Intrawest Corp., owner of Whistler-Blackcomb, has been named the top real estate company in the province, according to the July issue of BC Business magazine.
"We recognize we have a real-estate model that works," Intrawest spokesperson Stephen Forgacs told Pique Newsmagazine . "Our success in Whistler – and B.C. – has translated into success elsewhere."
In its annual scorecard of B.C.’s Top 100 companies, the Vancouver-based business magazine ranks Intrawest as No. 20 overall, based on its revenues of $1.22 billion in the 2000 fiscal year.
The company moved up eight spots from its No. 28 ranking in 1999.
The next closest real estate company, Charlwood Pacific Group, is rated at No. 56 with revenues of $445-million. Canadian Hotel Income Properties is ranked No. 81.
BC Business
ranks Westcoast Energy as the No. 1 company in the province, with revenues of $8.95 billion.Intrawest is ranked ahead of major resource-extraction companies, including No. 22 Teck Corp., No. 23 Weyerhaeuser, and No. 37 International Forest Products.
However, 20 forest companies do populate the Top 100 and three mining companies can be found in the Top 25.
"All industries move in cycles," Forgacs said in an exclusive interview from his office in Vancouver. "We’re doing well right now, while other sectors are currently experiencing more challenging times."
The magazine also ranks Intrawest as the No. 13 public company in B.C., up from No. 15 a year ago. This ranking is based on net income.
Intrawest’s net income increased by $27.4 million to $77.9 million in 2000 and its earnings per share rose from $1.43 to $1.80.
According to BC Business , the real estate and resort company is the 12 th most profitable in the province, with its net income accounting for 6.4 per cent of revenues. Telus Corp. is rated No. 1.
Intrawest, which employs 4,000 people in B.C., is the 11 th top employer in the province. The Jim Pattison Group is ranked No. 1 with 14,500 employees.
"When the company is doing well, that’s good news for the communities where Intrawest is a significant employer," said Forgacs. "It shows stability."
Intrawest owns resorts around the globe and has assets of $2.58 billion. The company’s major shareholder is TAL Global Asset Management Inc., which owns 15.3 per cent.
All figures are in Canadian funds.
