Intrawest selling Copper Mountain to Powdr Corp.

[pinto]

[Yes, I'm home sick today and upping my post count dramatically.]

Just read this:

https://www.prnewswire.com/news-rel...for-copper-mountain-in-colorado-70290417.html

VANCOUVER and PARK CITY, UT, Nov. 17 /PRNewswire/ - Intrawest and Powdr Corp today announced they have entered into a definitive purchase agreement to sell Intrawest's interests in Copper Mountain to Powdr Corp. The transaction is anticipated to close in December 2009 and the agreement is subject to regulatory approvals including the issuance of a U.S. Forest Service special-use permit to Powdr Corp.

This winter season it is business as usual at Copper Mountain. Once the transaction is finalized Intrawest and Powdr Corp 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 2009-2010 winter season. This includes the Rocky Mountain Super Pass suite of products that provide skiers and riders with access to Copper Mountain, Steamboat Resort and Winter Park Resort. In addition, vacation packages, season passes and lift tickets for all three mountains will continue to be available online at www.skicolorado.com....

So, I know there are some PCMR, Killington, etc. divas around here ... what shall we expect? Glad I got the Steamboat option on my season pass this year.

 

[RachelV]

Ha. Well, I don't think you'll find many people that are happy with the way Powdr has run Killington since stepping in last year, but Killington's finances were in total crap shape when Powdr stepped in.

The people who are patient are saying that once Powder gets things under control finance-wise, they'll start making the improvements that everyone has been waiting for for years. The people who are impatient (i.e. most dudes on ski forums) are complaining pretty loudly.

They have done some pretty crappy things, like no longer honoring all the liftetime passes that the previous owners sold. They've taken some previously awesome events that K has been putting on for years and just done a terrible job with them.

On the other hand, a lot (most?) of the complaining is regarding not being aggressive enough with snowmaking and season length, which is less of an issue out where you are.

 

[Jilly]

And us up here, thought it was Tremblant that they were trying to sell!!

 

[MaineSkiLady]

Wow, this IS big news! I was going to chime in with same info that rachelv just delivered - lots of whining about how Powdr has managed K-ton. And, apparently, there are ongoing lawsuits (I believe now certified as class action?) against Powdr for dismissing those lifetime pass "bonds." (This is the last season they will be honored.) The length of the (traditionally long) Killington ski season was dramatically truncated at first - now they appear to be lengthening it once again. This was once K's "hallmark."

PCMR appears to be Powdr's "flagship." It seems as though most resort operators go this route, focusing more on one resort than the others when they own many -- and, sadly, in this regard, some do get left behind in terms of capital improvements, etc.

Hope that Copper is in reasonably good infrastructure shape (I really don't know, haven't been there in many years) and can hold its own through this transition. The loss next season of multi-resort options won't help matters, I'd guess. It sure didn't help Killington. Traffic was down last season there by a huge percentage.

 

[pinto]

....
On the other hand, a lot (most?) of the complaining is regarding not being aggressive enough with snowmaking and season length, which is less of an issue out where you are.

True, but Copper wouldn't be open without snowmaking yet this season, I don't think. And they ALWAYS close with oodles of snow (so does everyone else around here, except ABasin), so I hope they aren't shortening anything on that end.

I don't know that much about it, but I think they make quite a bit of money renting out to race teams before the public season and during the early season. I have no idea if it balances, though, with snowmaking and maintenance costs.

Should be interesting ... Intrawest bought Copper in 1997 (and Fortress bought Intrawest in 2006) and really dumped a bunch of money in, and was planning on dumping a bunch more but has run into planning issues with the county and of course even more recently, the economy.

Katy, where are you? What say you?

 

[Jilly]

Should be interesting ... Intrawest bought Copper in 1997 (and Fortress bought Intrawest in 2006) and really dumped a bunch of money in, and was planning on dumping a bunch more but has run into planning issues with the county and of course even more recently, the economy.

And something else called the Olympics!! Major money needed at W-B. We have had limited upgrades in anything that wasn't broke at Tremblant since 2010 was announced. Not much of that new gondola to the Versant Soliel was paid by ITW. It's lotto Quebec's really!

 

[pinto]

And something else called the Olympics!! Major money needed at W-B. We have had limited upgrades in anything that wasn't broke at Tremblant since 2010 was announced. Not much of that new gondola to the Versant Soliel was paid by ITW. It's lotto Quebec's really!

Yes, of course ... anything left after the real estate crash had to go to WB. Now they can't even hang on to Copper itself. I knew they were looking for a buyer, but that was a while ago. I kinda forgot about it.

 

[Jilly]

We've been hearing the same about Tremblant. I posted the Copper sale on the tremblant-insider and JB came back saying they - ITW - is not done yet.

