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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--July 25, 2013--Alpine Mountain Ski and Snowtubing, located in the Poconos in Pennsylvania, will be sold by competitive sealed bid in September. According to the Pocono Record, Alpine was bought two years ago by Appletree Management, which managed the ski area for three years prior. Appletree management stated that it wanted to get bac...

SAM Magazine--July 19, 2013--The following is a letter Laszlo Vajtay, owner of Plattekill Mountain in Roxbury, N.Y., wrote to the Department of Environmental Conservation in opposition of the proposed expansion at neighboring Belleayre Mountain. For more on the story, check out yesterday's headline news story at http://www.saminfo.com/news/neig...

SAM Magazine—Rumford, Maine, July 19, 2013—Ownership of Black Mountain Ski Resort has been transferred from the Maine Winter Sports Center, which has owned the area since 2003, to the resort’s volunteer board of directors, effective Monday. The resort remains a non-profit, but will no longer enjoy the financial support of the Libr...

SAM Magazine—Wrightwood, Calif., July 18, 2013—In response to the development of other multi-area pass deals, a dozen Western resorts have created the Powder Alliance and are offering free lift access to “anytime” passholders from member resorts. The areas are Crested Butte, Colo.; Snowbasin Resort, Utah; Sierra-at-Tahoe, Ch...

SAM Magazine--July 18, 2013--A proposed $74 million expansion of Belleayre Mountain Ski Center, in Ulster County, N.Y., is being opposed by neighboring Greene County lawmakers. In a letter to the State Department of Environmental Conservation, the Greene County legislature claims that using taxpayer dollars for the expansion of the state-owned ski ...

SAM Magazine—Stockholm, Sweden, July 15, 2013—Private equity group Altor is acquiring a majority stake in Rossignol Group from the current owners, Australian bank Macquarie (77 percent) and U.S. sporting goods conglomerate Jarden (17 percent), which also owns K2, Marker, Volkl, and several other brands. The deal values Rossignol at $196...

SAM Magazine—Denver, July 15, 2013—Hot temperatures throughout the western U.S. and increased summer programming have led to growing summer lodging occupancy, according to DestiMetrics (formerly the Mountain Travel Research Program). The June occupancy rate rose 3.9 percent compared to a year ago, and revenue increased by 9.9 percent. P...

SAM Magazine--July 16, 2013--According to published reports, a planned public auction at Tamarack Ski and Golf Resort in Idaho has been postponed for at least two months. The primary lender, Credit Suisse, had planned to auction off building materials and other furnishings today, July 15, and the county sheriff's office was going to sell off th...

SAM Magazine—Missoula, Mont., July 9, 2013—The U.S. Forest Service is considering would-be developer Tom Maclay’s latest proposal to build a destination ski resort on the Bitterroot and Lolo national forests. The Forest Service agreed to a first-stage screening on June 26, and has 60 days to determine if the proposal meets the age...

SAM Magazine—Detroit Lakes, Minn., July 9, 2013—Detroit Mountain Recreation Area supporters plan to initiate a fundraising effort this week to restore the town’s defunct ski area and turn it into a four-season activity center. The area last operated in 2004. Local businessmen formed the non-profit DMRA in 2010. The group conduc...

SAM Magazine—Rumford, Maine, June 27, 2013—The Maine Winter Sports Center (MWSC) will close the Black Mountain ski area here after the town voted to not fund the resort as a recreational resource. More than 3,000 miles to the northwest, at Mt. Sima in Whitehorse, Yukon, a similar story is playing out. In Maine, Andy Shepard, presiden...

SAM Magazine—Park City, Utah, June 26, 2013—Vail Resorts (VR) has laid off 42 full-time employees at Canyons, many of them at the department manager level or higher, as it consolidates staff at Canyons Resort here. VR signed a lease agreement to manage Canyons just a month ago. In a prepared statement, VR spokeswoman Kelly Ladyga sai...

SAM Magazine—Queensbury, N.Y., June 25, 2013—West Mountain owner East Slope Holdings LP (ESH) filed for bankruptcy protection last week. The move could facilitate a change in ownership to Apex Capital LLC, owned by local stockbroker and ESH staff member Spencer Montgomery. East Slope Holdings sought Chapter 11 protection in federal B...

SAM Magazine—Big Bear Lake, Calif., June 20, 2013—The Snow Summit Ski Corporation board of directors has retained Houlihan Lokey (HL), an international investment banking firm, to market the company, with the possibility of selling it to one of a number of interested buyers. HL will be contacting various potential buyers as part of this...

SAM Magazine--June 20, 2013--Rusty Gregory, the CEO and chairman of Mammoth Mountain, Calif., announced a new leadership team today. The leadership change is effective immediately as the resort hopes to better align the organization to execute key strategies aimed at improving guest experience, communicating the brand and growing visitation to Mamm...