Intrawest Pays $8M for Copper Mountain Club Med

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.