Intrawest buys half of Canadian ski resort it doesn’t already own
Denver’s Intrawest Resorts Holdings Inc. will pay $52.5 million for the half of Blue Mountain Ski Resort it doesn’t already own.
Intrawest (NYSE: SNOW), which operates the Winter Park and Steamboat ski resorts in Colorado, has been a partner in Blue Mountain since 1999. The company said Friday it has a definitive agreement in place and expects the purchase to close by the end of this month.
Blue Mountain is the largest ski resort in Ontario and is about 90 miles northwest of Toronto. Intrawest said it doesn’t anticipate making significant changes to the resort or to its staff.
Source: Denver Business Journal. Read More…