Mountain Creek Sold

[RootDKJ]

VERNON -- Intrawest, the financially troubled ski resort operator, has sold its Mountain Creek resort in Sussex County to a group led by developer Eugene Mulvihill, who operated the property when it was known as Great Gorge during the 1980s, The Star-Ledger has learned.

Terms of the transaction were not disclosed, but Mulvihill said the deal closed last night.

A news release is scheduled to be released later today. Intrawest could not be reached for comment.

Mulvihill said his investment group includes Morton Davis, chairman of D.H. Blair Investment Banking in New York and investors Robert Bauer of Cranford and Burton Kaufman, of Binghamton, N.Y.

The transaction includes the resort and its real estate properties, according to Mulvihill, who plans to add "other amenities" to the resort to complement the golf courses he operates in nearby Hardyston.

"It's the only major ski resort within an hour of New York City, and it has one of the best terrain parks for snow boarding," Mulvihill said in a phone interview.

The resort has 1,500 condos and has the capacity to build another 1,500, he said. The developer expects to build hotels at the location and add other sports attractions.

Mulvihill and his partners have potential plans to add retail stores, a craft village, an indoor water park, organic food shops and a tropical rain forest in Vernon Valley.

"These are all things we are thinking about," he said. "When we announce something, we will do it."

Mountain Creek will benefit from the Crystal Springs golf resort that he operates in nearby Hardyston.

Intrawest announced last month it had refinanced its corporate debt after lenders nearly forced the company to be sold at auction because it missed a loan repayment in December. The Vancouver, B.C., company has been struggling for months and has been selling some of its properties to reduce debt. Intrawest owns Whistler-Blackcomb, the resort where the Winter Olympics was held this year.

 

http://www.nj.com/bu...rt_sold_to.html

[Switchsideskier.]

does anybody on here even ski Mountain Creek?

 

I do a few times a year, but you gotta get there early, and leave by 4pm

[Justo8484]

"It's the only major ski resort within an hour of New York City, and it has one of the best terrain parks for snow boarding," Mulvihill said in a phone interview.

 

what a goober

Edited May 27, 2010 by Justo8484

[Margaritaville Skier]

Great Gorge was good in it's day back in the 60's, early 70's. Decent terrain and the snow making wasn't all that bad. Went to hell when it merged with Vernon Valley.

[Ride Delaware ?]

I used to want to board here, but if I am making the trip up from Delaware and not staying with friends from college, I might as well drive the extra hour to the catskills... Not the greatest, but better than the Creek... I don't see the improvements they could make there unless they were to make a MASSIVE terrain and high speed lift expansion... Theres just too many people... I'm guessing its a good cash cow, but their season has been so short lately and their snowmaking and base don't seem to be up to the competition...