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Whistler Foreclosure.

post #1 of 14
Thread Starter 
post #2 of 14
 Just curious, I noticed Intrawest owns not only Whistler, Stratton, and Steamboat as the article mentions but also
Blue Mountain, Ontario
Mountain Creek, NJ
Snowshoe, WV
Mount Tremblant, Quebec
Winter Park, CO

Would a foreclosure affect all these resorts too?
post #3 of 14
they own copper mountain too
post #4 of 14

Looks like theyre downplaying the whole deal, hopefully it effects them to the point where you can actually find a decent price on tickets for them.

post #5 of 14
Quote:
Originally Posted by snowyphil65 View Post

they own copper mountain too
From what I could find they sold Copper.
post #6 of 14
Quote:
Originally Posted by snowyphil65 View Post

Looks like theyre downplaying the whole deal, hopefully it effects them to the point where you can actually find a decent price on tickets for them.


How do you figure? They'll decide that they will cut prices so they can lose money faster?
post #7 of 14
They only operate Winter Park, I think the City of Denver actually owns it, and I thought they sold Copper to Powdr Corp.

Quote:
Originally Posted by tylrwnzl View Post

 Just curious, I noticed Intrawest owns not only Whistler, Stratton, and Steamboat as the article mentions but also
Blue Mountain, Ontario
Mountain Creek, NJ
Snowshoe, WV
Mount Tremblant, Quebec
Winter Park, CO

Would a foreclosure affect all these resorts too?
post #8 of 14
Copper was sold off for sure,  But protection is different from backruptcy. No need to panic. 
post #9 of 14
Copper Mtn - sold
Panorama - sold
Sandestin - sold
Village at Squaw - sold
The City and County of Denver owns Winter Park.

It's extremely easy to find coupons to cut the window ticket prices in half at Copper and WP.  Steamboat - book lodging with tickets included.
post #10 of 14
Not sure how Canadian bankruptcy vs US bankruptcy laws play out here, but in the US, assets sold within a year of bankruptcy are subject to recapture as they may have been fraudulently conveyed; that is, the current creditors may have been disadvantaged by the sale of assets prior to the filing.  That might mean that the creditors might seek to undo or recapture some portion of the deals for Copper, Panorama, Sandestin, and the Village at Squaw.  I also understand they sold some French assets as well.

Mike
post #11 of 14
Quality reporting there by CNBC......   Maybe they should check how to spell Blackomb????
post #12 of 14
I would imagine that each holding is under it's own Corporate entity and all held by the parent company. I'm pretty sure the Blue mountain thing in Ontario is a joint ownership. It would be nuts not to separate each resort so 1 does not affect the others. Say in a catastrophic law suit or such

Quote:
Originally Posted by habacomike View Post

Not sure how Canadian bankruptcy vs US bankruptcy laws play out here, but in the US, assets sold within a year of bankruptcy are subject to recapture as they may have been fraudulently conveyed; that is, the current creditors may have been disadvantaged by the sale of assets prior to the filing.  That might mean that the creditors might seek to undo or recapture some portion of the deals for Copper, Panorama, Sandestin, and the Village at Squaw.  I also understand they sold some French assets as well.

Mike
post #13 of 14
Quote:
Originally Posted by ramzee View Post

Quality reporting there by CNBC......   Maybe they should check how to spell Blackomb????

Not to mention this is 2 month old news... quality work of them to bring it up during the Olympics
post #14 of 14
http://www.epicski.com/forum/thread/92197/the-vancouver-olympics-just-dodged-a-bullet

Well the above thread definitely added a new dimension to it today.
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