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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--August 31, 2012--This past Wednesday, Arapahoe Basin, Colo., introduced a long-term master development plan, kicking off what will likely be a years-long process. The plan includes an expansion of 412 acres into The Beavers, a new lift to access the terrain, a year-round zipline, increased capacity for its snowmaking reservoirs and se...

SAM Magazine--August 31, 2012--After years of court battles that finally ended in a green light for Arizona Snowbowl's comprehensive snowmaking system, the last remaining legal battle seems to have come to an end. According to the Arizona Daily Sun, an earlier court decision that would have made opposing attorney Howard Shanker responsible for ...

SAM Magazine--August 29, 2012--Park City, Utah--The U.S. Ski Team and NBC Sports Network will partner for first-ever U.S. live TV broadcasts of Audi FIS Alpine World Cup ski racing as part of a pre-Sochi broadcast schedule announced by the network and the U.S. Ski and Snowboard Association. The live coverage will feature Olympic champions Lindsey V...

SAM Magazine—Tannersville, Pa., Aug. 29, 2012—With five days left in the summer business high season, Camelbeach Mountain Waterpark has exceeded 366,000 visits, surpassing last summer’s previous record of 365,000 visits. A member of the Gober family from Easton, Pa., was visitor number 366,000, and received season passes for all i...

SAM Magazine—Idaho Springs, Colo., Aug. 29, 2012— Pykkonen Capital LLC has purchased Echo Mountain, and will convert the area into an alpine race training facility serving Denver-area competitors. The transformation of Echo Mountain into the Front Range Ski Club will begin in the coming weeks and involve the entire property. Nora Pykko...

SAM Magazine—Greenwood, Maine, Aug. 27, 2012—Mt. Abram and the Mountain Rider’s Alliance (MRA) have partnered to promote a cooperative business model and convert Mt. Abram into a member-owned MRA Mountain Playground. The joint effort aims to boost regional visitation, increase sustainability awareness, and create a business model ...

SAM Magazine--August 27, 2012--ESPN, the creator of the popular X Games series in both summer and winter, has made the decision to cut skier and snowboarder cross events for the coming year in Aspen, as well as the mono skier X. The X Games are largely credited with popularizing the events, in fact, they will still be held at the 2014 Olympics in S...

SAM Magazine--Pittsfield, MA--August 24, 2012--George W. Jervas died suddenly on August 20, at the age of 76, doing what he loved most: working at his ski area. Jervas, the owner of the Berkshire resort for over 30 years, reportedly suffered a cardiac arrthymia. Jervas originally bought the ski area as part of a four-member group, but has been the ...

SAM Magazine—Woodbury, Conn., Aug. 22, 2012—Registration for SAM’s third annual Summer Ops Camp—a series of seminars, workshops, and site visits that explore the state of the art in summer operations—closes on Aug. 27. A few spots are still available for the camp, which takes place Sept. 4 to 6 at Canyons, Utah. The...

SAM Magazine—Breckenridge, Colo., Aug. 22, 2012—Breckenridge received approval to add 550 acres of skiing and riding on Peak 6, thanks to a Record of Decision from the Forest Service which was made public yesterday. The terrain includes approximately 140 hike-to acres. White River National Forest Supervisor Scott Fitzwilliams’ dec...

SAM Magazine—Middlefield, Conn., Aug. 17, 2012—Middlefield residents overwhelmingly voted to sell the Powder Ridge ski area to local businessman Sean Hayes, who operates a nearby adventure center, Brownstone Park, for $700,000. Powder Ridge opened in 1959, and last operated for the 2006-07 season. The town purchased the area in 2008 ...

SAM Magazine—Denver, Aug. 16, 2012—Average occupancy for the month of July in 16 Western destination resorts was up 4. 7 percent compared to July 2011, with the average daily rate up 4.5 percent for the same time period, according to the Mountain Travel Research Program (MTRiP). The data suggest that many mountain resorts have establish...

SAM Magazine--August 14, 2012--Alta, Aspen/Snowmass, Jackson Hole and Squaw Valley/Alpine Meadows have partnered to form the Mountain Collective, a pass for the 2012-13 season. The Mountain Collective Pass goes on sale today and is available online through an exclusive technology, distribution and marketing partnership with Liftopia at www.TheMount...

SAM Magazine--August 9, 2012--According to the Modesto Bee, a coalition of environmental groups will get together to buy the almost 3,000-acre Royal Gorge Cross Country Ski Resort in California. Royal Gorge was put on the block after the area defaulted on its $16.7 million loan in June 2011. After spending the last year in receivership, Douglas Wil...

SAM Magazine—Telluride, Colo., Aug. 8, 2012—Dave Riley, CEO of Telluride Ski & Golf Resort for the past five years, has been reassigned to CEO of Newport Federal Financial, a subsidiary of Telluride’s parent company in Newport Beach, Calif. Riley starts his new job immediately. No replacement has been named at Telluride, where...