ski guyCOPPER MOUNTAIN SOLD?
November 17th 2009 22:26
In the continuing game of musical chairs--you move out, I'll try to
buy your distressed property--practiced by ski area corporate
"chains," the latest seat change is: Powdr Corp has a purchase
agreement in the game for Intrawest Corporation's Copper
Mountain holdings in Colorado.
Will it come to pass? Who knows? The U.S. Forest Service
is involved as are the usual bankers and other rogue behind
the scenes financiers. Anything can happen, stay tuned.
Meanwhile, what's been happening of late is a ski area operator
seems to do well for a season or two operating one sole ski
resort and then decides to branch out by acquiring another
operation, then another and another,
This works for awhile until a few crummy snow seasons dry
up the incoming revenue streams, loans don't get repaid and
properties ultimately are sold.
Powdr Corporation (yes that's the way it's legally spelled) currently
operates seven ski resorts primarily in the western United States.
Will they be the next corporation to have a fire sale, perhaps five
or six years down ye olde ski trail?
buy your distressed property--practiced by ski area corporate
"chains," the latest seat change is: Powdr Corp has a purchase
agreement in the game for Intrawest Corporation's Copper
Mountain holdings in Colorado.
Will it come to pass? Who knows? The U.S. Forest Service
is involved as are the usual bankers and other rogue behind
the scenes financiers. Anything can happen, stay tuned.
Meanwhile, what's been happening of late is a ski area operator
seems to do well for a season or two operating one sole ski
operation, then another and another,
This works for awhile until a few crummy snow seasons dry
up the incoming revenue streams, loans don't get repaid and
properties ultimately are sold.
Powdr Corporation (yes that's the way it's legally spelled) currently
operates seven ski resorts primarily in the western United States.
Will they be the next corporation to have a fire sale, perhaps five
or six years down ye olde ski trail?
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