Major financial news organizations in North America have reported Intrawest Resorts Holdings Inc. —once based in Vancouver, Canada—is going public.
The ski area consolidator that has owned more than a few major Canadian ski resorts—including BC’s Whistler Blackcomb, Quebec’s Tremblant, and Ontario’s Blue Mountain—filed for the necessary documentation November 12 with the Securities and Exchange Commission. Intrawest wants to raise up to US $100-million through its initial public offering.
Once a major player in the ski industry, Intrawest has struggled through the past five years in the wake of the financial crisis, culminating in its loss of control of its flagship Whistler Blackcomb. Experts are now saying things are looking up for the group that still owns Colorado’s Steamboat and Winter Park, Vermont’s Stratton, Quebec’s Tremblant Resort, and BC’s Canadian Mountain Holidays (CMH).
Writes Steven Threndyle of the Vancouver Sun: “If successful, this raising of capital would show that investors have confidence in the long-term success of the winter-resort business and that perhaps there is an appetite for both resort expansion and further real estate development, the latter of which has been off sharply at many resorts through North America for over five years now.”
For more on this story from the Vancouver Sun, see: http://www.vancouversun.com/travel/Intrawest+looking+resort+investors/9156440/story.html
Photo of Tremblant Resort courtesy of Tremblant.
SnowOnline Editor: Lori Knowles.