Ski resorts are sliding back from global real estate corporations to the smaller, mega rich investment groups who used to own them. I prefer to have my ski resorts as the play things of billionaire financiers, except maybe in the case of Dick Bass, whose coal mining investments have left lifelong Snowbird skiers in an ethical lurch. There’s a lot of financial wrangling that I don’t understand in this article about Intrawest selling Panorama Mountain Village resort in Canada. Essentially, they needed to free up some cash to try to stave off foreclosure on their Whistler/Blackcomb, which is slated for auction in the middle of the Olympics. Intrawest sold Copper Mountain to POWDR back in early December, and this sale is part of some baffling high stakes game where people move money around to try to make more money.

This entry was posted on Friday, January 29th, 2010 at 10:28 am and is filed under Skiing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.