Sector: Mountain Resorts
Region: United States & Canada
Date of Initial Investment: 2007
Business Description: Purchased in 2007 along with a strategic partner as a leading owner of mountain resorts and luxury adventure travel businesses. The value-add strategy was to restructure Intrawest to focus on growing its core destination resort business and divest its non-core real estate assets. In 2014, Intrawest completed an IPO of Intrawest Resorts (NYSE: SNOW), which encompasses the mountain resorts and a heli-ski operator, Alpine-CMH. Grove and the strategic partner maintain a significant ownership interest in Intrawest Resorts and their existing interest in Abercrombie & Kent, a luxury adventure travel business.