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 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 land and the sale of developed land or parcels to other ...

company. In 2006, Intrawest was purchased by

Fortress Investment Group Fortress Investment Group is an American investment management firm based in New York City. Fortress was founded as a private equity firm in 1998 by Wes Edens, Rob Kauffman, and Randal Nardone. When Fortress launched on the NYSE in February 200 ...

, 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 public company after its acquisition by Henry Crown and Company 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 o ...

, 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. The Aspen Skiing Company operates the Aspen/Snowmass resort complex, comprising four ski areas: Aspen Mountain, Aspen Highlands, Buttermilk, a ...

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

Whistler Mountain Whistler Mountain 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-Blackcomb ski resort and the town of Whist ...

Ski Corporation to form Whistler-Blackcomb resort, a venue of the

2010 Winter Olympics )'' , nations = 82 , athletes = 2,626 , events = 86 in 7 sports (15 disciplines) , opening = February 12, 2010 , closing = February 28, 2010 , opened_by = Governor General Michaëlle Jean , cauldron = Catriona Le May DoanNancy Greene Wayne G ...

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 and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and th ...

offering

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

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 Paralympic ...

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

mountain biking Mountain biking 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 and pe ...

, 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 timeshare company headquartered in Las Vegas, Nevada, with regional offices in Orlando, Florida and Lancaster, United Kingdom. The company has a network of more than 379 vacation destinations in 35 countries around the world a ...

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 KSL Capital Partners is a Private-equity firm based in Denver, Colorado specializing in travel and leisure investments. Many of the investments have involved Colorado ski resorts. Since its founding in 2005, the firm has raised more than $13 bill ...

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 one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Ca ...

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 R ...

West Virginia West Virginia is a state in the Appalachian, Mid-Atlantic and Southeastern regions of the United States.The Census Bureau and the Association of American Geographers classify West Virginia as part of the Southern United States while the ...

* Steamboat Ski Resort,

Colorado Colorado (, other variants) is a state in the Mountain West subregion of the Western United States. It encompasses most of the Southern Rocky Mountains, as well as the northeastern portion of the Colorado Plateau and the western edge of the ...

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 ba ...

Vermont Vermont () is a U.S. state, state in the northeast New England region of the United States. Vermont is bordered by the states of Massachusetts to the south, New Hampshire to the east, and New York (state), New York to the west, and the Provin ...

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 destination, but also features Lake Tremblant ...

Quebec Quebec ( ; )According to the Canadian government, ''Québec'' (with the acute accent) is the official name in Canadian French and ''Quebec'' (without the accent) is the province's official name in Canadian English is one of the thirte ...

* Canadian Mountain Holidays,

Alberta Alberta ( ) is one of the thirteen provinces and territories of Canada. It is part of Western Canada and is one of the three prairie provinces. Alberta is bordered by British Columbia to the west, Saskatchewan to the east, the Northwest T ...

* Winter Park,

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

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

Mexico Mexico (Spanish language, Spanish: México), officially the United Mexican States, is a List of sovereign states, country in the southern portion of North America. It is borders of Mexico, bordered to the north by the United States; to the so ...

* Deer Valley Resort, Utah

Former resorts

* Mont Ste. Marie,

Québec Quebec ( ; )According to the Canadian government, ''Québec'' (with the acute accent) is the official name in Canadian French and ''Quebec'' (without the accent) is the province's official name in Canadian English is one of the thirte ...

(February 2002) *

Mammoth A mammoth is any species of the extinct elephantid genus ''Mammuthus'', one of the many genera that make up the order of trunked mammals called proboscideans. The various species of mammoth were commonly equipped with long, curved tusks an ...

California California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the m ...

(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 (commonly abbreviated as BC) is the westernmost province of Canada, situated between the Pacific Ocean and the Rocky Mountains. It has a diverse geography, with rugged landscapes that include rocky coastlines, sandy beaches, for ...

* Copper Mountain,

(November 2009) * Les Arcs 1950,

France France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of Overseas France, overseas regions and territories in the Americas and the Atlantic Ocean, Atlantic, Pacific Ocean, Pac ...

(October 2009) * Flaine Montsoleil development,

(October 2009) * Panorama Mountain Village,

(January 2010) * Mountain Creek,

New Jersey New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delawa ...

(May 2010) * Sandestin Golf & Beach Resort,

Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and ...

(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