mammoth deal 

Intrawest concludes Mammoth deal The Intrawest mountain resort empire expanded for the third time in just over a year with the purchase of 33 per cent of Mammoth and June Mountain ski operations in California last week. The parent company of Blackcomb also purchased three parcels of land, totalling 130 acres, which it plans to develop 1,500 housing units on. Mammoth, which was developed by one of the legends of the ski business, Dave McCoy, was ranked the number three ski resort in North America this fall by both SKI magazine and Snow Country. Intrawest will provide input into the mountain operations, particularly the relationship between the real estate side and ski operations, but Mammoth Mountain and the McCoy family will continue to manage the ski operations. "We have been looking for a company like Intrawest to come to Mammoth for some time and to join us in the development of our real estate," company president Dave McCoy said in a press release. "After working with Intrawest over the past 18 months, we are convinced that they are the most qualified and experienced ski mountain and village planners and developers in the country and that they are right for Mammoth." Intrawest has always sought mountain resorts with year-round potential when looking for new acquisitions. Mammoth, and nearby Mammoth Lakes, fit that profile. Summer activities include an extensive mountain bike park, fishing, board sailing and water skiing on nearby lakes. Yosemite National Park is a one-and-one-half-hour drive away. Mammoth and June Mountains together consistently attract one million skier visits annually, with the largest single source of skiers being Los Angeles, which is five hours away by car. Combined operations include 39 lifts (31 on Mammoth), 4,000 acres of skiable terrain (3,400 acres on Mammoth) and an uphill lift capacity of 65,000 skiers per hour. Mammoth averages 345 inches of snow annually. McCoy started ski operations in 1938 with a portable rope tow. Mammoth Lakes is a sprawling town with no real core area and a heavy dependency on cars. Intrawest plans to develop 14 acres in Mammoth Lakes, dubbed North Village, which will have ski slope access. Another 24 acres at Juniper Ridge has the potential for ski-in, ski-out real estate. The largest parcel purchased by Intrawest, 92 acres, is at the base of June Mountain. The acquisition of Mammoth is the third American mountain resort Intrawest has bought into and should satisfy the Vancouver company’s plans for the U.S. market for the foreseeable future, according to a spokesman. Intrawest has bought Stratton Mountain in Vermont and Snowshoe Resort in West Virginia in the last 18 months. The company is also undertaking a major real estate and village development at Keystone Resort in Colorado in partnership with Ralcorp, formerly part of Ralston Purina Company. Intrawest also owns Mont Tremblant in Quebec and Panorama Resort in B.C.

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