New England Ski Presence: 1994-present
Intrawest dates back to 1976, when it was started by Joe Houssian as a Canadian real estate development company. The company entered the ski industry in the mid 1980s when it purchased Blackcomb Mountain. A few years later, Intrawest acquired Mont Tremblant in Quebec.
Intrawest entered the New England ski industry in 1994 when it purchased Stratton Mountain from Victoria USA, Inc. Within the new few seasons, four high speed detachable six person chairlifts were installed.
Around this time, Intrawest purchased Whistler Mountain and merged with Blackcomb. In addition, Snowshoe Mountain in West Virginia was acquired, as well as a stake in Mammoth Mountain in California.
In 1999, Intrawest became part owner of Blue Mountain in Ontario. A few years later, Intrawest became operator of Winter Park in Colorado.
On October 26, 2006, Fortress Investment Group LLC purchased Intrawest for $2.8 billion. Fortress then went public in February of 2007.
On March 1, 2007, American Skiing Company sold Steamboat to Intrawest for $265 million.
Dealing with financial issues, Intrawest began unloading properties in late 2009. Copper Mountain was sold November 2009, followed by Mountain Creek in May 2010. Also around this time, Intrawest missed loan payments on its Whistler Blackcomb holdings, eventually resulting in Intrawest divesting its remaining holdings in 2012.
On November 12, 2013, it was announced that Intrawest had filed for an estimated $100 million initial public offering. Trading New York Stock Exchange under the ticker symbol SNOW, 3.125 million shares were sold by Intrawest for $12.00 per share on February 5, 2014. Fortress sold 14.844 million shares, retaining the proceeds.
Intrawest Resources on NewEnglandSkiHistory.com:
Stratton Mountain Resort
Intrawest External Links:
Intrawest - official web site
Last updated: April 22, 2015