Intrawest is Investing in the Steamboat community not just the ski resort

That's music to my ears. Intrawest takes over and unveils their vision for Steamboat after the sale closes in March of 2007. I think that Intrawest will be great for Steamboat but how much they would care about the community was a concern for me. I am looking forward to seeing them back up that statement with their short and long term actions. I think it is up to all of us to hold them to that commitment. They clearly see value in what is unique about Steamboat to pay the price that they did and it is nice to hear that they see Steamboat as a long term hold.

Selected quotes from the Steamboat Pilot: "“The town environment in Steamboat is what attracts people there, he said Tuesday from Intrawest headquarters in Vancouver, British Columbia. “It is the asset that differentiates it from other resorts, so we are investing as much into our relationship with the community and the town as we are with the assets that we are purchasing.

Wasilov said it is too early to say what sort of improvements or changes Intrawest might make at Steamboat. Those announcements will come once the sale has closed. “Because (American Skiing Co.) has not invested significantly in Steamboat ski resort improvements over the years, that leaves it open for Intrawest to make some improvements in the maintenance and in capital,” said Rob Perlman, president and CEO of Colorado Ski Country USA.

Steamboat would be one of Intrawest'’s largest ski resorts with almost 3,000 acres of skiable terrain. Intrawest has interests in 10 North American ski resorts. It owns Copper Mountain and manages Winter Park, which is owned by the city and county of Denver.

We believe we are affiliating ourselves with an incredible consumer base in our industry, Wasilov said. “We're betting on the fact that demand will not only sustain itself, but with our involvement and our investment in the mountain and the community, that we will be able to grow the business over time.”

Wasilov said the development potential at Steamboat is somewhat “restrictive” because of the lack of land. We'’re not acquiring Steamboat for the redevelopment opportunity,” Wasilov said. We'’re really acquiring Steamboat because of its mountain operations business and its ski business.

If anybody was in doubt about Fortress’ seriousness about being in the ski business, they should not be in doubt any longer, said Mike Berry, president of the National Ski Areas Association. At the end of the day, it bodes well for Steamboat. They will probably address some of the issues that everybody in this community wants to be addressed, whether it is capital improvements or other areas the community wants improved. Link to the full article here

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