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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—Woodbury, Conn., Mar. 22, 2013—With the season winding down, it's time to look ahead and see how you can stay on top of your game for next year in the ever-changing world of freestyle terrain. Registration for SAM’s eastern Cutter's Camp at Mount Snow (Carinthia), Vt., closes on March 26 at 5 p.m., and there a...

SAM Magazine--March 21. 2013--According to the Star Gazette, a federal judge has approved the sale of Greek Peak, N.Y., after a private auction on Tuesday. The highest bid was $6.76 million by two local businessmen, John Meier and Marc Stemerman. The Federal Deposit Insurance Corporation (FDIC), which became the main lender and receiver after the s...

SAM Magazine--March 18, 2013--Wisp Resort in Maryland announced the promotion of industry (and Wisp) veteran Jerry Geisler to GM today. Geisler has worked at Wisp Resort for 37 years beginning as a ski instructor in 1975. Geisler replaces Tim Prather. Wisp emerged from bankruptcy in December 2012 under new ownership—EPR Properties, a REIT ...

SAM Magazine—Enfield, N.H., Mar. 15, 2013—Whaleback Mountain is shutting its doors for the year, and as a business, on Mar. 17. Owners Evan Dybvig, Frank Sparrow, and Dylan Goodspeed posted a message on their website Thursday that the mountain would be ceasing operations at the end of the coming weekend. In their letter, they said th...

SAM Magazine--March 15, 2013--More consistent snowfall and stronger economic metrics combined to deliver impressive gains for the mountain lodging industry according to the most recent data released by the Mountain Travel Research Program (MTRiP). Actual occupancy for February 2013 was up 14.2 percent compared to last February and the Average Daily...

SAM Magazine—Lakewood, Colo., Mar. 13, 2013—More than 153,000 children and adults from 34 states registered for beginner lessons during January 2013 as part of Learn to Ski and Snowboard Month/Bring a Friend (LSSM/BAF)—an increase of more than 50,000 compared to 2012, and an increase of more than 130,000 since the initiative&rsquo...

SAM Magazine—Salida, Colo., Mar. 13, 2013—Monarch Mountain is teaming with fellow Colorado resorts Copper Mountain, Winter Park, and Steamboat in a reciprocal pass deal for 2013-14. For 2013-14, three days at Monarch are included in the purchase of the Rocky Mountain Super Pass Plus ($419), which includes unlimited skiing at Winter P...

SAM Magazine—Missoula, Mont., Mar. 12, 2013—Tom Maclay, who has long sought to develop a destination resort at Lolo Peak in the Bitterroot Mountains, has lost control of his property to Met Life Agricultural Investments through foreclosure. Missoula County Sheriff Carl Ibsen signed a sheriff’s deed over to Met Life on Feb. 27, ...

SAM Magazine—March 12, 2013—Today several joint pass promotions were released giving skiers and snowboarders more options than ever. First up, The Mountain Collective added three resorts to its 2013/14 offering: Mammoth Mountain, Snowbird and Whistler/Blackcomb. The Collective was created last year when Alta, Aspen/Snowmass, Squaw Valle...

SAM Magazine—Lakewood, Colo., Mar. 12, 2013—SlopeXchange.com, which aimed to help skiers and riders re-sell their day lift tickets in resort parking lots, came to a swift end after NSAA threatened to sue the site. Early this year, slopexchange.com hit the Internet with what its founders thought was a clever idea: help skiers and ride...

SAM Magazine—Bartlett, N.H., Mar. 8, 2013—According to an on-line survey conducted by SAM Magazine, 33% of respondents say that summer opportunities will be the most important factor in the future growth of mountain resorts. To address this growing trend, SAM Magazine will hold its fourth annual Summer Ops Camp at Attitash, N.H., S...

SAM Magazine—Virgil, N.Y., Mar. 8, 2013—Greek Peak is scheduled to be sold at auction in Syracuse, N.Y., on Mar. 19, either in its entirety or in various lots. The resort includes the winter resort as well as a year-round adventure center, hotel and indoor waterpark. Bidders have until Mar. 14 to submit initial offers. Judge Margaret...

SAM Magazine—McLean, Va., Mar. 7, 2013—Snowfall over the December holidays and into January helped raise snowsport retail sales 7 percent in January 2013 compared to January 2012. The latest data come from the SIA RetailTRAK, compiled by the Leisure Trends Group. Customers spent $550 million at snowsports retail shops in January. ...

SAM Magazine--March 7, 2013--Vail Resorts, Inc. announced its second quarter results of fiscal 2013 ended January 31, 2013. Total net revenue of the mountain, lodging and real estate categories was $422.5 million compared to $373.3 million during the same period last year while total operating expenses went from $255.1 million in 2012 to $282.5 mil...

SAM Magazine--March 5, 2013--According to published reports, Sunrise Park Resort in Arizona is being investigated for the Norovirus, a very contagious virus. The area has been cooperating with federal, state, county and tribal agencies (the area is owned by the White Mountain Apache Tribe) after several customers became ill after visiting over the ...