Psst, fancy buying a second hand ski resort?
With rather unfortunate timing, the company that owns WhistlerBlackomb resort – Intrawest – has been put up for auction.
The group was bought for £2.8 billion in 2006 and creditors Fortess are holding the auction after failing to make the final payment on a $1.7billion loan to buy Intrawest.
Fortress says it’s in the process of refinancing the loan and will operate ‘business as usual’ at all of its resorts.
However the auction of the company’s assets (which include the Winter Olympics destination and a dozen other resorts in North America) is currently scheduled to take place on February 19 – the same day as the men’s super G is scheduled to take place on the Olympic course.
tags:
by lorene
by tuff enuff
by Quik564
by lizpane
by ridingswitch