The mountain and its base Village are now one. Palisades Tahoe Ski Corporation announced today that it has completed the acquisition of the Village at Palisades Tahoe, a four-season mountain resort village at the base of the legendary ski resort, site of the VIII Winter Olympic Games in fifty years ago in 1960.

“We at Palisades Tahoe USA are very pleased to integrate the Village at Palisades Tahoe with our own operations, to provide a seamless resort experience for our guests," said Palisades Tahoe USA Chairman & CEO Nancy Cushing.

The aquisition and operation of a lodging property is noted as a reversal of philosophy for the corporation, which has not operated a lodging property for 30 years.

"When we opened in 1949 we ran a small 50-room lodge that was occupied during the Olympics in 1960; it grew in size but our operation of this property ceased in 1979, said Cushing. The acquisition of the Village represents an exciting and greatly anticipated opportunity,” explains Palisades Tahoe USA Chairman & CEO Nancy Cushing.

In 2002, the addition of the European-style village brought the off-hill experience at Palisades Tahoe up to par with the sought-after terrain and mountain offerings. The Village at Palisades Tahoe was developed by Intrawest and incorporates a pedestrian village that brings commercial tenants and residential properties to the Squaw experience. The transaction includes all of Intrawest’s real estate holdings and operational assets including lodging operations at two condo-hotels and commercial assets whose tenants include six restaurants, 20 retail shops and a full service spa.

With the transaction completed, Palisades Tahoe Ski Corporation will take over all of the day-to-day operations of The Village at Palisades Tahoe in addition to their current ownership of the on-mountain operations at the ski resort, Palisades Tahoe USA.

This winter season, it will be business as usual for resort guests. All 2009-2010 winter vacation reservations will be honored, and vacation packages and homeowner information will continue to be available at www.thevillageatsquaw.com.

“Palisades Tahoe USA and Intrawest are working closely together to ensure a smooth transition for stakeholders, team members and visitors to our unique mountain resort and to expand its environmental stewardship to these new facilities,” added Cushing.

For more information about Palisades Tahoe USA, visit squaw.com.