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Park City-based Powdr Corp has extended its skiing interests into Colorado, signing an agreement to buy Copper Mountain resort from Intrawest Corp.
No purchase price was disclosed for the Summit County resort, 75 miles west of Denver. The deal is expected to close in December, subject to Powdr Corp acquiring a special-use permit from the U.S. Forest Service.
"The acquisition of Copper Mountain represents another milestone in Powdr's strategy to provide an unparalleled on-mountain experience to its guests at premier ski and snowboard resorts," President and CEO John Cumming said in a statement. "As one of the largest ski areas in Summit County, [Colo.], Copper Mountain is a perfect addition to the Powdr Corp family."
In Summit County, Utah, Powdr Corp is the parent company of Park City Mountain Resort and Gorgoza Park, the lift-served tubing hill near Jeremy Ranch.
The company also owns Killington and Pico resorts in Vermont, Boreal and Soda Springs resorts in California, Mount Bachelor in Oregon and Las Vegas Ski and Snowboard Resort in Nevada.
"This was a tough decision," said Ian Galbraith, a spokesman for Vancouver, B.C.-based Intrawest, the resort industry giant that acquired the Colorado resort in 1996. "It reflects our strategy to focus on core resorts going forward."
Galbraith declined to identify which of Intrawest's 10 remaining resorts are considered "core." The list undoubtedly would include Whistler Blackcomb
Remaining Intrawest resorts include Winter Park and Steamboat in Colorado, Stratton in Vermont, Tremblant in Quebec and smaller resorts in West Virginia and Canada.
A joint news release from Intrawest and Powdr Corp said the companies "have committed to work together to ensure that all of the multi-mountain season pass products, vacation reservations and joint marketing initiatives will be honored for the 2009-10 winter season." The agreement includes the $449 Rocky Mountain Super Pass, which involves Steamboat and Winter Park.
Gary Rodgers, Copper Mountain's president and chief operating officer, reiterated that point.
"For our resort guests, it will be business as usual," he said. "We see this as a very positive step to ensure we continue to provide the ultimate Colorado winter vacation experience."
Like Utah resorts, privately owned Copper Mountain does not release its skier-day numbers. Twenty-six Colorado resorts last year had 11.8 million skier days, compared with almost 4 million for Utah's 13 ski areas.
Copper Mountain has 2,433 acres of skiable terrain (about the size of Snowbird) off 22 lifts (three more than The Canyons). Its base is 9,712 feet above sea level, about 1,200 feet higher than Alta. Its peak point is at the 12,313-foot level.
The Park City-based company owns Park City Mountain Resort and Gorgoza Park in Utah, Killington and Pico resorts in Vermont, Mount Bachelor in Oregon, Boreal and Soda Springs resorts in California, and Las Vegas Ski and Snowboard Resort in Nevada.
Besides its ownership of British Columbia's massive Whistler Blackcomb ski area and 10 other recreational resorts, Vancouver-based Intrawest owns Canadian Mountain Holidays, the world's largest heli-skiing operation and considerable real estate.
