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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-Sugar Mountain, N.C., Oct. 25, 2010-The North Carolina ski industry generated $146 million in economic activity in the 2009-10 winter season, according to a study conducted by RRC Associates for the North Carolina Ski Areas Association (NCSAA). Total direct expenditures on winter sports were $88.5 million. Indirect economic activity wa...

SAM Magazine-Broomfield, Colo., Oct. 25, 2010-Vail Resorts (VR) has acquired the stock of the companies that operate Northstar-at-Tahoe from Booth Creek Resort Properties LLC and other sellers for $63 million. The operations of Northstar-at-Tahoe are conducted on land owned by CNL Lifestyle Properties Inc., which will be leased to Vail Resorts unde...

SAM Magazine-Andover, N.H., Oct 25, 2010-Dalbello and Elan are ending their joint distribution agreement as of Jan. 1, when Alpina Sports Corp. in Lebanon, N.H., will assume responsibility for Elan. The two companies will continue to market the 4Factor rental system, although Dalbello also plans to offer its Vantage system boot for use with other b...

SAM Magazine-Denver, Oct. 24, 2010-Loveland Ski Area opened at 9 a.m. today, one day ahead of the scheduled opening of neighboring Arapahoe Basin on Monday. For both, this is the start of continuous operations for the season.The news brought an energized crowd to Loveland today, demonstrating that people are eager for ski season. Snowmaking eff...

SAM Magazine-Newry, Maine, Oct. 22, 2010-Sunday River Ski Resort became the first resort in the country to open as of 3:30 p.m. EDT today, with skiable terrain on its T2 trail from the top of the mountain down to the midstation of the Locke Mountain triple chair. This marks the first time the resort has been the first to open-that is, aside from...

SAM Magazine-Wildwood, Mo., Oct. 21, 2010-Peak Resorts has entered into a purchase agreement to acquire all Wildcat Mountain Ski Area assets and attractions in Pinkham Notch, N.H., from longtime owner Pat Franchi, pending approval by the U.S. Forest Service. Adding to its portfolio of resorts located in six U.S. states, including Attitash and Crotc...

SAM Magazine--October 20, 2010--A jury returned a unanimous defense verdict yesterday in the case of James Malaguit v. Ski Sundown, Inc., in the Connecticut Superior Court, Litchfield, Conn. James Malaguit was 15 years old on February 17, 2006, when he went off a terrain feature in Ski Sundown's terrain park. He reverse rotated and landed on the...

SAM Magazine-Boise, Idaho, Oct. 20, 2010- Federal bankruptcy judge Terry Myers has rejected a $2 million loan intended to allow Tamarack Resort to maintain facilities and reopen this winter while it finds a buyer, saying that the onerous conditions of the loan made it likely the resort would default once again. Whether Tamarack will open or not ...

SAM Magazine-Waterville Valley, N.H., Oct. 19, 2010-Less than a week after taking over, the new owners of Waterville Valley are buying 25 energy-efficient HKD tower guns and a new Prinoth Bison groomer. Total investment in the six weeks leading up to the area's planned Nov. 20 opening will hit $500,000. "We completed the purchase of Waterville V...

SAM Magazine-Denver, Oct. 19, 2010-Despite ongoing economic fluctuations and decreased consumer confidence, western mountain destinations posted a 15.8 percent increase in occupancy in September 2010 compared to September 2009, according to the latest data released by Mountain Travel Research Program (MTRiP). This represents the biggest monthly inc...

In the latest installment of SAM's Summer Ops video series, the SAM CAM visited Nashoba Valley's Sunset Tiki Bar in western Mass., where guests are treated to summer fun on the ski area's snowmaking pond. Nashoba's success with the Sunset Tiki Bar this summer has surprised even its owners, the Fletchers. "The Tiki Bar has more than doubled our s...

SAM Magazine-Ishpeming, Mich., Oct. 14, 2010-World Champion ski racer Daron Rahlves, iconic skiing legend Glen Plake, and the late big-mountain freeskier Shane McConkey are among six skiers and builders named to the U.S. Ski and Snowboard Hall of Fame's Class of 2010. They will be joined by Paralympic medalist and World Champion Muffy Davis, Olympi...

SAM Magazine-Whistler, B.C., Oct. 14, 2010-Fortress Investment Group is planning to sell a significant stake in Whistler Blackcomb within the month, via an IPO expected to net C$300 million, according to filings with Canadian securities commissions. Fortress will keep a stake of unknown size in the resort as well. The group of banks that are con...

SAM Magazine-Tahoe City, Calif., Oct. 13, 2010-Alpine Meadows is the first resort in North America to install the Magnestick chairlift safety system for kids, which will be used on the area's Meadow and Subway chairs during the 2010-11 season. The system uses an electromagnetic seatback and corresponding magnetic vest worn by children riding a c...

SAM Magazine-Waterville Valley, N.H., Oct. 11, 2010-The Sununu family is leading a group of local investors that has purchased Waterville Valley from Booth Creek Resorts. The assets include the Waterville Valley Ski Area, Waterville Valley Nordic Center, Waterville Valley Conference Center and Town Square. Waterville Valley, opened in 1966, was ...