Panorama might still be part of the powder highway, but it’s not part of Intrawest anymore.
There still may be no more difficult business than real estate these days, even as the economy supposedly recovers. And when you’re one of the biggest mountain real estate players in the game, that’s going to hurt. Part of the pain is deciding what great places to keep and what places to give up and that’s probably why the big company decided to drop Panorama. It certainly wouldn’t be because it isn’t a spectacular mountain.
With creditors asking for cash just as the Olympic Games get set to launch in Whistler, British Columbia—the company’s crown jewel—Panorama is the second mountain Intrawest has sold in recent memory. Copper Mountain recently got snapped up for a reported $100 million.
Apparently some locals are now in control of the powder paradise. Maybe it’s the perfect time for a visit, eh?