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When will Intrawest go bankrupt and how many resorts will they still own?

Poll Results: When will Intrawest go bankrupt and how many resorts will they still own?

 
  • 12% (1)
    Next week with 9 resorts
  • 12% (1)
    Before the Olympics with 9 resorts
  • 12% (1)
    Before the Olympics with 6 resorts
  • 0% (0)
    Before the end of the 09/10 ski season with 9 resorts
  • 25% (2)
    Before the end of the 09/10 ski season with less than 9 resorts
  • 37% (3)
    They won't - they'll throw a hail mary and renegotiate their debt.
8 Total Votes  
post #1 of 7
Thread Starter 
Anyone have an opinion?
post #2 of 7
Sounds like an insider question from someone who knows.

BTW, do you miss working at Copper?
post #3 of 7
Thread Starter 
Quote:
Originally Posted by Lars View Post

BTW, do you miss working at Copper?

Do I miss it?  Well, I don't miss the later years and some of the shenanigans that went on.  Overall it was a good place to work and a real eye opening experience into the ski industry.  I certainly had a lot of fun there too. 

Overall, the sale to Powdr seems like one of the best things that's happened to Copper in several years.  There's been more money flowing into that company in the past couple of months than since I left.  More importantly, Powdr is a resort operations company, not a real estate developer.  There's a chance the commercial real estate could function properly for the first time.  Funny thing about ski areas: it seems like when the core leadership of the company is avid skiers the company does well.  When the core leadership are a bunch of guys in suits who rock the groomers on their brand new Stockli's, the areas falter.

And yes, the poll was some thinly disguised speculation.  Intrawest has stopped making all of their debt payments and it seems like there's no intention of starting again.  They're quietly doing a firesale on some of their resorts and I suspect in the next week we'll see at least Snowshoe sold off.  It seems like their intention is to only keep Steamboat, Winter Park, and Whistler.  I was curious if anyone else had heard any rumors.
post #4 of 7
Well, they've been trying to sell off Panorama for years, if that's any indication.
post #5 of 7
Now they have!

Panaroma is sold, and so is some kind of commercial/residential building called 'The Village' at Squaw Valley.
post #6 of 7
Quote:
Originally Posted by vinn View Post

When the core leadership are a bunch of guys in suits who rock the groomers on their brand new Stockli's, the areas falter.

They're quietly doing a firesale on some of their resorts and I suspect in the next week we'll see at least Snowshoe sold off.
 

Couldn't agree more in that the focus at Snowshoe is real estate ... skiing is there purely as a secondary draw.  Snowshoe is an over crowded, over priced mountain that offers mediocre services for a mediocre hill.  I guess I don't understand why these would sell off the mountain though ... every time I'm there it is packed to the max and with $70 lift tickets, Intra can't help but make money hand over fist.
post #7 of 7
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