November 2015 |access-date=2016-11-23}}</ref> of the Club Intrawest time share lodging operation to [[Diamond Resorts International]] at the end of 2015. It is unclear regarding the company's longer term strategies as it continues to display inconsistent approaches in its business and staffing model. In 2017, Intrawest was sold to Henry Crown and Company (which owns Aspen Skiing Company<ref>{{cite web |last=Blevins |first=Jason |newspaper=The Denver Post |url=https://www.denverpost.com/2018/01/11/alterra-mountain-ksl-capital-partners-aspen-skiing-co/|title=The new name in ski resorts you need to know: Alterra Mountain|date=11 January 2018}}</ref>) and KSL Capital Partners for $1.5 billion.<ref>{{cite news|title=Intrawest ski resort firm to be sold for $1.5B US|url=http://www.cbc.ca/news/business/intrawest-aspen-ksl-1.4063705|date=10 April 2017 |access-date=10 April 2017|work=[[CBC News]]}}</ref> | ||
In May 2017, it was announced that Intrawest would no longer exist as public company. The newly formed company is called [[Alterra Mountain Company]], which was announced at the 2018 Outdoor Retailer Show in Denver, Colorado.<ref | In May 2017, it was announced that Intrawest would no longer exist as public company. The newly formed company is called [[Alterra Mountain Company]], which was announced at the 2018 Outdoor Retailer Show in Denver, Colorado.<ref name=aspen-steamboat/><ref>{{cite web |last=Blevins |first=Jason |title=Details are scant, but big investments in Steamboat and Winter Park are coming | date=April 11, 2017 |newspaper=The Denver Post |url=https://www.denverpost.com/2017/04/10/intrawest-aspen-ksl-capital/ }}</ref> | ||
==Latest resorts== | ==Latest resorts== | ||
| Line 40: | Line 43: | ||
*[[Mont Tremblant Resort]], [[Quebec]] | *[[Mont Tremblant Resort]], [[Quebec]] | ||
*[[Canadian Mountain Holidays]], [[Alberta]] | *[[Canadian Mountain Holidays]], [[Alberta]] | ||
*[[Winter Park Resort|Winter Park]], [[Colorado]] (Intrawest | *[[Winter Park Resort|Winter Park]], [[Colorado]] (Intrawest was contracted to operate this city park owned by the City of Denver.<ref>{{cite web |last=Blevins |first=Jason |newspaper=The Denver Post |url=http://www.denverpost.com/2017/04/10/steamboat-winter-park-ski-resorts-acquired/|title=$1.5 billion deal rocks Colorado ski industry as Aspen Skiing Co. acquires Steamboat and operator of Winter Park resort|date=10 April 2017}}</ref>) | ||
*[[Zihuatanejo]], [[Mexico]] | *[[Zihuatanejo]], [[Mexico]] | ||
===Former resorts=== | ===Former resorts=== | ||
* [[Mont Ste. Marie]], [[Québec]] (February 2002<ref>{{cite news |title=Intrawest sells Mont Ste-Marie resort |date=2002|url=https://www.theglobeandmail.com/report-on-business/intrawest-sells-mont-ste-marie-resort/article18286843/ |work=The Globe and Mail|quote=Intrawest Corp. has sold its Mont Ste-Marie, Que., ski resort and golf course to Camp Fortune Resorts for an undisclosed amount. Vancouver-based Intrawest said it will retain about 2,000 acres of land at the base of the mountain for future development. The company acquired the resort in 1996.}}</ref>) | * [[Mont Ste. Marie]], [[Québec]] (February 2002<ref>{{cite news |title=Intrawest sells Mont Ste-Marie resort |date=2002|url=https://www.theglobeandmail.com/report-on-business/intrawest-sells-mont-ste-marie-resort/article18286843/ |work=The Globe and Mail|quote=Intrawest Corp. has sold its Mont Ste-Marie, Que., ski resort and golf course to Camp Fortune Resorts for an undisclosed amount. Vancouver-based Intrawest said it will retain about 2,000 acres of land at the base of the mountain for future development. The company acquired the resort in 1996.}}</ref>) | ||
* [[ | * [[Mammoth Mountain Ski Area]], [[California]] (October 2005<ref>{{cite news |first=Duffy |last=Hayes |title=Intrawest sells off Mammoth |date=2005-10-05 |url=http://www.summitdaily.com/article/20051005/NEWS/110050045 |work=Summit Daily News |access-date=2013-11-12 |quote=Intrawest announced the finalization of the sale of Mammoth Mountain Ski Area}}</ref>) | ||
* [[Whistler Blackcomb]], [[British Columbia]]<ref>{{cite press release|url=http://www.prnewswire.com/news-releases/ksl-capital-partners-acquires-24-interest-in-whistler-blackcomb-holdings-inc-181937291.html|title=KSL Capital Partners Acquires 24% Interest in Whistler Blackcomb Holdings Inc.|website=www.prnewswire.com}}</ref> | * [[Whistler Blackcomb]], [[British Columbia]]<ref>{{cite press release|url=http://www.prnewswire.com/news-releases/ksl-capital-partners-acquires-24-interest-in-whistler-blackcomb-holdings-inc-181937291.html|title=KSL Capital Partners Acquires 24% Interest in Whistler Blackcomb Holdings Inc.|website=www.prnewswire.com}}</ref> | ||
