SAM Magazine-Vancouver, B.C., Dec. 29, 2009-Intrawest's current debt negotiations will not have any impact on the upcoming Winter Olympic Games, an Intrawest spokesman emphasized to SAM today. "Our venues are finished, preparations are nearly complete and we look forward to welcoming the world to Vancouver," added Dave Cobb, deputy chief executive officer for the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games, in a statement released last week.

On Dec. 23, Intrawest CEO Bill Jensen said in a prepared statement, "Intrawest continues to be in active dialogue with our lenders regarding refinancing a term loan. Our core ski operations are off to a very good start this season and it is business as usual for Intrawest. We are continuing to provide our customers and homeowners with the memorable experiences that they have come to expect when they visit our resorts." A spokesman told SAM today that there are "no additional comments from our company at this time."

"Intrawest is generating strong cash flow from its resorts, is well capitalized, and core ski operations are off to a very good start this season," Jensen said, according to a Bloomberg News report last week.

According to the Bloomberg report, Intrawest in September presented lenders with a plan to reduce its debt. One part of that plan was to sell assets, as Intrawest did last month when it agreed to sell Copper Mountain to Powdr Corp. Bloomberg reported that a person familiar with the debt negotiations said a portion of the proceeds of the sale would be used to pay lenders. While the sale price for Copper has not been publicly disclosed, Bloomberg learned that Intrawest told lenders the price could be as high as $107.4 million.