Fortress Investment Group, Whistler Blackcomb's owner, is said to be exploring other options as well, including spinning off the resort into a separate company and doing an IPO.
Fortress paid $2.8 billion in 2006 for the Intrawest empire, and has seen nearly all of its $1.6 billion equity stake erased. Fortress restructured $1.4 billion in debt back in April, and has $1.2 billion in new loans as a result. The loans stretched out the payment period to 2014, but came at a higher interest rate. Intrawest also sold several properties, including Copper Mountain, Panorama resort, and the Sandestin golf resort, and paid down $150 million of its debt before it restructured its loans. More recently, Intrawest sold Mountain Creek resort in New Jersey.