Tuesday, November 17, 2009

Copper Mountain to be sold to Park City owner in December 2009

Here is some big news that just became official. Intrawest, who also owns Steamboat, has reached a deal to sell Copper Mountain to Powdr Corp the owner of Park City and several other ski area. I have talked to several credible people over the last few months that said Copper was on the market and then a deal was in process so it is good to see it announced and hopefully completed on schedule. See the press release below.

VANCOUVER and PARK CITY, UT, Nov. 17 /PRNewswire/ - Intrawest and Powdr Corp today announced they have entered into a definitive purchase agreement to sell Intrawest's interests in Copper Mountain to Powdr Corp. The transaction is anticipated to close in December 2009 and the agreement is subject to regulatory approvals including the issuance of a U.S. Forest Service special-use permit to Powdr Corp.

This winter season it is business as usual at Copper Mountain. Once the transaction is finalized Intrawest and Powdr Corp have committed to work together to ensure that all of the multi-mountain season pass products, vacation reservations and joint marketing initiatives will be honored for the 2009-2010 winter season. This includes the Rocky Mountain Super Pass suite of products that provide skiers and riders with access to Copper Mountain, Steamboat Resort and Winter Park Resort.

Powdr Corp is one of the leading mountain resort owners and operators in the United States. Headquartered in Park City, Utah, Powdr Corp currently owns and operates seven ski and snowboard resorts including Park City Mountain Resort in Park City, Utah, Killington Resort and Pico Resort in Killington, Vermont, Mt. Bachelor in Bend, Oregon, Boreal Resort and Soda Springs Resort, both in Donner Summit, California, and Las Vegas Ski and Snowboard Resort outside of Las Vegas, Nevada. Powdr Corp also operates Gorgoza Park, a lift-served tubing park, in Park City, Utah.

For more click back to the Steamboat Springs blog main page.

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