Gloomy Financial Times, published by Intrawest/Fortress (photo via UnofficialSquaw.com)
Another day, another asset sale for Intrawest.
Presumably in a further effort to help pay down debt, and to attempt to secure yet another extension on their debt requirements with their Lenders, Intrawest has sold a relatively small real estate holding, The Village at Squaw Valley(Squaw Valley, Lake Tahoe, California, the home of the 1960 Winter Olympics). It was bought by the current owner of Squaw’s mountain operations, Squaw Valley USA.
This follows the larger sales of Panorama Mountain Village(B.C.) last week, Copper Mountain(Colorado) in November 2009, and some resort holdings in France in August 2009.
Sensing a trend yet?
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