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Powdr Corp to Purchase Copper Mountain, a Local Summit County Ski Resort

Posted by Breckenridge Associates Real Estate on Wednesday, November 18th, 2009 at 1:29pm.

Park City, Utah-based Powdr Corp. is set to purchase Copper Mountain Ski Resort for an undisclosed amount with the deal expected to close in December, pending approval from the U.S. Forest Service and Federal Regulators.

Intrawest Corp., the current resort owner, ran into financial trouble about a year ago and rumors circulated that the company may need to sell assets to raise cash to finance current loans. Powdr Corp. brings years of ski industry operations experience to the table and is the owner of and operator of seven resorts: Park City Mountain Resort in Park City, Utah, Killington Resort and Pico Resort in Killington, Vermont, Mt. Bachelor in Bend, Oregon, Boreal Resort and Soda Springs Resort, both in Donner Summit, California, and Las Vegas Ski and Snowboard Resort outside of Las Vegas, Nevada. Adding Copper Mountain to the resort family seems to be a natural fit.

Copper Mountain has 2,433 acres of skiable terrain with 22 lifts. Guests can expect "business as usual" at the resort this winter. Pass products and agreements with Winter Park and Steamboat will be honored throughout the 2009-2010 season.

Copper Mountain Resort COO, Gary Rodgers was quoted in the Summit Daily News stating “We believe this transaction represents a positive outcome for Copper Mountain and it will provide numerous benefits to Summit County. Powdr Corp operates several ski resorts throughout North America and Copper will be an important addition to their resort family and their first resort property in Colorado.”

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