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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—Broomfield, Colo., Sept. 26, 2012—Vail Resorts reported net income of $16.5 million in fiscal 2012, down from $34.5 million in 2011. But in a sign that last season’s snow drought has not dampened customer expectations, season pass sales for the upcoming season rose 17 percent in units, to about 178,000, and 21 percent...

SAM Magazine—Park City, Utah, Sept. 24, 2012—Powdr Corp. has promoted three key personnel within the company. COO Herwig Demschar is now senior vice president of international business development. Killington Resort and Pico Mountain president and general manager Chris Nyberg gets wider responsibilities as president and chief operating ...

updated Sept. 25, 2012 SAM Magazine—McHenry, Md., Sept. 25, 2012—The owners of Wisp Ski Resort continue to negotiate to sell the resort to a well capitalized buyer that will ensure uninterrupted and improved operations for the upcoming ski season and beyond. In a statement Monday, co-owner Karen Myers said, “We fully expect to...

SAM Magazine—Broomfield, Colo., Sept. 24, 2012—Vail Resorts (VR) is seeking dismissal of a wrongful death lawsuit stemming from an inbounds avalanche at Vail Mountain last winter, claiming that the avalanche is one of the inherent risks covered by the Colorado Ski Safety Act. The suit was brought by the parents of Taft Conlin, who di...

SAM Magazine—Montpelier, Vt., Sept. 21, 2012—The state of Vermont and four Vermont ski areas are partnering with Porter Airlines to bring Canadian skiers to northern Vermont. Porter operates roundtrip flights between Toronto and Burlington. Vermont Ski Areas Association president Parker Riehle said that about 2,000 people flew the To...

SAM Magazine—Denver, Sept.18, 2012—Summer occupancy at 16 western mountain resort destinations was higher than the previous two years, with increases in both occupancy and nightly revenue, according to the Mountain Travel Research Program (MTRiP). August marked the fourth straight month of year-over-year occupancy increases. Early indic...

SAM Magazine—ASPEN, Colo., Sept. 14, 2012—A lawsuit by an environmental group has led Aspen Skiing Co. [ASC] to temporarily halt its efforts to add skiing on 230 acres of Burnt Mountain at Snowmass, according to an article in the Aspen Times. The Ark Initiative filed a suit last week, arguing that the U.S. Forest Service improperly g...

SAM Magazine—Boulder, Colo., Sept. 14, 2012—Winter sports retailers reduced preseason orders sharply last spring but remain optimistic about the upcoming season, results of a new retail survey conducted by Leisure Trends Group reveal. And early indicators show surprising strength. Drawn from a sample of 44 responses among outdoor and...

SAM Magazine—Jackson, Wyo., Sept. 10, 2012—The Little Horsethief Fire south of Jackson has burned at least 1,500 acres, prompting Snow King resort to close its summer operations, including the bike and hiking trails, lifts, and alpine slide. The Jackson Hole resort is not impacted by the blaze, and all highways in and out of Jackson rem...

SAM Magazine—Missoula, Mont., Sept. 10, 2012—The U.S. Forest Service has rejected a proposal by would-be resort developer Tom Maclay to build a destination ski resort on Lolo Peak. This is the second time Maclay has presented a resort proposal, and the second time the Forest Service has rejected it. As with his earlier plan, the Fore...

SAM Magazine—Broomfield, Colo., Sept. 10, 2012—Vail Resorts (VR) has partnered with Verbier, Switzerland, to provide Epic Passholders three days of free access to Verbier and the other members of Les 4 Vallées, Nendaz, Veysonnaz and Thyon. The four comprise the largest ski area in Switzerland. The upshot is that VR’s $67...

SAM Magazine—Broomfield, Colo., Sept. 2, 2012—The introduction of Vail Resorts’ (VR) EpicMix Racing gives skiers a chance to see how they stack up against Lindsey Vonn, thanks to a new NASTAR-like addition to VR’s acclaimed EpicMix social media program. The incorporation of EpicMix Racing has led VR to drop the 44-year-old N...

SAM Magazine—Aspen, Colo., Sept. 2, 2012—Snowmass is adding 230 acres of rolling, low-angle meadows and glades on Burnt Mountain this season, bringing total skiable acreage to 3,362 acres. This will make Snowmass the second largest ski area in Colorado, after Vail. "This is a powder skier’s dream," said Steve Sewell, ...

SAM Magazine—Taos, N.M., Sept. 2, 2012—The acting supervisor of the Carson National Forest in northern New Mexico has signed the Record of Decision for Taos Ski Valley’s Phase I projects in the Ski Area’s 2010 Master Development Plan. That includes two new lifts to access high alpine terrain and upgrades to existing lifts. ...

SAM Magazine—Irwindale, Calif., Sept. 2, 2012—Start-up company Energy Cache is exploring the use of specially equipped “ski lifts” to create a large-scale energy storage system. The aim is to use solar and/or wind power to drive the lift and transport gravel uphill, where it would be stored in giant hoppers. Then, the lift w...