Intrawest Sale Finalized

A new era of Winter Park Resort started yesterday with the announcement that the resort has officially become part of a new entity formed by ski industry leaders KSL and Henry Crown & Company.

What is the transaction that closed yesterday?

KSL and Henry Crown & Company have formed a new entity to acquire Intrawest and Mammoth Resort. The transaction closed July 31, 2017.

Who is Henry Crown & Company?

Henry Crown & Company dates back to the early 1900s when Henry Crown and his brothers started Material Service Corporation, which was later merged into General Dynamics. Today, the Crown’s family assets fall into four broadly defined categories, including publicly traded securities, real estate, investment funds and privately held operating companies, including Aspen Skiing Company.

Who is KSL?

KSL is a private equity firm specializing in travel and leisure enterprises in five primate sectors: hospitality, recreation, clubs, real estate and travel services. KSL has significant ski industry experience and has owned Squaw Valley Alpine Meadows for the last six years. KSL has offices in Denver, Colorado; Stamford, Connecticut; and London, England.

Is Aspen/Snowmass part of the new company?

No, there is no inclusion of current Aspen/Snowmass resorts in this transaction. Aspen remains independent, and the new company will explore opportunities to work together when and where it is appropriate.

What will happen to my season pass?

For the full 2017/18 winter season, we will continue to honor all existing multi-resort and season pass products. This includes RMSP+, MAX Pass and Mountain Collective.

See the full text of the press release here.

2 thoughts on “Intrawest Sale Finalized

  1. I have been traveling from the Midwest to ski Winter Park since 1980. We have enjoyed accommodations at the TimberHouse Ski Lodge for many years now.
    These trips also included Steamboat in the late 80’s, Breckenridge, Vail, Copper, Keystone, Loveland and Eldora. While change is inevitable, Winter Park has always been a family and value oriented ski area. I still tell people that you can be there for a week and never see a fur coat. Not every ski area needs to be or should be Aspen or Vail. Although the documents are likely already drafted and approved, my sincere hope is that the appeal to the Front Range, family and value oriented skier are preserved in the long range plans.

  2. It is all to easy to assume the worst. My family has been skiing Winter Park for over 8 years now and my wife’s family for more than 40. We have had the pleasure of hearing many stories good and bad of how Winter Park has changed over the years and it continues to be our resort of choice. A change in management can be a good thing if the focus continues on being a great family focused resort! Looking forward to the upcoming winter season!

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