KSL Capital Intrawest-backed ski resort operator close to buying Intrawest Resorts
10 April 2017
North American ski resorts owner Intrawest Resorts Holdings Inc is close to selling itself to a ski resort operator backed by private equity firm KSL Capital Partners LLC, Reuters yesterday reported, citing people familiar with the matter.
Reuters could not learn the identity of the ski resort operator, which is being backed by KSL.
Intrawest, which has a market cap of around $1 billion, is the largest developer and operator of resort properties in North America offering skiing, snowboarding, golf, mountain biking, lodging, and real estate opportunities at each of its resorts.
The Denver, Colorado-based company develops real estate at its resorts and at other locations across North America and owns Canadian Mountain Holidays, the largest heli-skiing operation in the world.
It also owns popular ski resorts that include Stratton Mountain in Vermont, Mont Tremblant in Quebec, Steamboat in Colorado, Blue Mountain in Ontario, Zihuatanejo in Mexico, and Snowshoe Mountain in West Virginia.
Intrawest also manages Honua Kai Resort & Spa, located in Maui Hawaii and The Westin Monache at Mammoth, both condominium hotel properties and also Winter City Park, in Colorado which is owned by the town of Winter Park.
Intrawest's largest shareholder is Fortress Investment Group LLC, which acquired the company in 2006 for $2.8 billion, and then took it public again in 2014.