A Month Until Bliss!

Colorado says BOO! to global warming!

Just kidding. It’s bad, we acknowledge it, but the very thing we are famous for, great snow, just keeps getting better. With continuous pre-season snow dumps in the past few weeks, the 2006-2007 season is already off to a valorous start. Last season will be hard to break: record snow falls, 12.5 million visitors from all over the world. Snow in early September usually does not give any indication on how the actual season will progress, but at least it gets people excited! For those aching for some quality time in the pow pow, a little white on the mountain peaks is enough to inspire endless chats with fellow ski and boarder friends, and an excuse to max out your credit card on some new gear. Let it snow!

Incredibly Colorado received a snow storm that came around 1 month earlier than past years. The storm made its way through the mountains from the Glenwood Spring area all the way east across I-70 through Idaho Springs which is close to Denver. Winter Park was included in mother natures blanketing of the land much to the avid skiers delight. Will the ski resorts open sooner this year than last? Perhaps, but it will not be surprising with Colorado weather to see temperatures hit well into the 60s+ within a week. Ski resort lovers should not get too excited just yet. (more…)

VACATIONS INC. TEAMS UP WITH WINTER PARK SKI RESORT
FOR THE 2006-2007 SEASON

Winter Park, CO September 12, 2006 – In conjunction with Winter Park Ski Resort, Vacations Inc. will reintroduce the Free-4-All lift ticket/lodging program valid through April 2007.  The program features a free day of skiing and night of lodging when three nights of lodging and three days of skiing are purchased.

Winter Park Resort is slated to open on November 15th for another year of world-class skiing and snowboarding.  The epic resort has added a new chairlift and seven new runs for the 2006-2007 season.  $4.8 million dollars worth of improvements have been made to both the front slopes (Mary Jane) and the back bowls (Parsenn Bowl.)  Winter Park Resort now boasts 143 trails for the ultimate Rocky Mountain snow experience.

Vacations Inc., an industry leader in vacation rental management, wanted to enhance the comprehensive Winter Park experience with the Free-4-All program.  Guests can choose from, affordable condos, exquisite town homes or luxurious private homes for their Winter Park winter vacation.

Brian Lence, Vice President of Sales & Rental Management for Vacations Inc. says about the special discounts, “Winter Park Resort has been synonymous with the Free-4-All program ever since its introduction 6 years ago. The offer has a proven successful track record and is a key component in attracting repeat and new guests to Winter Park year after year. Winter vacationers wanting to take a ski or snowboard trip this season really need to take a closer look at this great offer.”

Those wanting to take part in this special should be notified that some restrictions do apply. Guests are encouraged to call or visit our website for exact terms and conditions.

Vacations Incorporated is one of the longest-established rental management companies in the Winter Park & Fraser Valley. Currently representing in excess of 200 Homeowners and with 35 years experience in the rental management and resort hospitality industry, Vacations Inc is at the forefront in providing memorable winter or summer vacation experiences at, arguably, the best value in town.

My previous two posts on the proposed buyout of Intrawest by Fortress Investment Group concentrated on the details of the deal, local and market opinion, and an attempt to learn more about Fortress. Armed with this information, here’s my own take on the Intrawest buyout:

A Good Fit: Intrawest obviously fits the mold for Fortress Investment Group. While the ski industry cannot necessarily be classified as a growth industry (but steady it probably is), the coupling of real estate interests within the overall operation acts as a strong counterbalance to any vagaries the political or geological landscape can create. The recent sales performance of Intrawest has given an indication of management’s ability, and retained cash is a key indicator for potential return for the private equity investor.
Diversification: Always one of the soundest principles in investment and asset management, Fortress is indeed diversified in their acquisitions – across industries and overseas. Resort management would be equally diverse, albeit with a real estate bias, providing as it does a strong indication as to the continued inherent real estate potential of this valley.

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My previous post on the buyout of Intrawest Corporation, operator and managing developer of Winter Park Resort, by New York-based Fortress Investment Group LLC, concentrated on the details of the deal and the immediate reaction from Winter Park Resort personnel and locals.

However, it is also appropriate to find out what the financial analysts were saying. After all, this involves the sale of a publicly traded company. Not just that, this acquisition represents the biggest-ever buyout of a publicly traded resort operator, and the third largest private equity acquisition of a Canadian company. Because of this gap in informed opinion, I decided to do a little digging. (more…)