Intrawest ULC recently announced that Steamboat Acquistion Corportation, an affiliated company, has signed a purchase and sale agreement with American Skiing Company to acquire Steamboat Ski & Resort Corporation in Steamboat Springs, Colorado.
Along with an additional 3,498 acres of mountain terrain that falls under a long-term special use permit from the US Forest Service, Intrawest will acquire fee owned real estate including certain developable parcels along with development rights, 13 dining venues, the commercial core and management of the Steamboat Grand Resort Hotel & Condominiums, Steamboat Central Reservations and employee housing.
“We look forward to working with the entire Steamboat team and the local community to connect with the resort’s unique culture and traditions,” said David Barry, chief operating officer of Intrawest U.S. Mountain Resorts. “Steamboat is off a terrific start this winter season with a variety of on-mountain improvements and renovations to the on-mountain restaurants. With the combination of the heritage of Steamboat and Intrawest’s proven ability for operating and developing four-season resorts, we will be able to provide our guests from Colorado, and around the world, with access to three of the West’s premier mountain resort destinations– Copper Mountain, Winter Park and now Steamboat.”
The closing of the acquisition is expected to take place by the end of the 2006/07 ski season.
For more information contact your broker. |
