Squaw Valley USA completes purchase of Village at Squaw
January 29, 2010
OLYMPIC VALLEY, Calif. and#8212; Squaw Valley USA has taken over operations at the Village at Squaw after purchasing the village community from former owner Intrawest.
According to Fridayand#8217;s announcement by Squaw, the sale was completed Thursday, Jan. 28, after 30 years of the mountain resort not operating lodging property in the valley. The price of the sale was not disclosed.
Squaw Valley USA Vice President Tom Murphy said the acquisition would make for a more cohesive user experience, but said details are still being developed.
While employees of private businesses within the village wonand#8217;t see any change, Murphy said lodging employees will see benefits other resort employees get.
and#8220;Having it all owned by a local business means any profits stay here, as opposed to going to Colorado, Vancouver, or even Florida,and#8221; Murphy said.
According to the Squaw press release, operations wonand#8217;t be affected this winter, and all reservations will be honored. Vacation and homeowner information will continue to be available at http://www.thevillageatsquaw.com.
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and#8220; … When we opened in 1949 we ran a small 50-room lodge that was occupied during the Olympics in 1960; it grew in size but our operation of this property ceased in 1979,and#8221; said Squaw Valley USA Chairman and CEO Nancy Cushing in a Friday press release. and#8220;And so the acquisition of the Village represents an exciting and greatly anticipated opportunity.and#8221;
The village and#8212; which includes two condo-hotels, six restaurants, 20 retail shops and a spa and#8212; was developed by Intrawest in 2002. The sale comes on the heels of other Intrawest sales of Copper Mountain in Colorado and Panorama Mountain Village in British Columbia.
Phone calls seeking comment from Intrawest were not returned as of press time.
and#8220;Squaw Valley USA and Intrawest are working closely together to ensure a smooth transition for stakeholders, team members and visitors to our unique mountain resort and to expand its environmental stewardship to these new facilities,and#8221; Cushing said.