 | |
| Company type | Private |
|---|---|
| NYSE: SNOW | |
| Founded | 1976 |
| Defunct | 2017 |
| Fate | Merged |
| Successor | Alterra Mountain Company |
| Headquarters | Denver, Colorado, U.S. |
Key people | Tom Marano, CEO |
Number of employees | 13,900 |
| Website | www.intrawest.com |
Intrawest Resorts Holdings, Inc was 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]
In recent years, Intrawest has strengthened its cash flows, despite 2012 proving to be a challenging year for the American ski industry with warmer than normal temperatures and snowfall at 50% of historical averages.[3] Western Canada experienced above average and record snowfall amounts in some areas.
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.[4]
- ^ See "A lot has been happening at Intrawest...and Snowshoe Mountain" Archived 2011-08-27 at the Wayback Machine; "SkiSoutheast News", www.skisoutheast.tv, August 14, 2006.
- ^ "Intrawest strikes refinancing deal with lenders". Reuters. April 27, 2010.
- ^ "U.S. Ski Industry Tallies 51 Million Visits in 2011/12 Season". May 7, 2012.
- ^ Blevins, Jason (10 May 2017). "Reporter". Denver Post.