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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 5, 2012--John J. Frado, Jr., 67, died at home on June 20 in his wife's arms (Cross Country Ski Areas Association President Chris Frado) as a result of complications from a traumatic brain injury incurred in December while building a barn. John was a visionary who enjoyed planning and creating, whether it was a multi-millio...

SAM Magazine—Mammoth Lakes, Calif., July 3, 2012—The town council here voted Monday to file for Chapter 9 bankruptcy protection against a $43 million judgment in state court. The judgment stems from a property development fight involving the local airport and Mammoth Lakes Land Acquisition (MMLA). The judgment is more than twice the ...

SAM Magazine—Jay, Vt., July 3, 2012—Sister resorts Jay Peak and Burke Mountain are introducing combination season passes valid at both areas. Two-mountain access will be available across many of the resorts’ season pass and ticket categories, along with a number of shared special benefits. The new passes go on sale July 9. &ldq...

SAM Magazine—July 3, 2012—The United States Olympic Committee (USOC) decided today that it would not put forth a bid to host the 2022 Winter Olympics, but to instead concentrate on a 2024 summer bid and a 2026 winter bid. Both Denver, Colo., and Lake Tahoe, Calif., had formed task forces to put their names in the hat as possible U.S. ve...

SAM Magazine—McLean, Va., July 2, 2012—Both Snowsports Industries America (SIA) and the National Ski & Snowboard Retailers Association (NSSRA) have declared their support for Learn to Ski and Snowboard Month (LSSM) and challenged their members to get involved, financially and personally. “After coming off one of the toughes...

SAM Magazine—Washington, D.C., June 29, 2012—The U.S. Supreme Court voted 5 to 4 to uphold the health care reforms passed in 2010, commonly known as Obamacare, saying the law was justified under the taxing power of the Federal government. The ruling leaves the law almost entirely intact, and means that companies will have to continue pr...

SAM Magazine—South Lake Tahoe, Calif., June 29, 2012—With an extremely high threat of forest fire at Lake Tahoe, Heavenly Mountain Resort, Northstar California Resort and Kirkwood Mountain Resort have instituted a number of precautionary measures, including banning all smoking on their respective mountains for the summer. “We w...

SAM Magazine—Scranton, Pa., June 27, 2012—Sno Mountain ski resort and Sno Cove water park are in foreclosure and a sheriff's sale is set for July 17, according to the Scranton Times-Tribune. The owners, Sno Mountain LLC, say they are in the process of refinancing the property and hope to complete the process before that time. Nat...

SAM Magazine—Aspen, Colo., June 26, 2012—The Aspen Skiing Co. (ASC) is investing $6 million in a 3MW methane plant that will generate 25 million kW of electricity annually and, in the process, eliminate greenhouse gases equal to three times the company's yearly carbon emissions. In the past, methane emissions from the Somerset, C...

SAM Magazine—June 22, 2012—On the heels of a terrible winter season in California, Rusty Gregory, Mammoth Mountain Ski Area Chairman and CEO, announced yesterday the company will not operate June Mountain this summer and for the upcoming 2012-13 winter season. "June has operated at an annual deficit each year since its purchase ...

SAM Magazine—June 21, 2012—Scott Kaden announced he is stepping down as president of the Pacific Northwest Ski Areas Association (PNSAA) to pursue additional, formal education on a full-time basis. Kaden became the PNSAA's third president in July 2000 and his last day will be September 15, 2012. Under Kaden's leadership, PNSA...

SAM Magazine—June 21, 2012—Winter ain't over until it's over. Mt. Bachelor, Ore., announced that it will open for skiing and snowboarding June 29 through July 1, with intermediate and advanced terrain off the summit, snow and weather conditions permitting. Then, on July 6, the area will officially kick-off its summer activities,...

SAM Magazine—Denver, June 21, 2012—Summer travel is sizzling in western mountain destinations. On-the-books occupancy for the month of June was up 16.2 percent compared to the prior June as of May 31, according to data from the Mountain Travel Research Program (MTRiP). Bookings for the six month period, June through November, are up 17....

SAM Magazine—Hartford, Conn., June 19, 2012—The Connecticut Appellate Court upheld a jury verdict in a case brought against Ski Sundown, Conn., by James Malaguit, who was rendered quadriplegic in a 2006 accident at the ski area. In October 2010, a jury found that the plaintiff was responsible for his own injuries and that the ski area w...

SAM Magazine—June 13, 2012—During its annual meeting, held yesterday at Mount Sunapee, Ski NH released its end-of-season numbers, which were down approximately 21%. New Hampshire hosted 1.9 million skier visits, down from 2.35 million in 2010/11. The state also hosted 96,000 xc visits and 93,000 tubing visits during the 2011/12 season. ...