 

[KatyPerrey]

I welcome the sale!!!! Anything can be better than Intawest! IMO they have done nothing in the last few years except piss people off!
I don't know much about the sale but I know there were loads of buyers all summer checking Copper out.

 

[lucine]

But how will it affect me?
Copper is my home mt.
I know that last year they weren't doing much, but rider days were way down.
Hoping for the best.
See you Katy on Dec 9

 

[pinto]

But how will it affect me?
Copper is my home mt.
I know that last year they weren't doing much, but rider days were way down.
Hoping for the best.
See you Katy on Dec 9

That silly Epic Pass had to cut into their business. (Along with the economy, of course). I was kind of happy about the Epic Pass, figuring it would cut down on Copper traffic, but maybe it was too much.

We shall see ...

 

[KatyPerrey]

But how will it affect me?
Copper is my home mt.
I know that last year they weren't doing much, but rider days were way down.
Hoping for the best.

I don't think things will change for the 2009-10 season. According to the press release everything will be honored this season.

See you Katy on Dec 9

I will be out of town till the 14th so I will see you the next week!!!

 

[KatyPerrey]

Interesting that Copper has not sent an email out to it's employees on the sale. I have heard from many friends (paid pass holders) that they received emails yesterday about the sale. I guess the employee is not important enough to know!!


Maybe it's just me and I'm not important enough to know!

 

[Robyn]

We have our coaching clinic and "mandatory orientation" (the second part only announced by email last night) this weekend so it'll be interesting to see what they have to say, if anything, about the sale.

 

[pinto]

Interesting that Copper has not sent an email out to it's employees on the sale. I have heard from many friends (paid pass holders) that they received emails yesterday about the sale. I guess the employee is not important enough to know!!

I told DH, and he snorted, "Sounds like MY company" -- a pervasive issue, I guess.

 

[tjm235]

Interesting that Copper has not sent an email out to it's employees on the sale. I have heard from many friends (paid pass holders) that they received emails yesterday about the sale. I guess the employee is not important enough to know!!


Maybe it's just me and I'm not important enough to know!

Bill Jensen sent out an all Intrawest employee email yesterday about the same time it was released to the press. It probably only went to Intrawest emails, so if you use a personal email for work (i.e. gmail, yahoo, etc.) that could be why you didn't get it.

 

[KatyPerrey]

Bill Jensen sent out an all Intrawest employee email yesterday about the same time it was released to the press. It probably only went to Intrawest emails, so if you use a personal email for work (i.e. gmail, yahoo, etc.) that could be why you didn't get it.

The only employees that have "Intrawest emails" are sups and above as far as I know! The rest of us have to read about it on the internet, newspapers and hear it from our friends! Sorry, but I think it's pretty crappy that my boss and/or Copper hasn't sent out an email to all those who aren't important enough to have an "Itrawest email"!! (and yes they have my email along with many others!!)

 

[KatyPerrey]

Wow!! 23 hours after pass holders and the rest of the world heard about the sale Gary Rodgers (PRESIDENT AND CHIEF OPERATING OFFICER) finally sent us notice of "the purchase agreement"! I still think this is pretty CRAPPY to tell us last, but this is what I have grown to expect from Copper and it's leaders!!

 

[Little Lightning]

Katy,

Was your boss off? The e-mail was sent to volunteers, Mtn Safety Patrol, at 2:17 pm yesterday afternoon. It was sent from the Safety Patrol boss. E-mail went out yesterday at 11:17 am. Delay was probably in your reporting line.

BTW, the message received by MSP volunteers was sent by Bill Jensen, CEO of Intrawest, and was addressed "To All Intrawest Employees".

 

[tjm235]

The only employees that have "Intrawest emails" are sups and above as far as I know! The rest of us have to read about it on the internet, newspapers and hear it from our friends! Sorry, but I think it's pretty crappy that my boss and/or Copper hasn't sent out an email to all those who aren't important enough to have an "Itrawest email"!! (and yes they have my email along with many others!!)

Whooa, easy there, I'm just a 'lowly' employee who happens to work at a desk, I'm not high up the totem pole by any means. Anyone who needs to use email in their daily line of work has a company-provided email, it's not just sups and above, we're just people who work at a computer, period... yes obviously at ski areas this excludes 90% of your workforce so relying on digital communication obviously can lead to misunderstandings. Sorry the company made you feel less important, but I highly doubt that was their intent. Obviously whatever list your email address resides on wasn't quickly accessible by corporate (fyi most lists of employee personal emails are maintained by the individual resorts, not by corporate). Enjoy being Intrawest free, I wish I was .