Intrawest Confirms Lay Offs

Ski resort operator Intrawest is laying off an undisclosed number of employees at its resorts amid reports of a big drop in advance bookings at destination ski resorts across North America.  The news follows Intrawest's eleventh-hour refinancing of a $1.7 billion in debt in late October.


“Like many companies in North America, Intrawest is not immune in this current economic environment,” the company said in a statement released to The B.O.S.S. Report late Wednesday.  “As such, we are taking the necessary steps to preserve our ability to be competitive and ensure our future success.  As part of this process we have taken the difficult step of reducing and realigning our workforce.

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Intrawest Confirms Lay Offs

Ski resort operator Intrawest is laying off an undisclosed number of employees at its resorts amid reports of a big drop in advance bookings at destination ski resorts across North America.

 

The news follows Intrawest's eleventh-hour refinancing of a $1.7 billion in debt in late October.

 

“Like many companies in North America, Intrawest is not immune in this current economic environment,” the company said in a statement released to The B.O.S.S. Report late Wednesday.  “As such, we are taking the necessary steps to preserve our ability to be competitive and ensure our future success.  As part of this process we have taken the difficult step of reducing and realigning our workforce. Impacted employees have been offered access to outplacement services to help in their transition.  Although these are difficult decisions for us, our vision remains consistent and we are committed to delivering exceptional experiences for our guests, homeowners and employees.”

 

Intrawest is one of the world's largest operators of destination resorts. Headquartered in Vancouver, BC, the company owns and operates the Whistler Blackcomb, Copper Mountain, Stratton, Steamboat and Winter Park ski resorts. 

 

The Intrawest network also includes Canadian Mountain Holidays, the largest heli-skiing operation in the world, Sandestin Golf and Beach Resort in Florida and Club Intrawest–a private resort club with nine locations throughout North America. Intrawest develops real estate at its resorts and at other locations across North America and in Europe.

 

For details on how bookings have fallen for destination ski resorts, members of the SportsOneSource network can read Monday's edition of The B.O.S.S. Report.

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