Intrawest sells Panorama ski resort to local group
Posted Jan 28, 2010 10:17 pm.
This article is more than 5 years old.
A destination popular with Calgary skiers has been sold to a group of local investors as resort operator Intrawest continues to shed properties.
Panorama Mountain Village’s new CEO is Rick Jensen, who has been a developer in the Cranbrook area for the past decade.
A group calling itself Panorama Mountain Village Inc., led by Jensen, hopes to officially take over the resort next week.
Jensen tells 660News the deal was fair to both sides, but the resort won’t be a cash cow for the new owners in the near future, as they plan to reinvest for long-term growth.
He says the operation has the potential to double in size and the new owners hope to turn it into Canada’s best four-season, mountain family resort.
The sale includes ski operations as well as a 50 per cent state in the Greywolf Golf Course.
