Intrawest, the Owner of Steamboat Ski Resort, Refinances Debt
Yesterday, it was announced that Fortress Investment Group has repaid their prior lenders in full and completed a new loan that is scheduled to mature in 2014. The details and terms of the new loan have not been fully disclosed. In early March it was reported that the new debt restructuring requires Fortress to invest more equity directly into the company.
Including Whistler/Blackcomb, Intrawest also owns and operates Steamboat Ski Resort So what implications does this have for Steamboat? The Globe and Mail states that ‘for Fortress, it’s a restart from zero. Intrawest has valuable assets, such as Whistler Blackcomb, the co-host of the Olympics’ And ‘Fortress can reasonably expect to benefit from an improving real estate market.’
For more information about Intrawest or Steamboat in general feel free to shoot me an email.