On the market for Feb. 10
February 10, 2008
A quick $100 million
Steamboat Springs — Outgoing Intrawest CEO Alex Wasilov told a Steamboat audience Jan. 30 that in the approximately 15 months since Fortress Investments Group acquired Intrawest, the parent company of Steamboat Ski & Resort Corp., Intrawest has been able to add the equivalent of $100 million in profitability to the company’s balance sheet.
Wasilov will return to Intrawest’s board of directors June 1 when Bill Jensen, currently Vail Mountain’s COO, assumes the role of Intrawest’s CEO.
Wasilov said he, his staff and the current board took $100 million in expenditures out of the company’s operations, reinvested $40 million in the company’s growth platform, then rebalanced the product portfolio for another $40 million in savings.
What does it mean? Those strategic moves helped give Fortress the confidence to invest in the growth of Intrawest.
There’s a distinctly local vibe in Colorado Group Realty’s new office in Hayden. Broker/owner Vonnie Frentress has been living in the Yampa Valley for more than two decades. Her involvement in ranching and water management brings value to her clients.
Associate broker Amy Williams is the former Routt County Assessor and knows property values inside and out. She also operates both a family farm and a car wash in Hayden.
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Associate broker Mark Dudley grew up in Steamboat Springs and is a former soccer star at Steamboat Springs High School. He’s networked into the community.
“We are delighted to welcome three new brokers along with their knowledge of the Hayden market to our team,” said Bart Kounovsky, chief operating officer for Colorado Group. “These brokers have been working in Hayden for several years, and we are excited to tap into their local expertise.”
Luck of the Irish?
Downtown developer and Colorado Group Realtor Jim Cook shared some encounters he had this winter with international visitors looking for Steamboat real estate.
One Australian couple sought Cook, looking for a condo on the banks of the Yampa River. They already have a second home in Tokyo, but wanted new digs that overlooked the ski trails at Howelsen Hill so they could monitor the progress of their favorite ski racer.
Cook said he also met with a real estate investor from Ireland.
Since one million Euros would buy $1.48 million in Steamboat real estate this month, you might consider that to be the luck of the Irish.