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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--According to published reports, a federal lawsuit was filed late last week against Homewood Mountain Resort, Calif., by The Sierra Club and Friends of the West Shore. The suit was filed against the Tahoe Regional Planning Agency (TRPA) and Placer County for approving, in their words, "an ill-conceived, inadequately studied, and enviro...

SAM Magazine--January 9, 2012--Oak Mountain Ski Area in the Adirondacks is for sale. The 230-acre area, which is owned by the Hamilton County Industrial Development Agency (IDA), has a 650-foot vertical drop, 14 trails serviced by a CTEC quad and two T-Bars, a base lodge, tubing facilities, and 50 percent snowmaking coverage. Oak Mountain is also h...

SAM Magazine--January 4, 2012--The operators for the past two years of Swain Resort, N.Y., have announced the purchase of the area, completing a lease-to-own agreement that was reached in August 2009 with the owners of Swain Recreation Center, LLC. The purchase was made by Denton Hill Family and Ski Resort Inc. whose officers are Scott and Jodi...

SAM Magazine-Slinger, Wisc., Jan. 1, 2011: After months of negotiation, Schmitz Brothers, LLC has purchased Little Switzerland Ski Area from Wayne Erickson. Schmitz Brothers consists of veteran resort owner/manager Rick Schmitz and two siblings, all of whom grew up skiing at Little Switzerland. They plan to invest heavily and open for the 2012-13 s...

SAM Magazine-Red Lodge, Mont., Dec. 29, 2011-A chair on the Willow Creek chairlift detached from the cable and fell to the ground at Red Lodge Mountain Resort yesterday afternoon. Two guests riding the chairlift at the time were injured and taken off the mountain. The chairlift was safely unloaded and shut down. The chairlift will remain closed unt...

SAM Magazine-Golden, B.C., Dec. 29, 2011-Resorts of the Canadian Rockies (RCR) has completed its purchase of Kicking Horse Mountain Resort, buying the area from Ballast Nedam, the initial owner and developer. RCR is one of the largest private ski resort owner/operators in North America. The two companies first revealed they were in negotiations reg...

SAM Magazine--December 26, 2011--Peak Resorts Inc. has purchased Jack Frost Mountain and Big Boulder Ski Area from Blue Ridge Real Estate Company. Peak Resorts has leased and managed the ski resorts since 2005, the contract has a purchase price of 9 million dollars for the two resorts. Peak Resorts operates 12 ski areas through the Midwestern, N...

SAM Magazine--December 17, 2011--Calgary-based, Resorts of the Canadian Rockies have entered into discussions to potentially acquire Kicking Horse Mountain Resort, based in Golden, B.C. Subject to certain regulatory approvals, the transaction is expected to be completed by the end of this year. Kicking Horse Mountain Resort is the first, four-se...

SAM Magazine--December 16, 2011--Homewood Mountain Resort, Calif., got approval of its redevelopment plan by the Tahoe Regional Planning Agency (TRPA) on December 14. Homewood, which is owned by JMA Ventures, a minority investor in Alpine Meadows and Squaw Valley, will undergo a transformation to an "upscale boutique resort" with a five-star hotel,...

SAM Magazine-Denver, Dec. 11, 2011-A first-ever winter concert, Winter on the Rocks, will add a new wrinkle to the SIA Snow Show in Denver Jan. 27. Hip-hop dynamo Atmosphere headlines the event, along with actor-rapper Common, Grieves & Budo and Get Cryphy. Local boutique ski manufacturer Icelantic helped bring the show to fruition, along with its ...

SAM Magazine-Los Angeles, Dec. 11, 2011-The L.A. Ski Dazzle wrapped up a successful season for the nation's consumer ski and snowboard shows. The event drew 90,000 Dec. 1-4. Once La Nina kicks in and starts to deliver snow and colder temperatures across the U.S., resorts, too, should see evidence of pent-up demand. The Ski Dazzle was "above aver...

SAM Magazine--December 8, 2011--Nova Scotia's government plans to pass legislation introduced on December 6 that would require all skiers and snowboarders to wear helmets. The proposed law, which would not go into effect until next season, would fine individuals CDN$250 each time they are caught without protective headgear. The bill would requir...

SAM Magazine--December 8, 2012--Peak Resorts, Inc., announced that it has postponed its Initial Public Offering that was expected to price and close this week, due to volatile market conditions. Peak Resorts owns and manages 12 resorts in the East and Midwest. A registration statement relating to these securities has been filed with the Securiti...

SAM Magazine-Lakewood, Colo., Dec. 6, 2011-Several new product suppliers and a growing list of organizations are backing Learn to Ski and Snowboard Month (LSSM) this January. The support broadens the program's outreach to newcomers and adds to the promotional possibilities. LSSM executive director Mary Jo Tarallo anticipates that this growing suppo...

SAM Magazine-McLean, Va., Dec. 6, 2011-Snowsports retail sales jumped 14 percent in dollars during the pre-season sales period, August through October, compared to very strong sales in the same period in 2010, according to SnowSports Industries America (SIA) and The Leisure Trends Group. Total snow sports pre-season sales increased from $565 millio...