Tuesday, February 2, 2010

Intrawest sells The Village at Squaw Valley

SAM reports late last week, Squaw Valley USA announced that it has completed the acquisition of The Village at Squaw Valley, a four-season mountain resort village at the base of the ski resort, from Intrawest.
The Village was started in 2002 and was developed by Intrawest. Last week's transaction includes all of Intrawest’s real estate holdings and operational assets including lodging operations at two condo-hotels and commercial assets whose tenants include six restaurants, 20 retail shops and a full service spa. With the transaction completed, Squaw Valley Ski Corp will oversee all of the day-to-day operations of The Village at Squaw Valley in addition to their current ownership of the on-mountain operations at the ski resort, Squaw Valley USA.
"We at Squaw Valley USA are very pleased to integrate the Village at Squaw Valley with our own operations, to provide a seamless resort experience for our guests. It is a reversal of philosophy as Squaw Valley Ski Corp has not operated a lodging property for 30 years", says Squaw Valley USA Chairman & CEO Nancy Cushing.