Intrawest bankruptcy

This article is from the Steamboat Today Website: February 4, 2010 Steamboat Breifs:

Intrawest sells The Village at Squaw Valley, Panorama Mountain Resort

Steamboat Springs — Intrawest, the parent company of Steamboat Ski and Resort Corp., has sold two of its resort properties in the past week. On Friday, Intrawest sold The Village at Squaw Valley to Squaw Valley USA, the operator of the Lake Tahoe, Calif., ski resort. The European-style Village at Squaw Valley includes two condo-hotels, six restaurants, 20 retails shops and a full-service spa. The sale price was not disclosed.

On Jan. 28, Intrawest sold Panorama Mountain Resort in western British Columbia, to a group of local investors. The deal includes the resort’s on-mountain and cross-country ski operations, a 50 percent stake in Greywolf Golf Course, all of Intrawest’s commercial operations and lodging units in the village and land available for real estate development. The sale price was not disclosed.

Intrawest has been working to refinance debt and already has sold Copper Mountain in Colorado and two of its French resorts.

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