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Pacific Group Resorts, Inc. Submits Top Bid for Jay Peak at $76 Million
PGRI president and CEO Vern Greco shares his thoughts on the acquisition with SAM. SAM Magazine—Jay, Vt., Sept. 8, 2022—Pacific Group Resorts, Inc. (PGRI) made the highest and best final bid to buy Jay Peak, $76 million, following an auction with multiple bidders. PGRI president and CEO Vern Greco told SAM that after three years spent pursuing the acquisition, PGRI is poised to bring renewed stability to the resort and its staff, and tap into its passion and energy. The prevailing bid remains subject to approval by the United States District Court in Southern Florida during a final hearing scheduled for Sept. 16. Judge Darrin P. Gayles, who has presided over the receivership in federal...
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SAM Magazine--West Dover, Vt., January 24, 2014--A 120-million-gallon water storage pond for snowmaking and a new 36,000-square-foot base lodge for guest services are two of the projects Mount Snow will fund through EB-5, an immigrant investor program. The projects, newly approved under the Vermont EB-5 Regional Center, total $52 million in investm...

SAM Magazine—Aspen, Colo., Jan. 23, 2014—Aspen Skiing Company (ASC) and ESPN have reached an agreement that will have the X Games calling Aspen/Snowmass its home until 2019. Now in its 13th year, ESPN chose to continue its long-term partnership with ASC, already the longest-tenured X Games host. And by 2019, Aspen/Snowmass will have hos...

SAM Magazine—Denver, Jan. 16, 2014—Favorable snowfall in December in most mountain regions in the U.S. helped boost lodging occupancy and revenues for the month, according to DestiMetrics (formerly the Mountain Travel Research Program, aka MTRiP). The upward trend in both occupancy and revenue is carrying into the remainder of the seaso...

SAM Magazine--Salt Lake City, Utah, January 15, 2014--Wasatch Equality announced today that it has filed a lawsuit against Alta and The U.S. Forest Service in an attempt to open the ski area up to snowboarders. The non-profit group was formed solely for this purpose. The following is a portion of the group's release: SALT LAKE CITY — J...

SAM Magazine—Denver, Jan. 14, 2014—Despite late and so-so snowfall and average visitation, U.S. winter resorts posted a record level of operating profit in 2012-13, and their second-highest gross revenue, according to the recently published 2012-13 Economic Analysis of United States Ski Areas. The report, prepared by RRC Assocs. and the...

SAM Magazine--January 14, 2014--Colorado Ski Country USA (CSCUSA) announced today that its 21 member resorts reported an increase in skier visitation for the beginning of the 2013/14 ski season. Skier visits at CSCUSA resorts were up by 22 percent during the first period of the 2013/14 season, defined this year as opening day of the season (October...

SAM Magazine—Washington, D.C., Jan. 9, 2014—Snow sports retail sales soared 14 percent in November from year-ago levels as the season began in earnest, the latest data from the SIA RetailTRAK show. The survey is based on point-of-sale data from more than 1,200 snow sports retailers. For the year through November, sales totaled $1.2 b...

SAM Magazine—Park City, Utah, Jan. 7, 2014—Olympic champion Lindsey Vonn will not participate in the upcoming Sochi Olympics due to instability in her surgically repaired right knee, and will undergo another surgery soon so that she has time to recover for the 2015 World Alpine Championships in Vail/Beaver Creek. The decision means V...

SAM Magazine—Beaver Creek, Colo.–Jan. 3, 2014 –Beaver Creek is replacing its primary express quad from the base area with a new high-speed combination chairlift and gondola. The new lift will increase uphill capacity by as much as 35 percent through the use of alternating 10-passenger gondola cabins and six-person chairs. The new ...

SAM Magazine—Grenoble, France, Dec, 30, 2013—Seven-time Formula 1 champion Michael Schumacher is in critical condition in a French hospital with head injuries suffered on Sunday morning while skiing off-piste at Meribel. Update: His condition is slightly improved following a second operation on Monday night that relieved pressure on his...

SAM Magazine—Denver, Dec. 30, 2013—Lodging properties at a sample of Eastern mountain resorts are reporting a 13 percent increase in projected reservations revenue for 2013-14 over last year, according to the most recent data released by Denver-based DestiMetrics. DestiMetrics has been collecting research data in the Eastern U.S. and...

SAM Magazine—Broomfield, Colo., Dec. 30, 2013—After 28 days and 26 resorts in four countries, 10 lifetime Epic Passes were awarded to the winners of the Vail Resorts’ Epic Race to Ski the World. The Epic Race was intended as a season-long quest to ski and ride all 26 resorts spread across 4 countries on the Epic Pass. The reward: ...

SAM Magazine—Bloomington, Minn., Dec. 18, 2013—The Hyland Ski and Snowboard Area is set to upgrade its base lodge and parking areas and thus improve its services to the increasing throngs that visit the hill. The Bloomington City Council approved the $14.2 million expansion of the ski area earlier this week, according to local business ...

SAM Magazine—Denver, Colo. Dec. 16, 2013—Positive snow equity from last winter, good early season snowfall this year, and stronger financial news are combining to drive occupancy and revenues at western mountain destinations to one of their strongest starts in memory, according to the most recent data released by the Denver-based DestiM...

SAM Magazine—North Conway, N.H., Dec. 16, 2013—Cranmore Mountain Resort has unveiled a Master Development Plan at a town Planning Board Meeting here to replace dated ski facilities with a mix of combination service space/residential condominium buildings and residential-only condos. “Mixing new ski facilities with condominiums ...