Intrawest ULC announced Thursday it is selling its Panorama Mountain Village to a group of local investors for an undisclosed sum.
Financial details of the sale were not disclosed, however the deal will include the resort's on-mountain and Nordic ski operations, its 50% ownership in the Greywolf Golf Course, all of Intrawest's commercial operations and lodging units in the village and the land available for real estate development.
The local group of investors forming Panorama Mountain Village Inc. includes Panorama's president and CEO Rick Jensen and local homeowners and business people.
The deal is expected to close sometime in February subject to regulatory approvals.
The sale of Panorama is Intrawest's second divestiture in recent months. In December, it closed its sale of Copper Mountain resort in Colorado, which it had owned since 1997, to Utah-based Powdr Corp.