Report: Fortress exploring IPO for Whistler Blackcomb

Posted By: The Ski Channel on October 5, 2010 9:02 am

Winter enthusiasts who have taken even just a single trip to legendary Whistler Blackcomb often find themselves fantasizing of one day owning the popular Canadian ski resort. While now those same dreamers might have a chance to do just that; shares of Whistler Blackcomb may be issued in a public offering.

Fortress Investment Group LLC is reportedly exploring IPO plans for the British Columbia-based mountain resort according to The Globe and Mail, citing unidentified sources.

The newspaper says Fortress has hired bankers to examine all options including a sale to a private buyer, or the option that is looking increasingly likely – a public offering in the markets.

Given the incredible attention and goodwill generated from the recent 2010 Winter Olympics, Fortress hopes to cash in on the property that served as the alpine ski venue for the Games.

Under the terms of a potential sale, new owners would acquire Whistler’s ski terrain, lifts, leases on the hills, parking lots and lodges. The larger real estate holdings around Whistler are said to not be involved in the package, newspaper sources said.