Intrawest Corporation more than doubled fiscal 2006 income with $55.3 million compared with $24.1 million in 2005. While most of the profits were generated from the sale of Mammoth and much of the surrounding real estate, the company’s mountain segment reported strong results for the year. Skier visits increased 6% from 6.3 million in fiscal 2005 to 6.7 million this year. This growth resulted in a $21.3 million increase in mountain segment revenue to $299.6 million. The increased skier visits were driven by an 11% increase at Intrawest’s western resorts, which were offset by a decrease of 3% at its eastern resorts.

Whistler Blackcomb saw a 15% increase in skier visits compared with 2005, when all British Columbia operations experienced very challenging weather conditions. In Colorado, Copper and Winter Park skier visits increased 8% on a combined basis in 2006. Revenue from golf and other summer activities increased $5.9 million, due primarily to growth from mountain biking and sightseeing at Whistler.

The company said that a shift in the mix of visits from higher-yielding destination visitors to lower-yielding regional visitors reduced Intrawest’s overall effective ticket price and revenue per visit from non-ticket sources at Whistler Blackcomb. Bookings from “long-haul U.S. customers” decreased by 32% compared with 2005. This was the main reason for the decline in destination visits at Whistler.

Non-mountain, resort and travel operations revenue increased by $49.1 million in 2006 to $366.3 million. A&K travel tour revenue increased 18% as the adventure-travel tour business continued its strong rebound. A&K saw significant growth in tour revenues from all its major destinations. East Africa, the Orient, and Egypt increased 32%, 26%, and 23%, respectively.

Intrawest also entered into a definitive acquisition agreement with investment funds managed by Fortress Investment Group LLC for all of Intrawest's outstanding shares at a price of $35.00 per share payable in cash. A special meeting of shareholders is scheduled to consider the arrangement.