Intrawest 2nd-quarter results down from 2001 | SummitDaily.com
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Intrawest 2nd-quarter results down from 2001

VANCOUVER, Canada – Intrawest Corporation’s second-quarter revenues fell more than $23 million shy of the same period in 2002, but the addition of Winter Park to the company’s operations has yet to be fully felt.

Ski and resort operations led Intrawest’s revenues up $21.4 million from last year to $108.9 million. The increase was fueled by strong holiday attendance at the company’s resorts.

“Our resorts performed extremely well in the quarter, with strong attendance during the holiday from coast to coast,” Intrawest chairman, president and chief executive officer Joe Houssian said in a press release. “We closed the quarter with Colorado’s Winter Park joining the Intrawest resort family on Dec. 24. This will add a million skier visits a year to the Intrawest resort total.”



Real estate revenue was down to $99.4 million from $141 million in the same quarter last year. Intrawest is pushing real estate closings for the third and fourth quarters this year. In the second quarter of 2002, Intrawest closed on 450 units, compared to 243 during the same period this year.

The second quarter report also said season pass sales were up 12.4 percent across all resorts excluding Winter Park. Frequency pass sales, such as Copper Mountain’s “Four Play,” were up 23.2 percent.



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Reid Williams can be reached at (970) 668-3998, ext. 237, or rwilliams@summitdaily.com.


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