Whistler not to be Foreclosed on Today

2010 WINTER OLYMPICS
2010 WINTER OLYMPICS
Another point of misfortune befalling the 2010 Winter Olympics is Intrawest’s financial troubles.

Intrawest, you may know, is the holding company owning Whistler-Blackcomb — the venue for the Olympic mountain events (skiing, sledding, etc).

This Reuter’s story notes the following:

The ski resort near Vancouver where the Olympic downhill events are being staged won’t go on the block in a foreclosure auction on Friday as scheduled, winning a one-week reprieve from creditors, a source with direct knowledge of the talks said on Thursday.

This is just a postponement to next Friday (February 26) of the auction not a cancellation. A regular story of late is Intrawest selling off its other resort holdings (a number of which are ski resorts) and Intrawest may manage to have the auction called off entirely. Certainly, they are spared the embarrassment of losing ownership of resort in the middle of the alpine skiing events.

Good Stuff!

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