While North American ski resorts are characterized by large companies with a wide range of additional services, the European Alps dispose of small and medium-sized cable car companies and are now facing new challenges of globalization and internationalization.

The ski industry is facing new challenges all over the world. The development from the end of World War II shows that ski resorts have evolved from properties based on downhill skiing to mountain tourism resort communities (Goeldner, 1999). In today's resorts skiing is only one element of the overall offer: cultural and entertainment facilities, spa and physical fitness facilities, factory outlet to upscale shopping, real estate investments etc. are often responsible for the growth of these societies or ski resorts. Especially in North America, a number of mergers and acquisitions during the last decades led to the development of big 'consolidates'. Concerning strategic orientation and organization, these combines are similar to multi-business companies in other industries, and concentrate on the integrated development of resorts. Until now, European societies have escaped the tendencies of large mergers and concentration. Due to ever more difficult markets and some winters with very little snowfall, however, a number of smaller ski resorts now face a precarious financial situation. In addition, European integration leads to an alignment of the states financial subsidies for investments in skiing areas, resulting in the reduction of essential investment promotions from national or local governments in many resorts in the European Alps. In Europe, up to now cooperative forms are to the fore concerning the establishment of competitive destinations (Osti and Pechlaner, 2001). A typical example is the cooperation of various valley communities or societies in connection with the integrated offer of ski passes. The big difference between the North American situation and that in the European Alps is the existence of larger companies in North America, some of them even listed on the stock market. With the exception of the French skiing centers, in the European Alps there are only smaller companies, facing new challenges in the course of tendencies towards globalization and internationalization.

Intrawest for example is the leading developer and operator of village-centered destination resorts across North America. With a network of resorts ranging from the tops of towering mountains to championship golf courses and pristine beaches, our playgrounds offer the allure and beauty of nature with the promise of experiences to last a lifetime.

The Intrawest network of resorts has captured the hearts of a loyal and growing customer base. With over 7.0 million skier visits on 10 mountains (2000/2001), thousands of golfers on 20 championship golf courses, and many more visiting lakeside and ocean beaches, Intrawest is positioned among the leaders in the leisure industry. As a global leader in the design, development and operation of four-season resorts, Intrawest is committed to building a network of destination resorts and resort clubs that are second to none. Intrawest's network of resorts will include getaway places, romantic places, healthy places, and learning places for both our guests and our employees. Places not only for adventure and discovery but also places that inspire the soul. Places with a level of service and a standard of hospitality that can best be measured by the frequency of visiting smiles. The mission of Intrawest is to "create memories for our guests and staff as the best mountain, beach and resort experience...again and again."

Anita Zehrer

13.12.2004