Copper Mountain in Colorado is being sold by Intrawest ULC to Powdr Corp. The two companies went into a purchase agreement Nov. 17, 2009 with the transaction expected to be completed in December. It is subject to regulatory approvals, including the issuance of a U.S. Forest Service special-use permit to Powdr Corp.
"For our resort guests, it will be business as usual and our guests will continue to enjoy all of their favorite Copper programs and amenities," said Gary Rodgers, president and chief operating officer at Copper Mountain. "We are delighted at the prospect of joining Powdr Corp. Copper Mountain is Summit County's favorite resort for skiing and riding and we see this as a very positive step to ensure that we continue to provide the ultimate Colorado winter vacation experience.
"This winter season, Copper Mountain guests will enjoy all the amenities and programs currently in place at Copper including the Rocky Mountain Super Pass suite of products that provides skiers and riders with access to Copper Mountain, Steamboat Resort, and Winter Park Resort," he said..
Powdr Corp is based in Park City, Utah. The company currently owns and operates seven resorts including Park City Mountain Resort, Utah; Killington and Pico Resorts, Vt.; Mt. Bachelor, Ore.; Boreal and Soda Springs, Calif.; and Las Vegas Ski and Snowboard Resort, Nevada.
Intrawest is based in Vancouver, Canada, and owns Steamboat and Winter Park, Colo.; Blue Mt., Panorama, Mt. Tremblant, and Whistler in Canada; Snowshoe, W. Va.; Stratton Mt., Vt.; and Mountain Creek, N.J. The company is involved in several other resort village developments, as well as owning the Sandestin Resort in Florida.
Intrawest was acquired in 2006 by Fortress Investment Group of New York. The company has acknowledged financial issues over the past few years and the sale of Copper Mt., a good asset in the center of Colorado Ski Country, had been rumored to be on the block. Powdr, already a major player in the ski industry, just upped their profile to an even higher peak.