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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, Dec. 2, 2011-Colorado-based Eco-Groomer is initiating production of its first 60 energy-efficient snow processing units. These units add two additional "outrigger" tillers to a standard snowcat and increase the coverage area by 200 percent. The units are said to increase the fuel efficiency of grooming operations by 35 percent ...

SAM Magazine--December 2, 2011--Squaw Valley and Alpine Meadows, Calif., have commenced a pilot study to determine the possibility of creating backcountry access gates that would allow on-snow travel between the two resorts. During the upcoming season, the management and ski patrols at the two ski areas, along with the U.S. Forest Service, will inv...

SAM Magazine-Lincoln, N.H., Nov. 22, 2011-Big snow in the Northwest, up to 28 inches at Whistler Blackcomb, has helped some areas in the region open earlier than planned. In the East, a warm spell forced several areas to delay openings last weekend. But with colder evening temperatures and with up to a foot of snow forecast for northern New England...

SAM Magazine--November 21, 2011--The Wall Street Journal reported that Peak Resorts announced today that it is offering 5 million common shares and expects the initial offering price to be between $16 and $18 per share. The company hopes to raise $85 million in the IPO and command a market value of $152 million. In addition, Peaks Resorts plans to ...

SAM Magazine-Boulder, Colo., Nov. 18, 2011-In a sign of health for outdoor sports, preliminary Outdoor RetailTRAK data from Leisure Trends Group indicate that outdoor retail sales gained 14 percent over October 2010, spurred by especially strong apparel sales. Sales continued on pace with September's record total, as outdoor stores posted largest-e...

SAM Magazine-Orlando, Fla., Nov. 18, 2011-CNL Lifestyle Properties, Inc.,has acquired Stevens Pass from New Stevens, LLC for $20.5 million. Stevens Pass Mountain Resort, LLC, an affiliate of Mountain High Resort Associates, LLC, in California, will operate the area under a long-term lease agreement. Karl Kapuscinski of Mountain High will serv...

SAM Magazine-Leavenworth, Wash., Nov. 18, 2011-Recent cold temperatures and periods of heavy snowfall combined with a strong winter weather outlook have led Stevens Pass, Schweitzer, Mt. Hood Meadows, Mission Ridge, and Summit West at Snoqualmie to open Nov. 19. Stevens Pass is reporting a base of 25-32 inches, and will have its third-earliest o...

SAM Magazine--November 17, 2011--Bookings for the upcoming winter season continue a positive trend upward at participating mountain destinations throughout the western U.S., despite mixed economic news and indicators, according to the most recent report by the Mountain Travel Research Program (MTRiP) released yesterday. As of Oct. 31, on-the-books ...

SAM Magazine-Park City, Utah, Nov. 17, 2011-Canyons is proposing a groundbreaking gondola to connect Canyons and Solitude resorts and reduce auto traffic between the two. The SkiLink gondola would tie together 6,000 acres of existing terrain. "Studies have reported that SkiLink would decrease canyon traffic by providing an alternative to the 45-...

SAM Magazine-Lutsen, Minn., Nov. 16, 2011-Lutsen Mountains recently gained a variance from the state's department of natural resources (DNR) to draw snowmaking water from the nearby Poplar River, even though the waterway has dropped below minimum flow levels. The decision, which the DNR says only applies for the next three years, has drawn criticis...

SAM Magazine-Frisco, Colo., Nov. 16, 2011-The U.S. Ski Team Speed Center, a long-term partnership between the U.S. Ski and Snowboard Association (USSA) and Copper Mountain Resort, officially opened Tuesday. The early-season facility provides the only full-length downhill training available anywhere in the world during late October and early Nove...

SAM Magazine-Park City, Utah, Nov. 16, 2011-A slew of Western resorts are opening this weekend, along with several in the Northeast and a smattering of areas in Canada and the rest of the U.S. Park City is one of four areas in Utah that are starting up the lifts. It will operate three lifts and seven runs, as well as its all-season mountain coas...

SAM Magazine-Lebanon, N.H., Nov. 16, 2011-SnoCountry Ski Areas Association is launching SnoNews, a weekly consumer eNewsletter featuring original news and features on skiing, snowboarding, mountain resorts, travel, and lift ticket deals, on Nov .23. SnoNews will email weekly to a list of more than 50,000-and growing-subscribers every week, givin...

SAM Magazine--November 16, 2011--The previously announced transaction between KSL Capital Partners and JMA Ventures, which joins Squaw Valley and Alpine Meadows under one operating company, has officially closed. The two resorts will be connected by complimentary shuttles that will provide transportation between the two resorts. Andy Wirth, Squ...

SAM Magazine-San Diego, Calif., Nov. 14, 2011-The Active Network, Inc., a provider of organization-based cloud computing applications, has acquired enterprise computer services provider RTP. For Active, which has focused primarily on helping organizers manage summer events, RTP "is an excellent complement to our mission of connecting people with th...