Intrawest selling mammoth mountain

[SkiSundownJibber]

i used to work for a hedge fund that's pushing intrawest management to put the company up for sale. while management hasn't done that just yet, they did agree today to sell 85% of mammoth mtn to i believe starwood resorts. this does not include june mtn. so cheers.

 

[sampsihoyos]

thats crazy

 

[sampsihoyos]

so much area

 

[SkiSundownJibber]

yep, IDR shareholders are going to make $60mm in net income from the deal.

 

[triebby]

wow, thats pretty surprising

 

[mammothpunks]

this shit happened months ago. and Mammoth is still owns June, although June will only be open 4 days a week next year. Intrawest is out and Starwood owns Mammoth now.

 

[bp.lando]

is mammoth going to become a giant sheraton with a ski hill

 

[chillonhill]

flip that mountain

didn't they just buy the other 50% last year

 

[SkiSundownJibber]

yea, they sold 85% of the ski resort to starwood in december, but they just sold 85% of the real estate yesterday--that's where the value is.

what hasn't happened yet, though, is the sale of the entire company. However, IDR has already retained Goldman Sachs to find potential buyers and explore other strategic alternatives. Good chance that IDR becomes part of starwood this year.

 

[tahoeskier170]

sweet mabe itll be cheaper now

 

[4frntSkier]

i hate intrawest sometimes

 

[Drail]

sometimes? intrawest is the devil.

actually, to be completely honest - RCR is even worse... Intrawest is number 1, RCR is number 2, so RCR has to be a bigger dick 'cause they are trying to be number 1.

(this is all canada talk if you're confused)

 

[knotbox]

intrawest bought perisher blue

 

[ztragnoB]

does anyone know if intrawest sold stratton too? ive heard rumors but i still see intrawest sings and shit everywhere