MAMMOTH LAKES, CA-Intrawest Corp. has sold an 85% interest in the Mammoth Mountain Ski Area here for $310 million. The Vancouver, BC-based resort developer retains a 15% interest in the property as well as the management assignment. The new majority owner is an entity controlled by Greenwich, CT-based Starwood Capital Group Global LLC.

The deal was based on an enterprise value of $365 million. Intrawest says the transaction has resulted in a pre-tax profit to Intrawest of approximately $101 million that initially will be used to pay down debt. In a related transaction, Intrawest and Starwood have entered into a preliminary agreement for a joint venture on the development of the majority of Intrawest’s separately owned real estate in the Town of Mammoth Lakes. The agreement is expected to be finalized by the end of January.

Mammoth Mountain Ski Area is a four-season mountain resort company that owns not only Mammoth Mountain but also June Mountain, Tamarack Lodge, Mammoth Mountain Inn and Resort, Mammoth Snowmobile Adventures and Mammoth Mountain Bike Park. The company also operates Sierra Star Golf Club in Mammoth Lakes. Mammoth Hospitality Management, a 50/50 joint venture between Mammoth Mountain and Intrawest, currently manages over 380 units in the Village at Mammoth and will manage future units developed by Intrawest at Mammoth.

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?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.