Intrawest equity up for auction

Posted By: The Ski Channel on January 20, 2010 1:28 pm

Canadian based ski resort operator Intrawest (operating Whistler, Steamboat, Winter Park among others) was unable to make a debt payment last month. The consequence is that an equity stake in a unit of the company will now be auctioned off by the creditors. The auction will take place February 19th and be conducted by trustee Wilmington Trust FSB (appointed by the lender).

The equity will get the buyer stakes in Intrawest’s ski resorts in Colorado and in Whistler, a venue for the Vancouver Winter Olympics.

Intrawest also made the news recently for selling Colorado’s Copper Mountain resort to Powdr Corp from Utah.

CEO Bill Jensen said that although in talks with lenders, everything else at the resorts is “business as usual”.

Remember, you can access complete and total information about Intrawest resorts and almost every other resort in the country using our new Resort Rater. Click here to check it out!