Intrawest Resorts Holdings, Inc. was a developer and operator of

destination resorts Destination may refer to: Music *Destination (group), a disco studio group from New York *Destination (Eloy album), ''Destination'' (Eloy album), 1992 *Destination (FictionJunction Yuuka album), ''Destination'' (FictionJunction Yuuka album), 2005 ...

and a luxury adventure travel company. The company was founded in 1976 as a privately funded

real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parce ...

company. In 2006, Intrawest was purchased by

Fortress Investment Group Fortress Investment Group, LLC is an American investment management firm based in New York City. It was founded as a private equity firm in 1998 by Wes Edens, Rob Kauffman, Pete Briger, Michael Novogratz, and Randal Nardone. Overview When ...

, a private equity investment company, 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. 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. 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 Henry Crown (; June 13, 1896 – August 14, 1990) was an American industrialist and philanthropist. Among other things, he founded the Material Service Corporation, which merged with General Dynamics in 1959. At the time of his death, he was a b ...

and KSL Capital Partners. Intrawest resorts are now operated by

Alterra Mountain Company Alterra Mountain Company is an American hospitality company established in 2018 with headquarters in Denver, Colorado. It is privately owned by KSL Capital Partners and Henry Crown and Company, the owners of Aspen/Snowmass. It is a conglomerate ...

, which announced its new name at the 2018 Outdoor Retailer show in Denver, Colorado.

History

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 Aspen Skiing Company, known locally as Ski Co, is a commercial enterprise based in Aspen, Colorado. In 2023 it reorganized internally under a new umbrella company called Aspen One. The Aspen Skiing Company operates the Aspen/Snowmass resort ...

. The company later went public, listed on the Toronto and New York Stock Exchanges and, in 1996, merged with

Whistler Mountain Whistler Mountain ( Lillooet/Ucwalmícwts: Nsqwítsu) is a mountain in the Fitzsimmons Range of the Pacific Ranges of the Coast Mountains, located on the northwestern edge of Garibaldi Provincial Park. It is the location of the Whistler-Blac ...

Ski Corporation to form

Whistler-Blackcomb Whistler Blackcomb is a ski resort located in Whistler, British Columbia, Canada. By many measures, it is the largest ski resort in North America and has the greatest uphill lift capacity. It features the Peak 2 Peak Gondola for moving between ...

resort, a venue of the

2010 Winter Olympics The 2010 Winter Olympics, officially known as the XXI Olympic Winter Games () and also known as Vancouver 2010 (), were an international winter multi-sport event held from February 12 to 28, 2010 in Vancouver, British Columbia, Canada, with ...

and Paralympic Games. Intrawest eventually spun off Whistler-Blackcomb and sold the last of its shares in that company in 2012. Today, the Intrawest network includes mountain resorts. Intrawest also operate
Club Intrawest
a private resort club with nine locations in North America. The company is the largest developer and operator of resort properties in

North America North America is a continent in the Northern Hemisphere, Northern and Western Hemisphere, Western hemispheres. North America is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South Ameri ...

offering

skiing Skiing is the use of skis to glide on snow for basic transport, a recreational activity, or a competitive winter sport. Many types of competitive skiing events are recognized by the International Olympic Committee (IOC), and the International S ...

snowboarding Snowboarding is a recreational and competitive activity that involves descending a snow-covered surface while standing on a snowboard that is almost always attached to a rider's feet. It features in the Winter Olympic Games and Winter Paralym ...

golf Golf is a club-and-ball sport in which players use various Golf club, clubs to hit a Golf ball, ball into a series of holes on a golf course, course in as few strokes as possible. Golf, unlike most ball games, cannot and does not use a standa ...

mountain biking Mountain biking (MTB) is a sport of riding bicycles off-road, often over rough terrain, usually using specially designed mountain bikes. Mountain bikes share similarities with other bikes but incorporate features designed to enhance durability ...

, lodging, and real estate opportunities at each of its resorts. Intrawest develops real estate at its resorts and at other locations across North America. The company own
Canadian Mountain Holidays
the largest heli-skiing operation in the world. On November 12, 2013, Intrawest filed an initial public offering (IPO) with the New York Stock Exchange to raise up to $100 Million. Th

states that the money is being raised, "for working capital and other general corporate purposes, which may include potential investments in, and acquisitions of, ski and adventure travel businesses and assets." In 2016, Intrawest initiated significant reductions in full time staff to achieve rapid cost reductions. Numerous key staff positions have been eliminated at its corporate headquarters and resort locations. This follows the sale of the Club Intrawest time share lodging operation to

Diamond Resorts International Diamond Resorts is a wholly owned subsidiary of Hilton Grand Vacations. Diamond Resorts was an independent timeshare and vacation ownership company until it was purchased by HGV in 2021. Following the purchase, Diamond's resorts became part of HGV ...

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) and KSL Capital Partners for $1.5 billion. In May 2017, it was announced that Intrawest would no longer exist as public company. The newly formed company is called

, which was announced at the 2018 Outdoor Retailer Show in Denver, Colorado.

Latest resorts

Resorts owned at least in part by Intrawest included: * Blue Mountain,

Ontario Ontario is the southernmost Provinces and territories of Canada, province of Canada. Located in Central Canada, Ontario is the Population of Canada by province and territory, country's most populous province. As of the 2021 Canadian census, it ...

