VANCOUVER – Nov. 11, 2004 – Storied Places, a division of Intrawest, will build two new Storied Places communities in Tremblant, Quebec, and Sandestin, Florida, expanding the company's innovative brand of resort home co-ownership that redefines the Private Residence Club (PRC) industry in North America.
Storied Places Tremblant is the first PRC development to be built in Quebec. Storied Places Sandestin (Inspiration), at Sandestin Golf and Beach Resort on Florida's Emerald Coast, is Storied Places first beach and golf community to be developed in North America. These two new locations join Whistler and Lake Tahoe as home to a Storied Places community.
Reservations are now being taken at Storied Places Tremblant and Storied Places Sandestin, with Phase 1 construction for these two projects estimated for completion in summer 2005. Storied Places is redefining the PRC segment of the real estate industry by offering a sophisticated Chaptered Ownership model and advantaged access to all the best a resort area has to offer.
"We created Storied Places to fulfill a need that was not being met by other major players in the Private Residence Club segment," said Michael Coyle, Executive Vice President Intrawest Placemaking. "Everything at Storied Places is centered around creating a genuine sense of community where owners are recognized by name and where friendships can be rekindled year after year." The trend towards shared ownership of resort homes - known as fractional real estate - is gaining tremendous momentum throughout North America.
According to recent data from Ragatz Associates, there are 151 resorts offering significant fractional opportunities, with 132 in the United States and eight in Canada. The industry is growing 150% per year and is only in its infancy as a trend in second home ownership. Intrawest is a leader in the PRC industry, introducing in 2002 its first
Storied Places community in Whistler, British Columbia. With two communities now built, two new Storied Places in development, plus two more proposed for the near future, the company is the North American industry leader in the design, construction and operation of PRC developments.
"In today's often hectic world, Storied Places communities are a refuge to re-energize and re-connect with family and friends. They foster a sense of belonging we believe people crave, but seldom find with traditional resort accommodations," said Alasdair Douglas, Vice President of Sales and Marketing for Storied Places.
Storied Places is a division of Intrawest Corporation, where resort home co-ownership opportunities are continuously being developed in numerous irreplaceable locations in North America. The first two Storied Places are Storied Places Whistler (At Nature's Door, Whistler, British Columbia) and Storied Places Lake Tahoe (Tonopalo, North Lake Tahoe, California). Two new Storied Places communities are now taking shape - Storied Places Tremblant in Quebec and Storied Places Sandestin on Florida's Emerald Coast - with Phase 1 construction for these two projects estimated for completion in summer 2005. Other Storied Places proposed for development include Mammoth, California and Lake Las Vegas, Nevada. For more information visit http://www.storiedplaces.com.
Intrawest Corporation (IDR:NYSE; ITW:TSX) is one of the world's leading destination resort and adventure-travel companies. Intrawest has interests in 10 mountain resorts in North America's most popular mountain destinations, including Whistler Blackcomb, a host venue for the 2010 Winter Olympic Games.
The company owns a 67% interest in Abercrombie & Kent, the world leader in luxury adventure travel and a 45% interest in Canadian Mountain Holidays, the largest heli-skiing operation in the world. The Intrawest network also includes Sandestin Golf and Beach Resort in Florida and Club Intrawest – a private resort club with its ninth location in Zihuatanejo, Mexico opening in December 2004. Intrawest is developing five additional resort village developments at locations in North America and Europe. Intrawest is headquartered in Vancouver, British Columbia. For more information, visit
http://www.intrawest.com.
For further information and/or visuals please contact:
Melissa Clancy, Brand Marketing Manager
Storied Places
Phone: (604) 648-3419
mclancy@storiedplaces.com
Bill Eisenhauer or Deirdre Campbell
Tartan Public Relations
Phone: (250) 592-3838
bill@tartanpr.com or deirdre@tartanpr.com
