On Tuesday, August 1, 2017, the Steamboat Today newspaper’s headline read: Sold!, confirming that a joint venture of KSL Capital Partners and Henry Crown and Company had purchased Intrawest Resort Holdings, the parent company of the Steamboat Ski area, and Mammoth Resorts for $1.5 billion.
President and Chief Operating Officer, Rob Perlman, said: “I think we’re all tremendously excited about the opportunities for Steamboat and the new company.”
These “new opportunities” could include a significant spike in real estate sales, business development, expansion of current businesses, and attraction of new franchises to Steamboat Springs.
Opportunities Abound as Steamboat Ski Resort Is Under New Ownership
The sale of the iconic Steamboat Ski Resort “combines Squaw Valley Holdings, KSL, Intrawest and Mammoth Resorts as one company with 12 mountain resorts and six million annual skier visits,” says the Steamboat Today newspaper.
Newly Formed Ski Resort Company Means Real Estate Development Opportunities
While it is too late to offer a special pass across all resorts for the 2017/2018 season, all existing pass products that are currently on sale will be honored, including: the Rocky Mountain Super Pass +, Mountain Collective and the M.A.X. Pass.
This newly formed company now controls:
- 12 four-season mountain resorts
- 6 million skier visits
- 20,000 skiable acres
- Large amounts of land available for real estate development
- Earth’s leading heli-ski operator, Canadian Mountain Holidays (CMH)
The 12 Ski Resorts- Prime Real Estate That Spans US
- Squaw Valley, CA
- Alpine Meadows, CA
- Mammoth Mountain, CA
- Snow Summit, CA
- Bear Mountain, CA
- June Mountain, CA
- Steamboat, CO
- Winter Park, CO
- Stratton Mountain, VT
- Snowshoe Mountain, WV
- Blue Mountain, Ontario
- Mount Tremblant, Quebec
New Brand For Ski Area Means Real Estate Development and Business Expansion
Lis de Roziere handles investor relations for Intrawest and she said that, “the company expects to launch a new name brand before the beginning of the 2017-18 season, “ with the company’s new name and more information about new pass products announced as early as October.”
Steamboat resort is looking to expand its real estate in the Pioneer Ridge area as well as add an additional gondola that would carry skiers up to a new ski school in the Bashor Bowl area.
What This Resort Sale Means For the Future of Steamboat
Bryan Traficanti, interim chief executive officer of KSL, referred to the sale of Steamboat resort as, “a significant milestone for our company, our guests, and our communities, and we are excited about the opportunities that lie ahead as a result of combining Intrawest, Squaw Valley Ski Holdings and Mammoth Resorts.”
With the intention of maintaining the uniqueness of each resort’s character and culture, the company is also focused on “building something greater.”
In the coming months it is clear that we will start to see those changes right here in Steamboat Springs- more business development, new businesses emerging, more visitors to the resort, expansion of current businesses and local offerings as well as growth in the real estate market as more tourists and investors are drawn to Steamboat Springs.