Reuters: Intrawest, owner of Steamboat Ski Area, exploring a sale
January 13, 2017
Steamboat Springs — Reuters on Friday reported that Intrawest, owner of the Steamboat Ski Area, is exploring a sale.
The news agency was citing sources who wanted to remain anonymous because the talks were confidential.
"Intrawest, majority-owned by private equity firm Fortress Investment Group LLC, is in the initial stages of reaching out to potential buyers, including buyout firms, the people said," Reuters reported. "There is no certainty that a deal will occur, they added."
Fortress declined to comment to Reuters, and Intrawest did not respond to a request for comment.
In addition to Steamboat, Intrawest operates Winter Park in Colorado.
The company also owns the Tremblant, Stratton, Snowshoe and Blue Mountain ski areas. Additionally, Intrawest operates Canadian Mountain Holidays, a helicopter adventure company that uses its fleet to fight wildfires during the summer.
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Intrawest bought Steamboat in 2007 for $265 million from American Ski Co.
In the past year, the Intrawest stock price has more than doubled, going from $8.50 per share to $18.81 at the end of trading Friday.