Under the lease agreement, which Intrawest signed in partnership with Heineken, the company will manage and operate Parque de Nieve Madrid Xanadu.
Madrid Xanadu was built by a U.S. developer, The Mills Corporation, in 2003. It has more than 220 shops and leisure activities, such as an indoor go-cart track, 15 movie theatres, and a small theme park. It features the snow dome, Parque de Nieve, as its centrepiece.
Heineken, the Dutch brewery, will manage and operate the restaurants and concessions in Parque de Nieve through its Spanish retail division, Tematicos Heineken. Intrawest will manage the marketing and sales of Parque de Nieve as well as the snow dome and its related operations including a ski and snowboard school.
Intrawest and Heineken will invest 3.5 million euros in renovations to improve the snow dome facilities.
"This is a great opportunity for Intrawest to expand our presence in Europe," said Hugh Smythe, president and chief operating officer of Intrawests Leisure and Travel Group. "We look forward to working with The Mills Corporation to enhance the visitor experience at the Parque de Nieve snow dome."