Intrawest Corporation and Four Seasons Hotels Limited concluded an agreement that will bring a 242-suite Four Seasons luxury resort to a premier site at Whistler Blackcomb, North America’s top ski resort. The plan was unveiled on January 10, 2002.
The $150 million development will be Intrawest’s largest single project to date and will feature a fully equipped spa facility, restaurants, conference and meeting rooms and related retail areas. The guest rooms, ranging in size from 590 to 3,000 square feet, will be sold individually to investors who will be entitled to use them for up to eight weeks per year and receive a share of net hotel revenue for the rest of the year through mandatory participation in a rental pool. The hotel will be Four Seasons’ first mountain resort and its first new property in Canada in 20 years. Prices are expected to range from $350,000 to $2.3 million per suite, the highest ever at Whistler. Construction is scheduled to commence this spring for an opening in the summer of 2004.
Intrawest was represented by Keith Burrell and Russell Benson of McCarthy Tétrault LLP in Vancouver. Four Seasons was represented by Mario Di Fiore in Toronto and Doug Bolton in Vancouver of Goodmans LLP