DENVER--(BUSINESS WIRE)--Intrawest Resorts Holdings, Inc. (NYSE:SNOW), a leading North American mountain resort and adventure company, today announced that the Company has completed the previously disclosed sale of Intrawest Resort Club Group, its vacation club business, to Diamond Resorts International, Inc. (NYSE:DRII).
Intrawest Resort Club Group develops, sells interests in, and manages a points-based timeshare vacation club called Club Intrawest. The transaction includes the management contracts with Club Intrawest, the current balance of notes receivable, approximately four acres of undeveloped land, and the current balance of points available for sale.
About Intrawest Resorts Holdings, Inc.
Intrawest is a North American mountain resort, adventure, and real estate company, delivering distinctive vacation and travel experiences to its customers for over three decades. The Company wholly owns six four-season mountain resorts geographically diversified across North America's major ski regions with approximately 8,000 skiable acres and over 1,130 acres of land available for real estate development. The Company also operates an adventure travel business, the cornerstone of which is Canadian Mountain Holidays, a leading heli-skiing adventure company in North America. Additionally, the Company operates a comprehensive real estate business through which it manages, markets, and sells vacation club properties; manages condominium hotel properties; and markets and sells residential real estate. Intrawest Resorts Holdings, Inc. common stock is traded on the New York Stock Exchange (NYSE:SNOW). For more information, visit www.intrawest.com.