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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-Amherst, Va., Feb. 8, 2012-Wintergreen Resort is cutting expenses, collecting 2013 membership dues early, and asking its 1,800 members for a $6 million cash infusion to help the resort meet financial challenges stemming from this winter's warm weather and below-average snow, according to several news sources. Wintergreen Partners In...

SAM Magazine--February 3, 2012--Last night, February 2, the Cache County Planning Commission granted a conditional use permit for the proposed Cherry Creek ski area in northern Utah. The proposal for the new ski area includes 203 acres of terrain, base area and mid-mountain facilities, four lifts, a terrain park, a zipline, three water storage ...

SAM Magazine--February 3, 2012--Peak Resorts, the parent company of Crotched Mountain, N.H., announced the acquisition of the high speed detachable quad at Ascutney Mountain, which has closed its doors. Crotched will install the 5,000+-foot lift this coming summer. The Garaventa CTEC lift will replace a fixed grip lift and access an additional 2...

SAM Magazine--January 28, 2012--Yesterday marked the start of the 2011-12 winter season for Utah's newest ski resort Eagle Point. The opening signifies that every Utah ski and snowboard resort is open for the season. A fresh blanket of snow during the past 24 hours added two to eight inches to resort snow totals. This snowfall, in addition to the p...

SAM Magazine-Denver, Jan. 25, 2012-The meeting of the terrain park task force of the American Society for Testing and Materials (ASTM) F27 Snow Skiing Committee at the Denver Convention Center yesterday failed to produce the anticipated fireworks. There was general agreement that most of the variables in terrain park jumps are user-generated, and t...

SAM Magazine--January 25, 2012--After filing for bankruptcy two years ago, the assets of Moonlight Basin, Mont., were sold last week to the estate of Lehman Brothers Holdings Inc. According to the Wall Street Journal, Lehman began lending to Moonlight in 2007 under a $100 million credit agreement between the area and the Lehman Brothers Commercial ...

SAM Magazine-Denver, Jan. 24, 2012-What a difference a week makes. Winter returned across most of the U.S. in the past seven days, bringing several feet of snow to the snow-starved Lake Tahoe areas and padding snow depths across the Rockies. Eastern areas also received fresh snow, adding to base depths there as well. Clearing the decks at Mt. Ro...

From January 17-19, ski areas and suppliers alike descended on Squaw Valley, Calif., for the NSAA Western Conference and Trade Show. Understandably, the number of attendees was off by about 150 over previous years, but that didn't stop those who did attend from taking part in informative sessions and a little trade show shopping. Sixty-two resorts ...

SAM Magazine--January 20, 2012--Colorado Ski Country USA's (CSCUSA) 22 member resorts reported a decrease in skier visitation for the beginning of the 2011/12 ski season. Skier visits at CSCUSA resorts were off by 10.65 percent during the first period of the ski season, defined as opening day of the season through December 31, 2011, compared to the...

SAM Magazine-Woodbury, Conn., Jan. 18, 2012-Terrain parks have come a long way over the past decade and Cutter's Camp has been at the forefront of this movement by creating a program where best practices are shared, technology discussed, and ideas exchanged. But freestyle terrain is ever-changing and improving, so we still have much to discuss. To ...

SAM Magazine-Boulder, Colo., Jan. 13, 2012-Unseasonably warm and dry weather cooled off snowsport retail sales in November, and more broadly, curbed sales of overall outdoor products in December. Preliminary Outdoor RetailTRAK data from Leisure Trends Group indicate that outdoor retail sales declined a little more than 2 percent from December 2010....

SAM Magazine--January 11, 2012--SIA and SAM Magazine are partnering again at the upcoming SIA Snow Show in Denver, Colorado, January 26-29, 2012, to deliver a comprehensive program for rental buyers and suppliers. The Backshop + Rental + Uniform exhibit will provide a close-up look at the latest rental equipment and backshop innovations. Additi...

SAM Magazine-Denver, Jan. 11, 2012-With a below-average snow year leaving many areas short of their usual snow coverage and trail count, resorts are taking a variety of measures to lure customers-mostly by offering a variety of package deals and ticket discounts. And some of those areas blessed with good snow are seeking to profit from the snow ...

SAM CAM checked out Jay Peak's impressive new indoor water park in December. From aqua loops to lazy rivers, Jay has officially entered a whole new world in guest options. And the grand opening couldn't have been more timely-despite a slow start to the season, Jay Peak has been at peak capacity since opening. Move over snow, water has come to town!...

SAM Magazine--January 10, 2012--The National Ski Areas Association (NSAA) filed a lawsuit in Federal court in the district of Colorado today against the U.S.D.A. Forest Service (USFS) to challenge a new water rights clause that results in "an unconstitutional taking of property." At issue is a new water rights clause enacted by the USFS late las...