Net income was $174.5 million, representing a 35.6 percent increase compared to the prior year period, primarily attributable to the $40.5 million gain on the sale of Intrawest Resort Club Group.

Intrawest’s Mountain segment, consisting of its six winter resorts, showed a 1.1 percent year-over-year decline, due largely to unfavorable currency adjustments, totaling $255.4 million. The company’s Adventure Segment—which includes Canadian Mountain Holidays—saw revenue grow by $4.3 million, or 9.5 percent, to $48.8 million, primarily due to increased guest nights and higher yields at CMH.

Mountain adjusted EBITDA was $136.7 million compared to $135.7 million in the prior year period, due to a $2.7 million decrease in Mountain revenue, offset by a $3.6 million decrease in Mountain operating expenses.

Adventure adjusted EBITDA improved by $5.8 million, or 37.5 percent, to $21.2 million, primarily due to the $4.3 million increase in Adventure revenue and a $1.6 million decrease in Adventure operating expenses.

“Outstanding performance at our Colorado resorts and at CMH more than offset the unprecedented warmth we experienced at our Eastern resorts this winter,” stated Tom Marano, Intrawest CEO. “We believe these results reflect the strength of our season pass and frequency product program, the impact of recent capital improvements, and the high quality guest experience we provide at our mountain resorts and CMH."