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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-Vienna, Austria, July 6, 2010-The Organisation Internationale Des Transports a Cables (OITAF) will hold its tenth worldwide congress Oct. 24-27 in Rio de Janeiro, Brazil, in conjunction with Companhia Caminho Aéreo Pão de Açúcar, which operates two reversible cableways in the city. OITAF has also issued its call for pape...

SAM Magazine-Angel Fire, N.M., July 6, 2010-Angel Fire Resort has named John Kitts CEO, effective July 23. He will oversee Angel Fire's five principal businesses-operations, membership, timeshare, resort development and real estate sales. Kitts had been the resort's CFO for the past two years. Kitts succeeds Pat Brunstad, who had been CEO and di...

SAM Magazine-Harbor Springs, Mich., July 1, 2010-Are Superpipes becoming an endangered species? As at some other resorts around the country, Nub's Nob's Superpipe was the least-used piece of real estate at the area. So the area reshaped the walls and built a new race arena slope to provide a home for aspiring racers. The venue is specifically de...

SAM Magazine-Stratton, Vt., July 1, 2010-Stratton Mountain Resort will stage the first Vermont Solutions Festival Aug. 27-28, held in collaboration with the state of Vermont, to celebrate sustainability, sport and wellness. "The Vermont Department of Tourism & Marketing is excited to be a partner in the new development of the Vermont Solution...

SAM Magazine-Cannonsburg, Mich., July 1, 2010-The Brown family, which has owned and operated Cannonsburg Ski Area for more than three decades, has sold the resort to James Wynn, an attorney in Petoskey. The sale also includes Arnold Transportation, a ferry boat company operating out of Mackinaw City. Both Cannonsburg and Arnold Transportation have ...

SAM Magazine-Park City, Utah, July 1, 2010-Jenni Smith has been appointed president and general manager of Park City Mountain Resort (PCMR) by parent company Powdr Corp. Most recently, Smith served as vice president of resort administration and development at PCMR. She replaces Peter Curtis, president and GM since 2004, who is retiring. Smith's new...

SAM Magazine-Salt Lake City, June 24, 2010-The Utah ski and snowboard industry closed the 2009-10 winter season last Sunday with a total of 4,048,153 skier days, up two percent from the 2008-09 season's 3,972,984. The two percent increase signals success for the industry in light of the current economic climate, according to Ski Utah. Ski Utah pres...

SAM Magazine--June 23, 2010--A five-year-old plan for a ski area on St. Mary's Glacier outside of Denver was voted down by Clear Creek County's commissioners. According to the Denver Post, the three-member board voted 2-1 to reject the plan for Eclipse Snow Park. The 284-acre property was bought for $1.65 million in 2005 by Michael Coors. At fir...

SAM Magazine-Truckee, Calif., June 22, 2010-Boreal Mountain Resort will reopen for a weekend of skiing and riding July 10-11, from 10 a.m. to 2 p.m. each day. The area's Castle Peak Quad will service a variety of park features. Lift tickets will cost $20. More details will be available shortly, according to the resort....

SAM Magazine-Salt Lake City, June 22, 2010-The U.S. Forest Service has denied Solitude Mountain Resort's request to expand lift-served ski and snowboard terrain onto the adjacent Silver Fork, a side canyon to Utah's Big Cottonwood Canyon that is popular with backcountry skiers. Among other issues, the proposal conflicted with a 2003 forest plan for...

SAM Magazine-Whistler, B.C., June 22, 2010-Intrawest is exploring the sale of Whistler Blackcomb, according to the Wall Street Journal. WSJ says that Intrawest has talked with Russian billionaire Vladimir Potanin about a potential acquisition. Potanin has expressed interest in Whistler Blackcomb in the past. Possible price for any such sale is not ...

SAM Magazine-North Conway, N.H., June 18, 2010-Cranmore Mountain, now run by Jiminy Peak principals Brian Fairbank, Joseph O'Donnell and Tyler Fairbank, will get nearly $7 million in improvements in the next six months, providing a facelift in time for winter operations set to begin in November 2010. CNL Lifestyle Properties is providing the capita...

SAM Magazine-Huntsville, Utah, June 17, 2010-Snowbasin Resort has filed a Master Plan with Weber County's Ogden Valley Destination and Recreation Resort Zone to build a sprawling resort village. The plan calls for up to 2,400 residential units, most of which would be built near the existing base lodge, and encompass hotels, condominiums and town...

SAM Magazine-Crested Butte, Colo., June 17, 2010-The U.S. Forest Service will conduct a formal review of a recent appeal decision that nixed Crested Butte's proposal to expand onto Snodgrass Mountain. The associate deputy chief for the National Forest, Gloria Manning, will review the earlier decision, which upheld forest supervisor Charlie Richm...

SAM Magazine-North Conway, N.H., June 17, 2010-The principals of Jiminy Peak Mountain Resort-Brian Fairbank, Joseph O'Donnell and Tyler Fairbank-have purchased the assets of Cranmore Mountain Resort from Booth Creek Resorts. The new owners plan to make major upgrades and improvements. CNL Lifestyle Properties, which already has business relationshi...