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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—Washington, D.C., Oct. 11, 2013—The 2013 Women's Snow Sports Market Intelligence Report reveals that 3.3 million women participated in snowsports last season, and made $1 billion in purchases of women-specific gear during the 2012-13 season. The report, a supplement to the full Market Intelligence Report produced by Sno...

SAM Magazine--Tannersville, Pa., October 10, 2013--Spirit Realty Capital, Inc., the real estate investment trust (REIT) that owned Camelback Mountain Resort, announced that it has sold Camelback Mountain Resort for $69.25 million, representing a "significant gain on its original investment," says the press release. The REIT bought the are...

SAM Magazine--October 8, 2013--In a survey released last week by PhoCusWright, a New York based travel industry research group, and sponsored by Mountain Travel Symposium (MTS), the current data available on the travel behavior of skiers and snowboarders revealed new information about these specific destination travelers. Here are some highlight...

SAM Magazine--Los Angeles, Calif., October 3, 2013--ESPN issued the following statement today: ESPN today announced it will not continue with X Games events in Barcelona, Munich, Foz do Iguaçu, Brazil and Tignes, France. We are proud to have run world-class competitions for both the athletes and spectators; however the overall economics of t...

SAM Magazine--October 3, 2013--In a clever move, Arizona Snowbowl and Aspen/Snowmass are spinning lifts for tourists who are shut out of national parks. Thanks to the government shutdown, national parks are closed across the country, so the ski areas decided to offer alternatives for tourists. Arizona Snowbowl is extending its scenic chairlift oper...

SAM Magazine—Copper Mountain, Colo., Oct. 2, 2013—The Forest Service has approved Copper’s high alpine project, The 12’s, a multi-year enhancement of the resort’s high alpine skiing and riding. The 12’s encompass three peaks with elevations in excess of 12,000 feet: Tucker Mountain, Union Peak and Copper Peak. Th...

SAM Magazine--Vernon, N.J., October 2, 2013--UPDATE: After announcing an auction for October 1, Hidden Valley remains unsold after no-one bid on the resort. According to The Star-Ledger, bidding was expected to start at $2.75 million (an amount that would cover debts and fees). The auction house is still hopeful that someone will make an offer. In ...

SAM Magazine--Greenwood, Maine, October 1, 2013--Building on an existing partnership, Mt. Abram, Maine, has hired Mountain Rider’s Alliance (MRA) to manage the ski area. MRA is a grassroots organization whose mission is to create sustainable mountain playgrounds. Led by GM Dave Scanlan, MRA personnel will fill other key positions of Mt Abram&...

Loveland, CO SAM Magazine—Denver, Oct. 1, 2013—Colorado resorts have begun snowmaking operations for the 2013-14 season. Loveland Basin cranked up its guns at 6 p.m. on Sept. 27, and Arapahoe Basin followed five hours later. Copper Mountain began early today. This year’s start was about a week ahead of last year. While warme...

SAM Magazine—Broomfield, Colo., Sept. 27, 2013—Vail Resorts (VR) rebounded nicely in 2012-13 from a very poor 2011-12 season, and early indicators, such as pass sales, suggest the coming winter will be strong. That’s the big picture presented by VR’s year-end financial report, released today. For the year ended July 31, t...

SAM Magazine--Covington Township, Pa., September 26, 2013--The following is a statement released by The Renaissance Auction Group: "We are pleased to announce that the high bid submitted at the Sealed Bid auction for Alpine Mountain Ski Area was accepted by the sellers. "The successful bidder is a local investor who plans to continue o...

SAM Magazine—Missoula, Mont., Sept. 25, 2013—The Bitterroot and Lolo national forests have, for the third time, rejected Tom Maclay’s proposal for a ski resort on the national forest above his family’s former ranch. “Based on review of your proposal, we have concluded that your proposal is not consistent with all of...
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SAM Magazine—Aspen, Colo., September 24, 2013—Summer gave way to snow on the first few days of fall across parts of the West. From Colorado to California and Oregon, resorts reported the first significant snow of the season. It was significant enough at Silverton, Colo., where two to three feet of snow fell, that a few patrollers rode t...

SAM Magazine—Ludlow, Vt., Sept. 24, 2013—The state of Vermont has given the go-ahead to a $200 million development at Okemo Mountain. The development will be led by Timber Creek at Okemo, a private investment group, but it will connect to the existing resort. Okemo will operate the development’s two planned lifts and snowmaking on...

SAM Magazine—West Dover, Vermont, Sept. 24, 2013—New England areas are competing hard for core customers, especially college-age and post-college skiers and riders. In Vermont, sometime rivals Mount Snow and Stratton have formed a new partnership that offers 18- to 26-year-old skiers and snowboarders an unrestricted Double Down Pass ...