Intrawest Resorts Holdings, Inc.is a mountain resort, adventure and real estate company.
The purchase comes during a time in the industry where consolidation is commonplace.
Rep. Oliver Olsen, a Vermont lawmaker whose district includes Stratton Mountain, said in an email Monday morning that the new ownership structure "brings new opportunities for Stratton, its employees, and local businesses in the area". It is being bought by a newly formed entity controlled by affiliates of the Aspen Skiing Co.
Mike Kaplan is CEO and president of SkiCo. "I see Manchester and Stratton as having a healthy competition, and I think that will continue", he said.
"Just as the strong US dollar makes Canadian investments look more attractive, the stronger USA dollar also makes it more attractive for USA citizens to travel overseas as their dollars go further", Bellisario said in an email.
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"Despite efforts by (Vail Resorts) to offset the impact of lower snowfall on its valuation ... climate change negatively affects its financial performance", Stanford researcher Donna Bebb said in the study.
With a 20-year trend of declining seasonal snowfall, spending big bucks on Canadian mountain resorts seems counter-intuitive.
Aspen Skiing Company owns and operates the four mountains of Aspen Snowmass - Snowmass, Aspen Mountain, Aspen Highlands and Buttermilk - as well hospitality properties The Little Nell, Residences at The Little Nell, Limelight Aspen and Limelight Ketchum in Ketchum, Idaho, In addition, Aspen Skiing Company owns and operates numerous retail and rental locations through the resort and the Roaring Fork Valley. Intrawest also operates Winter Park ski area in Colorado. We're convinced this new venture will bring fresh perspectives to these unique properties, help them enhance the guest experience, and foster even stronger partnerships with the local communities. Each has its own unique story and its own unique sense of place.
Macquarie has downgraded Intrawest Resorts Holdings Inc (NYSE:SNOW) to Neutral in a statement released on 04/10/2017. Hall is in a position to know, having served as the executive director of Steamboat Springs Chamber Resort Association prior to her move five years ago to the Lake Tahoe community that is home to Squaw Valley/Alpine Meadows ski areas.
Featured image courtesy of Stratton Resort's Instagram page.
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