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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-Woodbury, Conn., April 1, 2010-SAM Magazine is proud to announce the recipients of the 13th annual 2010 SAMMY Leadership Awards. They are: 1) Julie Maurer, vice president of marketing for Boothcreek. Julie first joined Northstar-at-Tahoe in 1982 as a PR assistant and quickly moved up to marketing director. Under various owners, Jul...

SAM Magazine--March 26, 2010--Brian Head Resort in southwestern Utah is on the block with an asking price of $34.75 million. According to CB Richard Ellis' Land Services Group, the company that has the listing, Brian Head averages 141,000 skier visits and total revenue from ski operations averaged more than $6.8 million over the past three years. E...

SAM Magazine--Quebec City, Quebec, March 25, 2010--Mont Orford, which is owned by the provincial government of Quebec, is on the block for $1. The catch? The buyer would have to put down a security deposit of $4 million and commit to running the resort and golf course for five years. As well, the government would still own the 1,100 acres. Accor...

SAM Magazine-Squaw Valley, Calif., Mar. 25, 2010- In honor of the 50th anniversary of the 1960 Squaw Valley Olympic Winter Games, Squaw Valley USA is hosting the first-ever U.S. Professional Ski Patrol Olympics Apr. 16 to 18, 2010. This will be the first time that ski patrollers from across the continent have gathered for one epic competition, with...

SAM Magazine-Park City, Utah, Mar. 19, 2010-Park City Mountain Resort, The Canyons Resort and Deer Valley Resort are hosting their 2nd annual Wasatch Backside Lifty Invitational (WBLI) Mar. 29-Apr. 2, 2010. The event is held "to recognize the hard work of our lift operations teams," said Jeff Marzka, lift operations manager at Park City Mountain Re...

SAM Magazine-Boise, Idaho, Mar. 19, 2010-A federal judge has declared Tamarack Resort bankrupt. The decision will allow newly named trustee Jeremy Gugino to begin liquidating the resort's assets and pay off creditors. Liquidation is expected to be a lengthy process. One major complication: Tamarack's largest creditor, Credit Suisse, is moving in...

SAM Magazine-Fresno, Calif., Mar. 19, 2010-Industry veteran Tim Cohee has signed an agreement to purchase Sierra Summit. The acquisition, which is expected to close by Apr. 30, will return Cohee to the area where he began his career nearly 30 years ago. Purchase price is said to be just under $4 million. Cohee, who has been an executive at Kirkw...

SAM Magazine-Denver, Mar. 16, 2010-Resorts in highly competitive markets continue to offer discounted passes with early-purchase incentives for 2010-11, often at 2009-10 prices. Many of these offers include additional perks, from discounted tickets for friends or summer activities to lodging and dining discounts. In Colorado, the Rocky Mountain ...

SAM Magazine-Denver, Mar. 16, 2010-Lodging occupancy through February nudged up a scant 0.03 percent ahead of last season, continuing a very slow trend toward growth, according to the most recent Mountain Travel Research Program report. This "indicates the reversal of a long term down cycle," noted Ralf Garrison, founder and director of MTRiP. The ...

SAM Magazine-Chillan, Chile, Mar. 12, 2010-The Nevados de Chillan resort, and the hotel and conference center known as Termas de Chillan, experienced only minor damage from the earthquake, SAM has learned, and preparations for the upcoming season were not affected. The Chillan resort was the closest to the earthquake epicenter, about 110 miles, of ...

SAM Magazine-McLean, Va., Mar. 11, 2010-A total of 18,932 attendees gave the SnowSports Industries America (SIA) Snow Show its greatest attendance in six years, according to SIA. The show, with more than 3,100 booths representing 845 snow sports brands, was held at Denver's Colorado Convention Center Jan. 28-31 for the first time, after a 37-year r...

SAM Magazine-Denver, Mar. 11, 2010-Colorado Ski Country USA (CSCUSA) member ski areas saw visits dip 4 percent durin January and February compared to the same period last year. This puts visits for the season to date down 2 percent. After an encouraging start to the season, visitation slowed in January, as snowfall lagged across a large part ...

SAM Magazine-Broomfield, Colo., Mar. 10, 2010-Vail Resorts (VR) is continuing its popular season's pass programs and adding a new Epic 7-Pack as well as an unrestricted pass to Keystone and Arapahoe Basin. The Epic 7-Pack ($449) is a seven-day unrestricted ticket valid at Vail Resorts' five mountain resorts and Arapahoe Basin, about a 35 percent...

SAM Magazine-Broomfield, Colo., Mar.10, 2010-Vail Resorts (VR) reported mixed second-quarter results today, as a slight gain in mountain operations was offset by a slight decline in lodging revenues and a virtual absence of real estate activity this year compared to last, due primarily to the timing of real estate closings. Overall, the results sho...

SAM Magazine-Portillo, Chile, Mar. 9, 2010-Ski Portillo, located approximately 100 miles from Santiago, Chile's capital city, escaped the recent earthquake with no injuries and only superficial damage. Tierra Atacama, located in San Pedro de Atacama, more than 1,000 miles north of the epicenter, is also undamaged. Hotels, infrastructure, lifts, and...