Snowshoe Mountain Snowshoe Mountain is a ski resort in the eastern United States, located in Snowshoe, West Virginia. The resort has skiable terrain across and covers a total area of in the Allegheny Mountains, which are a part of the vast Appalachian Mountain ...

West Virginia West Virginia is a mountainous U.S. state, state in the Southern United States, Southern and Mid-Atlantic (United States), Mid-Atlantic regions of the United States.The United States Census Bureau, Census Bureau and the Association of American ...

Steamboat Ski Resort Steamboat Resort is a major ski area in the Western United States, located in northwestern Colorado at Steamboat Springs. Operated by the Steamboat Ski & Resort Corporation, it is located on Mount Werner, a mountain in the Park Range in the R ...

Colorado Colorado is a U.S. state, state in the Western United States. It is one of the Mountain states, sharing the Four Corners region with Arizona, New Mexico, and Utah. It is also bordered by Wyoming to the north, Nebraska to the northeast, Kansas ...

Stratton Mountain Resort Stratton Mountain Resort is a ski area in the northeastern United States, located on Stratton Mountain in Stratton, Vermont, east of Manchester. History Stratton was established in December 1961 with three double chairlifts and a three-story ...

Vermont Vermont () is a U.S. state, state in the New England region of the Northeastern United States. It borders Massachusetts to the south, New Hampshire to the east, New York (state), New York to the west, and the Provinces and territories of Ca ...

Mont Tremblant Resort Mont Tremblant Ski Resort (commonly referred to as Tremblant) is a year-round resort in the Laurentian Mountains of Quebec, Canada, located about northwest of Montreal. It is best known as a Ski resort, ski destination, but also features Lake ...

Quebec Quebec is Canada's List of Canadian provinces and territories by area, largest province by area. Located in Central Canada, the province shares borders with the provinces of Ontario to the west, Newfoundland and Labrador to the northeast, ...

* Canadian Mountain Holidays,

Alberta Alberta is a Provinces and territories of Canada, province in Canada. It is a part of Western Canada and is one of the three Canadian Prairies, prairie provinces. Alberta is bordered by British Columbia to its west, Saskatchewan to its east, t ...

* Winter Park,

(Intrawest is contracted to operate this city park which is owned by the City of Denver.) *

Zihuatanejo Zihuatanejo (), and/or Ixtapa-Zihuatanejo, is the fourth largest city in the Mexican state of Guerrero. It was known by 18th-century English mariners as Chequetan and/or Seguataneo. Politically the city belongs to the municipalities of Mexico, m ...

Mexico Mexico, officially the United Mexican States, is a country in North America. It is the northernmost country in Latin America, and borders the United States to the north, and Guatemala and Belize to the southeast; while having maritime boundar ...

Former resorts

* Mont Ste. Marie,

Québec Quebec is Canada's largest province by area. Located in Central Canada, the province shares borders with the provinces of Ontario to the west, Newfoundland and Labrador to the northeast, New Brunswick to the southeast and a coastal border ...

(February 2002) *

Mammoth Mountain Ski Area Mammoth Mountain Ski Area is a ski resort in eastern California, located on the east side of the Sierra Nevada, Sierra Nevada mountain range within the Inyo National Forest. The resort is located in the town of Mammoth Lakes, California. The res ...

California California () is a U.S. state, state in the Western United States that lies on the West Coast of the United States, Pacific Coast. It borders Oregon to the north, Nevada and Arizona to the east, and shares Mexico–United States border, an ...

(October 2005) *

Whistler Blackcomb Whistler Blackcomb is a ski resort located in Whistler, British Columbia, Canada. By many measures, it is the largest ski resort in North America and has the greatest uphill lift capacity. It features the Peak 2 Peak Gondola for moving between ...

British Columbia British Columbia is the westernmost Provinces and territories of Canada, province of Canada. Situated in the Pacific Northwest between the Pacific Ocean and the Rocky Mountains, the province has a diverse geography, with rugged landscapes that ...

* Copper Mountain,

(November 2009) * Les Arcs 1950,

France France, officially the French Republic, is a country located primarily in Western Europe. Overseas France, Its overseas regions and territories include French Guiana in South America, Saint Pierre and Miquelon in the Atlantic Ocean#North Atlan ...

(October 2009) * Flaine Montsoleil development,

(October 2009) *

Panorama Mountain Village Panorama Mountain Resort is a ski and golf resort in Canada, located in the Purcell Mountains of southeastern British Columbia. Part of the Columbia Valley sub-region of the East Kootenay region, it is a tourist destination known for its rolling ...

(January 2010) *

Mountain Creek Mountain Creek is a ski resort in Vernon Township, New Jersey, Vernon Township, Sussex County, New Jersey, Sussex County, New Jersey, United States. It is located on New Jersey Route 94 in the New York Metropolitan Area, from the George Wash ...

New Jersey New Jersey is a U.S. state, state located in both the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. Located at the geographic hub of the urban area, heavily urbanized Northeas ...

(May 2010) * Sandestin Golf & Beach Resort,

Florida Florida ( ; ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders the Gulf of Mexico to the west, Alabama to the northwest, Georgia (U.S. state), Georgia to the north, the Atlantic ...

(March 2010) * The Village at Squaw Valley,

(January 2010)

References

External links

IntrawestClub IntrawestCanadian Mountain Holidays
{{Vancouver Corporations 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