Ppppppowder to buy Copper

[Trekchick]

I don't see much of a comparison of Copper to Killington in resort style, so I'm not sure how this will go down, but.......you have to wonder,..........don't you?

http://community.freeskier.com/articles/article.php?article_id=4334

 

[wa-loaf]

Prob getting tough to compete with the Epic Pass.

 

[deadheadskier]

OUCH

that means no money for upper mountain lift and year round special snowmaking for killington :razz:

 

[Talisman]

OUCH

that means no money for upper mountain lift and year round special snowmaking for killington :razz:

Unless Killington is sold to Les Otten. Any reports of a convoy of trucks hauling three new HSQ lifts, miles of snow making pipe, work crews and inter connect palns heading to Killington?

 

[millerm277]

Asc v2.0?

 

[ski_resort_observer]

Not to surprising. About 3 years ago Intrawest was saved from bankruptcy by being bought up by Fortress, a huuuge private equity firm who's mission is to buy up cheap properties then sell them a few years later for a profit.

Unfortunately, bad timing by Fortress as they are now selling off properties to prevent their own bankruptcy. Fortress needs to make it to the Olympics so their Whistler ownership will bring home the bacon.
http://www.onthesnow.com/news/a/4752/layoffs-hit-intrawest-resorts-as-economic-turmoil-rolls-on

BTW, there is a new king of the hill in the ski resort ownership sector. The total number of resorts is mindboggling. Not to many people are aware of this cause they hire other folks to operate, purchase than lease back mostly, so their name is not front and center in the news about any particula properties. They bought former ASC resorts and also what I call Legend Properties like the Mt Washington Hotel.

Here's a list of what they own and notice that they mostly have 100% ownership. Obviously key to their successes rest on the contracted operators which IMHO are totally topnotch and have years of experience in both resort ownership and management. In some cases it's the former owners of the same resort.
http://www.cnl.com/lifestyle/property_list.html

 

[Dr Skimeister]

Not to surprising. About 3 years ago Intrawest was saved from bankruptcy by being bought up by Fortress, a huuuge private equity firm who's mission is to buy up cheap properties then sell them a few years later for a profit.

Unfortunately, bad timing by Fortress as they are now selling off properties to prevent their own bankruptcy. Fortress needs to make it to the Olympics so their Whistler ownership will bring home the bacon.
http://www.onthesnow.com/news/a/4752/layoffs-hit-intrawest-resorts-as-economic-turmoil-rolls-on

Think Powder has any interest in Stratton, another Intrawest/Fortress property? Or, conversely, is Intrawest/Fortress going to look to likewise unload Stratton?

Mountain Creek?

 

[Highway Star]

Think Powder has any interest in Stratton, another Intrawest/Fortress property? Or, conversely, is Intrawest/Fortress going to look to likewise unload Stratton?

Mountain Creek?

I doubt it....and I'm not sure IW would be in much of a hurry to offload their (profitable) eastern properties they've had for 15+ years and put mucho money into. Remember they own Tremblant and Snowshoe also.

 

[snoseek]

Maybe they can figure out how to make it snow there.

 

[Edd]

CNL will own additional ski areas before this season is done. Count on it.

 

[Trekchick]

I have skied and enjoyed Copper a few times over the past few years. I'm not sure how, if at all, this purchase will effect my travels, but I suspect it will not make a huge impact.

 

[severine]

Interesting that this is public knowledge, but from what I've heard, the employees have been told nothing yet. Wonder how they'll be affected by this...

 

[icedtea]

Interesting that this is public knowledge, but from what I've heard, the employees have been told nothing yet. Wonder how they'll be affected by this...

Do you really wonder?????

The suplus will be canned!! SYNERGY!

 

[severine]

Do you really wonder?????

The suplus will be canned!! SYNERGY!

Rhetorical question.