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Nov. 18, 2009 / 1:47 PM

Colorado ski resort to change hands

FRISCO, Colo., Nov. 18 (UPI) -- Intrawest, owners of the Colorado ski resort Copper Mountain, said it had agreed to sell the business to the Powdr Corp, owners of seven other ski resorts.

The deal is expected to close in December, pending reviews by regulators and the U.S. Forest Service, the Frisco, Colo., Summit Daily News reported Wednesday.

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Financial analysts had speculated that developer and resort operator Intrawest would need to sell some assets after struggling with a downturn in real estate markets.

Powdr Corp., a Park City, Utah, firm owns ski resorts in Utah, California, Vermont, Nevada and Oregon. Copper Mountain would be its first foray into Colorado.

The resort's President and Chief Operating Officer Gary Rodgers said the sale would "represent a positive outcome for Copper Mountain and … provide numerous benefits to Summit County."

Copper Mountain said all previously made reservations would be honored. The resort would operate in its normal capacity this winter, the company said.

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