Intrawest has done a great job with Snowshoe and all the resorts they own. I sure would hate to see Snowshoe sold simply because of a corporate buyout. Hopefully Intrawest can decide what they are going to do soonest so all their resorts can get on with life and continue expansion, quality and other improvements. Indecision breeds questions in the consumers' minds! GO SNOWSHOE!!!
They apparently want to get out of the business of managing ski resorts and stick to what they see as their core competencies: building villages and real estate development.
This news, btw, caused a significant jump in Intrawest's stock price.
Yeah, I owned Intrawest stock and stupidly sold it in a downswing. I say it was a stupid sale because the day I sold it, it traded below book value, which for someone who claims to be a value investor (me) is beyond stupid. That was when the stock was at 14, about two years ago. It kind of rode the home wave up. The 10% jump a couple days ago caught my eye. At least I've made some good investments since then. But there's never a fish as big as the one that got away. Sigh...
Thanks, John. Be thankful that they didn't buy t-line. Just think of the ramifications of that.
Could you imagine. There'd be high-rise condos on every millimeter of land and 2 hour long lift lines since they don't tend to do too much slope development