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IntraWest in Trouble?

njskier

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Just heard on CNBC that IntraWest has 1.7 Billion in Debt coming due on 10/23. There looking for investors to help bail them out.
 

ski_resort_observer

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Just heard on CNBC that IntraWest has 1.7 Billion in Debt coming due on 10/23. There looking for investors to help bail them out.

To bad they can't go back in time and not build that interconnect lift at Whistler. It's not 1.7b but I'm sure it cost a chunk of change. Kinda make's ASC's debt seem very small. Guess it's a sign of the times.

Will CNL, a REIT which owns SR, the Loaf, Loon, Bretton Woods and a few others be just down the not so yellow brick road?
 

Philpug

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IMHO, we will see a whole new ski industry next year. There will be a lot of new faces and some faces gone.
 

Rob A

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do they still smell as bad as I remember?

No, it's gotten worse.

MC will never learn. They lost millions of dollars over the past 2 years. All they care about is catering to the park rats. Hopefully this season will see some changes, like less concentration on boarders and racing and more concentration on getting Granite and all of its trails open in December.
 

RootDKJ

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No, it's gotten worse.

MC will never learn. They lost millions of dollars over the past 2 years. All they care about is catering to the park rats. Hopefully this season will see some changes, like less concentration on boarders and racing and more concentration on getting Granite and all of its trails open in December.
I used to ski there quite a bit, but once the focus went all to the boarders and parks, I made Blue Mountain my new home. Blue is much further away for me, but the overall experience is much better.
 

hardline

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I used to ski there quite a bit, but once the focus went all to the boarders and parks, I made Blue Mountain my new home. Blue is much further away for me, but the overall experience is much better.

there is no focus on parks. it was one of the reasons there was so few people there this year. the hits they put out do not effect the skiing at all. theres no way i would go all the way to blue.
 

RootDKJ

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perhaps i'll give them a trial run if i'm too lazy to drive to blue. but then I really like the drive there so....
 

drjeff

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IMHO, we will see a whole new ski industry next year. There will be a lot of new faces and some faces gone.

Something will likely change, since with most(if not all major ski areas and a decent amount of medium/small aki areas) becoming real estate developments 1st with a ski area attached as opposed to a ski area with some real estate attached, AND the saturation of real estate at many ski areas, something just has to give in this economy, and places with smaller amounts of "new construction" (i.e. and by that I mean built within the last 5 to 7 years BEFORE this last major run up on real estate prices) will likely fair better in the coming years than markets saturated with new construction.

I'm betting though that folks with the job title of "VP of resort real estate" or something similar aren't making too many major purchases right now :eek:
 

ERJ-145CA

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May 6, 2007
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I'll just post this excerpt from the entry on MC on www.skiernet.com:

Best skiing was at South. In recent years Vernon Peak has been crowded, and the atmosphere has been heavy with in-your-face youth attitude. A massive hotel was constructed a couple years ago but is embarrassingly underused; a painful lesson to ski area operators that customers like to have a lodge as a prerequisite to lodging. It didn't help that patrons would rent a room, then step on a lift crowded with foul-mouthed, chain-smoking teenage snowboarders acting like wannabe "gangstas." So in 2007, management converted the entire South section to the park'n'pipe theme, supposedly because it was underused. I still say they were hoping to draw the uncouth away from their hotel.

2008-2009 Update: During the 2007-08 season, skiers fled the new all-park "South" for the less edgy atmosphere of Vernon Peak. Long time Great Gorge skiers suddenly had to suffer through a deplorable parking situation -- possibly the longest walk in the east without a shuttle -- a lift that requires them to take skis off and stand, a trail system that funnels down to a single runout (Opossum trail hasn't opened for 3 years), and a base bubble tent with less charm than an old strip mall. They found that most of the snowboarders were still at Vernon, lacking the skills and confidence to tackle the features covering the slopes at South. In the meantime, ski racers were kicked off of Bear Peak, and ran amok through Vernon while the former racing trail at Bear was cricket-chirping empty. Now that area High School racing programs have left for Hidden Valley, one wonders how long it will be before twin tips are the only skis seen at Mountain Creek. Clearly this is a ski area in transition, but why? How did Intrawest's terrific product fall apart so quickly? The difference between the overall skiing experience today versus just three years ago is staggering.
--RB


http://www.skiernet.com/ski_nj.html
 
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