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Intrawest may not go to auction after all

Company is weighing its options after aggressive move by creditors

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By Jesse Ferreras and Andrew Mitchell

Is Whistler-Blackcomb for sale? Is there a chance that the resort could be closed for the Olympics, or that the Vancouver Organizing Committee would stop their payment to the resort and throw the Games into chaos?

The rumour mill has been working overtime since last week when a group of Intrawest's creditors announced plans to sell their interest stake in Intrawest at an auction - after Intrawest twice failed to meet deadlines for repayment of a loan.

How much is owed? Who is it owed to? What does that mean for Whistler Blackcomb, Whistler or the 2010 Games?

It's a complicated and confusing story, but according to a statement by Whistler Blackcomb president and COO Dave Brownlie it's unlikely that any of the financial dealings in New York will directly affect resort operations in the short term, or the resort's ability to host the alpine events of the 2010 Games.

"Whistler Blackcomb's day-to-day operations continue to run business-as-usual. We are having an extremely successful year to date, thanks to a lot of hard work to overcome Olympic aversion, a focus on delivering a great guest experience, and of course the incredible snow we've had. Our season pass and Edge Card sales have exceeded our expectations this year and we are generating strong cash flow from our resort operations," wrote Brownlie.

"We cannot stress enough that it's business as usual at Whistler Blackcomb. Our lifts are turning every day and we're hosting thousands of skiers and snowboarders around the world."

 

 

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