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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-Jay, Vt., Sept. 1, 2010-A three-way land swap at Jay Peak clears the way for base area and on-mountain expansions, including replacement of the area's old Stateside lodge and upgrading lifts. The deal also allows future development on the mountain while providing a buffer between the resort and the Long Trail, a 273-mile hiking trail t...

SAM Magazine-Durango, Colo., Aug. 31, 2010-Jack Turner, the producer of the soon-to-be-released "Cheap Ski Movie," has launched a ski movie trivia contest with a grand prize of $40,365.79. The first eligible person to correctly answer 100 trivia questions based on "Cheap Ski Movie" and the history of skiing/snowboarding takes home the cash prize. ...

SAM Magazine-Broomfield, Colo., Aug. 31, 2010-Vail Resorts is launching EpicMix, an online and mobile application that lets guests at the company's five resorts digitally capture their ski and ride experiences and share them. "EpicMix takes the fun of playing and sharing online and marries it with the very real experience of skiing and riding," sai...

SAM Magazine-Carrabassett Valley, Maine, Aug. 31, 2010-Sugarloaf is expanding onto neighboring Burnt Mountain in a development that will eventually add 655 acres of terrain over the next decade, effectively doubling the area's size. For the coming season, the area is adding 270 acres. The expansion is part of a comprehensive, 10-year plan for devel...

SAM Magazine--August 26, 2010--A proposed helmet law (SB 1652) for minors in California passed the state Assembly last week and the Senate yesterday and will now head to Governor Arnold Schwarzenegger for sign-off. The bill would impose a $25 fine on parents of kids caught skiing or snowboarding without a helmet. Ski areas will be required to po...

SAM Magazine-La Veta, Colo., Aug. 26, 2010-A newly formed Cuchara Valley Recreational Metropolitan District has taken ownership of the Cuchara Mountain Resort in southern Colorado, and officials there hope to redevelop the dormant former ski area into a year-round sports facility. Huerfano County established the special recreation district to op...

SAM Magazine-Park City, Utah, Aug. 24, 2010-Canyons is adding two state-of-the-art Doppelmayr quads, including the first in the U.S. with heated seats and orange bubble enclosures, improving access to the gondola from the village, expanding terrain and expanding its snowmaking capabilities. This is the first phase in the redevelopment Canyons under...

SAM Magazine--Trenton, N.J., August 24, 2010--In a 33-2 vote yesterday, the New Jersey state Senate passed a bill requiring kids under the age of 18 to wear helmets at ski areas. Under the proposed law (it heads to the state Assembly now), parents, legal guardians and supervising adults will be fined $25 for the first offense and up to $100 for rep...

SAM Magazine-Denver, Aug. 17, 2010-Despite growing signs of economic weakness, the overall travel industry continues to rebound. Mountain destinations participating in the Mountain Travel Research Program (MTRiP),* experienced sharp increases in July occupancy, as well as increases in the advance reservations for the next six months. Destinatio...

SAM Magazine-Billings, Mont., Aug. 19, 2010-A federal judge has ruled that Yellowstone Club founder Tim Blixseth caused the Club's bankruptcy in 2008. However, the judge also found Credit Suisse partly to blame for the spectacular collapse, and it seems likely that Blixseth will be liable for "only" $20 million to $65 million of the more than $200 ...

Last summer SAM Magazine kicked off a series of resort profiles featuring summer attractions across the country. These profiles were also covered in more depth in the pages of SAM. We continue our summer ops series here with a trip to Amesbury Sports Park in Amesbury, Mass., where publisher Olivia Rowan takes a ride in the OGO. Amesbury Sports ...

SAM Magazine--August 17, 2010--According to the Wall Street Journal, Snowmass base village developers, Related Cos., J.E. Roberts Cos. and Istithmar, filed suit this week against the lenders that started foreclosure proceedings last month. The suit alleges that the banks reneged on $520 million of promised financing, thereby derailing the build-out...

SAM Magazine--August 17, 2010--Two city-owned ski hills in and around Toronto were given a lifeline by David Miller's executive committee, which voted to restore $600,000 in funding to keep the Centennial Park Ski and Snowboard Centre and Earl Bales Ski and Snowboard Centre open this coming season. Originally, the city was looking to privatize t...

SAM Magazine--Middlefield, Conn., August 9, 2010--The former owner of Powder Ridge Ski Area in Connecticut, Ken Leavitt, has filed a lawsuit against the town of Middlefield and several officials after they used "bullying tactics" to take over the ski area and its 278 acres. According to the Middletown Press, Leavitt, who owned the area from 1997 un...

SAM Magazine-Hunter, N.Y., Aug. 9, 2010-Hunter Mountain is receiving a $4.8 million federal guarantee for a loan that is funding the purchase and installation of its new base to summit six-pack. The loan will also cover the refurbishing and relocation, in summer 2011, of the high-speed quad the six-pack replaces. The loan, held by Hunter's longt...