BIG things are happening here in Winter Park, Colorado! Winter Park Ski Resort has been previously owned by Intrawest Resort Holdings Inc. but lately there have been talks of combining with two other major resort companies, KSL Capital Partners, LLC and Henry Crown Company. After months of meetings… it’s official!
A little about the three companies:
Intrawest is a North American mountain resort and adventure company owning/or operating 6 four-season mountain resorts. Together that makes up around 8,000 skiable acres and 1,200 acres of land available for real estate development across the Eastern United States, Rocky Mountains and Canada. Intrawest will cease it’s trading on the New York Stock Exchange after the merge, however stockholders will receive $23.75 in cash for each share, equaling approximately 1.5 billion in total valuation.
KSL Capital Partners, LLC is a private firm that specializes in enterprises such as travel and leisure in five major sectors: hospitality, recreation, clubs, real estate, and travel services; with an office close by in Denver, Colorado as well as Connecticut and London.
Henry Crown and Company is the minority investor in this new joint venture. However have plenty of experience, dating back as far as the early 1900s with Material Service Corporation. Currently, the Crown family focuses on publicly traded securities, real estate, investment funds, and privately held operating companies, including Aspen Skiing Company, LLC. Within Aspen Skiing Company the four mountains of Aspen Snowmass are operated, as well as hospitality properties here in Colorado and Idaho and many rental locations.
What do you really need to know? This transaction will only bring positive changes to the Winter Park area both as a community and at the resort. Former President and Chief Operating Officer of Intrawest will now be the President and Chief Operating Officer solely for the Winter Park Resort, bringing more full time focus on improving the resort as a whole. Aspen, as a resort operated under this management and being a big ski mountain, will bring a greater skier experience here and will continually strive to make Winter Park reach its full potential and beyond. One noticeable improvement already is the new paved road to Mary Jane, one of the seven territories of Winter Park Resort and a skier’s dream mountain! Season Passes shouldn’t see much change either; the new company is honoring the passes currently for sale- Rocky Mountain Super Pass+, The M.A.X. Pass and the Mountain Collective.
Look out prior to 2017/2018 ski season for the launch of a new name and brand for the newly jointed company. This new entity will now consist of 12 four-season mountain resorts with approximately six million skier visits, a huge 20,000 skiable acres and now even more available real estate development potential.
What does this mean for the real estate market? It raises property value, increases both skiers and summer time visitors, and makes Winter Park more appetizing, as if it needed any help with that?! If you haven’t already come to visit Grand County, come discover what makes it so GRAND; from the amazing Mountain views, stellar powder days, endless back country trails and fish waiting to be caught. Whether you are a biker, skier, fisher, or just plain love a getaway with a killer view, Grand County is for you! And if you love Grand County and everything it has to offer as much as we do, let us help you find the perfect mountain getaway, so you can enjoy it a little more… or A LOT more, we don’t judge!
Author:Carrie Flynn Phone: 970-281-9731 Dated: August 19th 2017 Views: 291 About Carrie: Grand County stole my heart when I first moved here in 1996. After a few years, I decided to finish ...
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