Skiiers at Blue Mountain don’t have to worry about Intrawest’s financial problems.
Blue Mountain Resort Spokesperson Kelly O’Neil says Intrawest owns 50 per cent of Blue Mountain while the Weider family owns the other 50 per cent.
The ski hills are owned by the Weider family.
Intrawest — which is owned by private equity firm Fortress Investment Group — reportedly missed payments last month due on 1.4 billion dollar loan.
Vancouver based Intrawest has been struggling with financial problems since it was bought by Fortress in 2006 for 2.8 billion dollars in cash and debt.
Intrawest has already sold several assets in order to meet the payments — including a resort at Colorado and two resorts in France.
And there are reports an auction to sell off the assests will be held on February 19th.
Kelly O’Neil says there are no plans to close any ski hills since the resort is seeing a winter season above expectations.
She adds there are also no plans in the forseeable future to lay off any staff or make any changes at the hotels.
O’Neil says for right now Blue is safe.