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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--October 25, 2011--After several council meetings, the City Council in Ashland has agreed to give up its permit for the Mt. Ashland Ski Area, Ore., to the Mt. Ashland Association, the nonprofit association that runs the area. According to the "Mail Tribune," the Association will apply for the permit from the Forest Service and is requi...

SAM Magazine--October 18, 2011--This afternoon, the Senate passed the Ski Area Recreational Opportunity Act and the bill will now head to President Obama for his signature. The bill, which will allow ski areas on Forest Service land more freedom to offer activities year-round, passed the House earlier this month. Colorado Senator Mark Udall, one...

SAM Magazine--October 18, 2011--The owners of Wisp Ski Resort in Maryland, DC Development LLC, filed for Chapter 11 bankruptcy protection on October 15. As we reported in late August (www.saminfo.com/news/article.php?tid=5237), Wisp's parent company was struggling to refinance a $28.5-million loan used to fund the development of a golf community. T...

SAM Magazine--October 13, 2011--Arapahoe Basin, Colo., is set to open its doors today, October 13. With an 18-inch base, the area is opening one intermediate trail and its terrain park with four features. Nearby, Loveland will open its doors Friday, October 14, at 9 a.m. The area's website didn't offer any further details. The two areas j...

SAM Magazine--October 13, 2011--Spanish Peaks, Mont., a swanky private ski and golf community on Lone Peak, closed its doors and laid off its staff on October 10. According to the "Bozeman Daily Chronicle," the 5,700-acre resort cited the troubled real estate market and substantial operating losses for its closure. The beleaguered club attem...

SAM Magazine-Jackson, Wyo., Oct. 11, 2011-Snow King Resort in downtown Jackson is for sale after a non-profit community group tried but failed to step in and run the area. Operations at the resort have been running $500,000 and $1 million in the red. Summer activities, including an alpine slide and miniature golf course, help offset winter losse...

SAM Magazine-Denver, Oct. 11, 2011-Having spun off its flagship Whistler/Blackcomb resort, and with its largest remaining resorts located in Colorado, Intrawest is relocating its headquarters here from Vancouver. The new office opened Sept. 26, and the transition from Vancouver will be completed by the end of the year. In the meantime, both offices...

SAM Magazine-Pagosa Springs, Colo., Oct. 7, 2011-Wolf Creek Ski Area is opening this Saturday and Sunday, Oct. 8-9, after receiving 36 inches of new snow over the past few days. This early opening is a record breaker for Wolf Creek, with the prior earliest opening being Oct. 27, 2006. It also makes Wolf Creek the first to open for the season in Col...

SAM Magazine-Boulder, Colo., Oct. 7, 2011-Active Americans plan to increase spending on sports, recreation and fitness gear by 11 percent in 2011, according to a mid-September survey by Leisure Trends Group (LTG). Its Most Active Americans Panel (MAAP) estimated it would spend an average of $584, 11 percent above the $526 Active Americans estimated...

SAM Magazine-Incline Village, Nev., Oct. 5, 2011-Diamond Peak Ski Resort has named Brad Wilson as its new general manager, effective Nov. 1. Wilson returns to the ski industry after a stint with California's Catalina Island Resort, where he was COO. Wilson is very familiar with the Lake Tahoe ski resort market, having worked at both Alpine Meado...

SAM Magazine-Evergreen, Colo., Oct. 4, 2011-Max Dercum, co-founder of both Arapahoe Basin and Keystone, died last Friday at a retirement home here, just a few days before his 99th birthday. A champion skier and forestry professor, Dercum was part of a group of seven, including his wife, Edna, who founded A-Basin in 1946. He helped found Keystone...

SAM Magazine-Washington, D.C., Oct. 4, 2011-A measure that would explicitly allow and encourage a wide range of summer activities on Forest Service land leased by winter resorts passed the House this week. The Ski Area Recreational Opportunity Enhancement Act of 2011 (H.R.765) updates the National Forest Ski Area Permit Act of 1986 to outline a ...

SAM Magazine-Aspen, Colo., Sept. 30, 2011-The Aspen Skiing Co. is seeking a new structure to replace the snowsport school's Team Leader system and maintain open lines of communication within the school. The Team Leader system was developed 18 years ago as part of management's efforts to derail a move to unionize the school. However, the National La...

SAM Magazine-Oconomowoc, Wisc., Sept. 30, 2011-Highlands of Olympia ski and snowboard area will open for the 2011-2012 season with new management: Casey Bingham and Brent Milkey. The two plan to make improvements to the terrain park, focus on beginner lessons, and offer some of the best rates and prices in the area. "We are very anxious to ma...

SAM Magazine-Monarch, Colo., Sept. 30, 2011-Monarch Mountain season's passes are now valid for skiing on two continents, in four countries, and in six states-at a total of 26 areas, including the latest to join the Monarch fold: Hochfelln, Kampenwand, Wendelstein and Oberaudorf, Germany and Hochkossen, Austria,. The five European ski areas are part...