* [[Copper Mountain (Colorado)|Copper Mountain]], [[Colorado]] (November 2009) | * [[Copper Mountain (Colorado)|Copper Mountain]], [[Colorado]] (November 2009) | ||
Latest revision as of 15:46, 13 December 2025
Template:Short description Script error: No such module "Unsubst". Script error: No such module "Infobox".Script error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters". Intrawest Resorts Holdings, Inc. was a developer and operator of destination resorts and a luxury adventure travel company. The company was founded in Vancouver, British Columbia, in 1976 as a privately funded real estate development company. In 2006, Intrawest was purchased by Fortress Investment Group, a private equity investment company, and in 2011 relocated to Denver, Colorado. 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.[1]
In May 2017, it was announced that Intrawest would no longer exist as a public company after its acquisition by Henry Crown and Company and KSL Capital Partners. Intrawest resorts are now operated by Alterra Mountain Company, which announced its new name at the 2018 Outdoor Retailer show in Denver, Colorado.[2]
History
Intrawest was founded in Vancouver, British Columbia, by Joe Houssain.[3]
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. Intrawest eventually spun off Whistler-Blackcomb and sold the last of its shares in that company in 2012.
The Intrawest network included mountain resorts, the Club Intrawest private resort club with nine locations in North America, and Canadian Mountain Holidays, the largest heli-skiing operation in the world.[4]
Intrawest was acquired by Fortress Investment Group in 2006,[5] at which time CEO Houssain stepped down,[6] and the company was delisted from the Toronto Stock Exchange and New York Stock Exchange. In 2011, the company relocated from Vancouver to Denver, Colorado.[7]
On November 12, 2013, Intrawest filed an initial public offering with the New York Stock Exchange to raise up to $100 Million.[8]
In 2016, Intrawest initiated significant reductions in full time staff to achieve rapid cost reductions.[9] Numerous key staff positions have been eliminated at its corporate headquarters and resort locations. This follows the sale[10] of the Club Intrawest time share lodging operation to Diamond Resorts International at the end of 2015. It is unclear regarding the company's longer term strategies as it continues to display inconsistent approaches in its business and staffing model. In 2017, Intrawest was sold to Henry Crown and Company (which owns Aspen Skiing Company[11]) and KSL Capital Partners for $1.5 billion.[12] In May 2017, it was announced that Intrawest would no longer exist as public company. The newly formed company is called Alterra Mountain Company, which was announced at the 2018 Outdoor Retailer Show in Denver, Colorado.[2][13]
Latest resorts
Resorts owned at least in part by Intrawest included:
- Blue Mountain, Ontario
- Snowshoe Mountain, West Virginia
- Steamboat Ski Resort, Colorado
- Stratton Mountain Resort, Vermont
- Mont Tremblant Resort, Quebec
- Canadian Mountain Holidays, Alberta
- Winter Park, Colorado (Intrawest was contracted to operate this city park owned by the City of Denver.[14])
- Zihuatanejo, Mexico
Former resorts
- Mont Ste. Marie, Québec (February 2002[15])
- Mammoth Mountain Ski Area, California (October 2005[16])
- Whistler Blackcomb, British Columbia[17]
- 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)
References
- ↑ Script error: No such module "citation/CS1".
- ↑ a b Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
External links
Script error: No such module "Navbox". Template:Vancouver Corporations
Categories:
- Pages with script errors
- Hospitality companies established in 1976
- Companies based in Vancouver
- Companies formerly listed on the New York Stock Exchange
- Private equity portfolio companies
- Amusement park companies
- 1976 establishments in British Columbia
- Hospitality companies disestablished in 2017
- 2017 disestablishments in British Columbia