Q and A with Intrawest CEO Tom Marano
After yesterday's announcement of the ASC takeover of Intrawest, CAO Tom Morano has issued a Q and A with a letter to customers:
"On behalf of Intrawest and all of our resorts, I am thrilled to share the news that Intrawest has entered into an agreement to be acquired by a newly formed entity created by affiliates of Aspen Skiing Company and KSL Capital Partners. Below you will find the press release that we issued jointly this morning with Aspen and KSL, which includes additional details of the transaction.
"Intrawest remains committed to delivering memorable experiences to you, our guests, and it will be business as usual at our resorts. Both Aspen and KSL share our passion for the mountains and are committed to our plans to bring more value to you and more investment into our resort communities.
"As our winter season winds down with several resorts still operating, we want to thank you for your support over the winter and look forward to the excitement our summer season brings.
"We look forward to seeing you at one of our resorts soon!"
Q: What will happen to Intrawest’s passes?
A: While there are still great conditions for this year, next year’s season passes are already on sale. For the full 2017-18 winter season, Intrawest will continue to honor its multi-resort and season pass products currently on sale. This includes individual resort passes as well as the RMSP+ and the M.A.X. Pass.
Q: Will Aspen Snowmass or Squaw Valley/Alpine Meadows be added to Intrawest’s passes?
A: As passes for next year are already being sold, no immediate changes to pass products are planned.
Q: Will Intrawest and the resorts continue with business as usual?
A: Operations at Intrawest and its resorts will continue in ordinary course. For the full 2017-18 winter season, Intrawest will continue to honor its multi-resort and season pass products currently on sale.
Q: Who is Aspen Skiing Company??
A: Aspen Skiing Company owns and operates the four mountains of Aspen Snowmass – Snowmass, Aspen Mountain, Aspen Highlands and Buttermilk. In addition, it owns and operates hospitality properties The Little Nell, Residences at The Little Nell, Limelight Aspen and Limelight Ketchum in Ketchum, Idaho, as well as numerous retail and rental locations through the resort and the Roaring Fork Valley.
Q: Who is KSL?
A: KSL is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; and London, England.