X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

COPPER MOUNTAIN, CO-Intrawest Corp., the Canadian owner of the Copper Mountain ski resort along US 70, west of Denver, is paying $8 million to Paris-based Club Med for its operation at Copper. Club Med will leave Copper Mountain after 21 years, but will be looking to open another one of its vacation package spots in another ski resort owned by Vancouver, BC-based Intrawest.

After the Sept. 11 terrorist attacks, Club Med found winter bookings at some resorts had fallen 15% to 50%. In addition, guests at Copper Mountain thought the rooms there were too small.

Intrawest, which has invested $500 million to create a village at the base of Copper, may use some of the Club Med building for employee housing.

It also could use some of the building for retail and office space. Commercial space also could be developed on the ground at the base of the Club Med building.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.