Squaw Valley, circa 1957 (photo by Mary Randolph Coleman Spencer)
Snowshoe’s parent company appears to have accelerated its efforts to shed assets to raise cash to hold off creditors who have threatened to take over the company’s assets— as Intrawest’s sale of the Village at Squaw, a major component of Squaw Valley, was announced January 29, just a day after a proposed sale of Panorama Village, a Canadian resort, was announced. These efforts come on the heels of the sale of Copper Mountain, Colorado. Intrawest’s flagship resort, Whistler Blackcomb, is a major Alpine site for the upcoming Winter Olympics.
Hope Intrawest sheds Snowshoe as well, and that a local group steps up to take over. Commenting on the Squaw valley sale :
“Squaw Valley USA Vice President Tom Murphy said:
“Having it all owned by a local business means any profits stay here, as opposed to going to Colorado, Vancouver, or even Florida,” Murphy said.