NEW OWNER FOUND ?
All that remains is to fit each of the pieces together quickly over the next few days so a final announcement can be made.
To complement the existing resort manager, Matt Koenig (and his team), a prospective new owner/operator and funding partners have been found and tentative agreements with the first mortgage holder, the provincial authorities and others have been lined up. “It has been a lot of work at a very hectic pace,” said Gary Powroznik, Managing Director of G-Force.
“Alpine resorts are tough to resurrect in a short timeframe because they are specialized capital intensive businesses which require available experienced management and adequate financing, both of which can be hard to find in a short timeframe. It is also important that the prospective new operator/owner have a completely new start from the existing insolvent company,” said Powroznik.
Once the puzzle pieces are joined together, the prospective new owner expects to announce season passes and other programs in the next few days.