Intrawest selling assets to pay off debt....

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Vancouver's Intrawest eyes asset sale to pay down debt - report


TORONTO - Canadian ski resort operator Intrawest ULC is eyeing the sale of assets as it negotiates with lenders to refinance and pay down a $1.7 billion loan, the Globe and Mail said on Thursday........


Not sure what effect this will have on Club owners, but a troubling article to say the least.

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

It is getting bad for Intrawest Corp. (not club intrawest)

LINK

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Grand Summit all over again ?

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Agreed..

It is getting bad for Intrawest Corp. (not club intrawest)

LINK

I've believe the same thing.. The Club is not expected to be significantly impacted since the Club is a different legal and financial entity owned by the members.

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

Grand Summit all over again ?

This mmay be more like Sunterra.

The developer goes out of business but all the owners still own the entire TS. So they (CI) may need to find a new developer.

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

This info may also help lend some weight to the stability of the Club.

Intrawest has been very active on exercising their ROFR for the last month.. Sellers seem to be nervous, and are accepting some really low offers- and Club Intrawest is simply gobbling them all up and closing very quickly.

I think I've seen more Intrawest resales reported this Jan and Feb than the entire last half of 2009..

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Glamorous ski resort that's home to Alpine events may be for sale _ during the Olympics - OrlandoSentinel.com

New article about the financial problems facing the hedge fund which owns Intrawest, and points to the Lehman Brothers collapse as a possible factor. Reports local frustration from Whistler as the parties involved continue to push for an auction to occur while the Olympics are underway..