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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—Denver, June 11, 2012—Several water districts and the Colorado petroleum industry have filed amicus briefs to support a lawsuit in the U.S. District Court of Colorado against a 2011 Forest Service regulation requiring winter resorts to grant certain water rights to the Service. The original lawsuit, filed by the National...

SAM Magazine--June 11, 2012--According to NZCity, more than 6,000 skiers and snowboarders flocked to Queenstown's Coronet Peak and Canterbury's Mt Hutt—a record-breaking opening weekend in the South Island. NZ Ski CEO James Coddington says they've never had more than 3,000 people through for opening weekend at Mt Hutt before. ...

SAM Magazine—June 11, 2012—According to published reports, a massive wildfire in New Mexico has damaged ski lifts at Ski Apache. The area fought the blaze, which has burned more than 35,000 acres in the Lincoln National Forest, with its own snowmaking equipment, setting up guns around its base lodge to ward off the flames. That effort, ...

SAM Magazine—Evergreen, Colo., June 8, 2012—Echo Mountain Ski resort will be sold via a sealed-bid auction, with bids due by August 2. Racebrook and its auction affiliate, Sheldon Good & Company, are conducting the sale. Echo, 35 miles west of downtown Denver, is situated entirely on private land. Owner Gerald Petitt paid $800,00...

SAM Magazine—Kelowna, B.C., June 6, 2012—Big White and Silver Star resorts, which had been under a single ownership for a decade, have split apart following the death of former owner Desmond Robert Schumann in April. Schumann, who bought Big White in 1985 and Silver Star Mountain Resort in 2001, is widely credited with making both re...

SAM Magazine—June 6, 2012—Valle Nevado, Chile, and Mammoth Mountain, Calif., are pleased to announce a new sister resort partnership effective May 2012. Valle Nevado, located 90 minutes from Santiago, and Mammoth Mountain, located in Central California, are two of the largest and most popular resorts in their respective countries, and a...

SAM Magazine—June 6, 2012—The Vermont Ski Areas Association (VSAA) announced that Vermont ski resorts recorded 3,903,171 skier and rider visits, just 5% off of the ten-year average and 11% off of 2010/11, which logged 4,365,906 visits. Despite low natural snowfall during the 2011-12 ski season, snowmaking and grooming enabled Vermont...

SAM Magazine—June 6, 2012—Colorado Ski Country USA (CSCUSA) announced today that its 22 member resorts hosted 6.16 million visits, an 11.4% decline from last year. Vail Resorts, which is not a member of CSCUSA, reported a 9.8% decrease in visits at all of its resorts, including those in California. With Vail's Colorado resorts talli...

SAM Magazine—June 5, 2012—The Utah ski and snowboard industry announced 3,802,536 million skier day visits during the 2011-12 winter season, down 10 percent from the previous season’s 4,223,064. Low snow totals plaguing resorts nationwide and the persistence of a wavering economy are credited for the decrease at Utah ski and snowb...

SAM Magazine—Boise, Idaho, June 5, 2012—Bank of America has acted on its threat to remove the Wildwood Express chair lift at bankrupt Tamarack Resort. The bank has hired Highlander Ski Lift Services & Construction of nearby McCall to dismantle and remove the lift, and much of the work has already been completed. According to Paul...

SAM Magazine—Charleston, W. Va., May 30, 2012—Jim Justice, owner of The Greenbrier resort in White Sulphur Springs, has agreed to purchase Wintergreen Resort. The Wintergreen Partners' board of directors approved the merger agreement last Friday. If, as expected, the Class A Equity members of Wintergreen also approve the deal at a m...

SAM Magazine—May 30, 2012—NASTAR, the largest public grassroots ski race program in the world, announced a new partnership with Aspen/Snowmass, Colo., to serve as the host resort for the 2013 and 2014 Nature Valley NASTAR National Championships. Skiers from approximately 45 states, ranging in age from three to 90, will compete at the re...

SAM Magazine—May 24, 2012—QBurke Mountain Resorts, LLC, a company headed by businessman Ariel Quiros has acquired Burke Mountain Resort, Vt. Quiros, along with Bill Stenger, president and co-owner of Jay Peak Resort, Vt., purchased the Jay Peak Resort from Mont Saint-Sauveur Valley resorts in June 2008. The ownership of QBurke Mou...

SAM Magazine—Denver, May 24, 2012—The U.S. Forest Service, responding to the NSAA lawsuit regarding water rights, claimed last month that the Forest Service has the legal right to attach restrictions to the water rights included in ski area permits. The issue will eventually be settled in the courts, with NSAA due to file its legal brie...

SAM Magazine—Denver, May 18, 2012—Despite a 15 percent decline in skier visits in the 2011-12 season, lodging properties at 16 western mountain destinations experienced only a 2.8 percent decrease in actual occupancy for the season, according to the most recent data distributed by the Mountain Travel Research Program (MTRiP). The averag...