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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-Park City, Utah, Mar. 16, 2012-The Alpine World Cup finals are still to come, but already USST athletes are primed to conclude one of the most successful seasons in history. The list of accomplishments is quite long: Â Lindsey Vonn won her 16th career Audi FIS World Cup title. She also won her 53rd race, fifth-best all-time am...

SAM Magazine--March 9, 2012--Park City Mountain Resort (PCMR) today filed a lawsuit against Talisker Land Holdings, LLC. The suit seeks to resolve a lease issue. "After extensive and, sadly, unsuccessful negotiations, we reluctantly took the initiative to file this lawsuit," says Jenni Smith, president and general manager of Park City Mountain ...

SAM Magazine-Washington, D.C., Mar. 7, 2012-Learn to Ski and Snowboard Month (LSSM) 2012 taught nearly 100,000 beginner lessons during January, program organizers estimate, up from 75,000 the previous year, despite a widespread lack of snow. To counter the uncooperative weather, many resorts focused attention on their snowmaking expertise to hel...

SAM Magazine-Salt Lake City, Mar. 7, 2012-The Utah legislature has passed a resolution supporting the long-dreamed-of Utah Interconnect, which would link Deer Valley, Park City, Canyons, Alta, Snowbird, Solitude, and Brighton. The resolution passed the Utah State Senate on Mar. 5, 22 to 7, and the House of Representatives on Mar. 6, 58 to 16, large...

SAM Magazine-Broomfield, Colo., Mar. 6, 2012-Vail Resorts (VR) saw its fiscal second-quarter net income drop 15 percent as the mild, low-snow winter kept customers away, especially at its Tahoe resorts. Increased ticket prices and room rates mitigated the drop in visits, or the decline would have been greater. This winter's weather has been espe...

SAM Magazine--Londonderry, Vt--March 6, 2012--One month after selling its 300th share, the threshold needed to begin the skier-owned Magic Partnership LLC at Magic Mountain was met. The ski area finished raising the maximum shares allowed for the investment with 333 shares sold at a price of $3,000 each for a total of $999,000. Much of this capital...

SAM Magazine-Big Sky, Mont., Feb. 24, 2012-For the first time, Big Sky will run the Lone Peak Tram to give guests access to the 11,166-foot peak and its 360-degree views, and offer guided Lone Peak Expeditions, starting in July 2012. The outings will involve riding a chairlift, the tram, and safari vehicle. The Tram has operated winters only since ...

SAM Magazine-Wildwood, Mo., Feb. 24, 2012-Peak Resorts plans to spend $2 million on a variety of improvements at Hidden Valley ski area for the 2012-13 season. Hidden Valley plans to expand skiable terrain by 30 percent, including a new 2,000 foot-long run that will be the resort's longest; blanket the new terrain with snowmaking; and add a quad ch...

SAM Magazine-Middlefield, Conn., Feb. 24, 2012-The town of Middlefield's Board of Selectmen last week approved a $1 million bid to purchase and reopen Powder Ridge ski area in the latest attempt to revive a hill that has been closed since 2007. The bid was made by the owners of nearby Brownstone Exploration & Discovery Park. Brownstone's managin...

SAM Magazine-Broomfield, Colo., Feb. 22, 2012-Vail Resorts will acquire Kirkwood Mountain Resort in a deal expected to close within the next month, making Kirkwood VR's third property in the Tahoe area and seventh overall. Purchase price is approximately $18 million. Vail Resorts is purchasing the ski resort as well as the undeveloped sites at t...

SAM Magazine-Stevens Pass, Wash., Feb. 20, 2012- Three skiers died in an out-of-bounds avalanche on the back side of Stevens Pass Sunday, including Stevens marketing director Chris Rudolph. The others were professional freestyle skiing judge Jim Jack and local John Brenan. A fourth person caught in the slide, pro skier Elyse Saugstad, deployed an a...

SAM Magazine-Denver, Feb. 17, 2012-Recent shifts in storm systems that brought much-needed snow to many western resorts came too late to boost early season destination travel, with hotel occupancy declining 3.7 percent during the month of January, according to the most recent data from the Mountain Travel Research Program (MTRiP). The booking pace ...

SAM Magazine--February 16, 2012--Peak Resorts has announced its plan to build a new 48,000-square-foot main base lodge at Brandywine Ski Resort, Ohio. The new lodge is estimated to be a capital investment of upwards of $5 million that will replace three existing buildings resulting in all skier services being combined in one location. The lodg...

SAM Magazine--February 13, 2012--Two unfortunate incidents took place this past weekend in the ski industry. First, on February 11, three people were injured at Coffee Mill Ski and Snowboard Resort, Minn., when a chair fell from the rope thirty feet to the ground. The ski area was hosting a racing tournament when the accident happened around 1 p.m....

SAM Magazine-San Francisco, Calif., Feb. 9, 2012-Arizona Snowbowl and the U.S. Forest Service gained another court victory today as the U.S. Court of Appeals for the Ninth District affirmed a district court decision upholding the Forest Service's 2005 Record of Decision regarding snowmaking at the Snowbowl, rejecting a suit brought by the Save the ...