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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--Whistler, B.C., May 28, 2009--Whistler Blackcomb officials announced that the last day for skiing and riding on Whistler Mountain will be Sunday, May 31. Originally slated for June 14, the closing date was moved up because of very warm weather, which has quickly diminished the snowpack and posed avalanche hazards. The mountain will...

SAM Magazine-Stowe, Vt., May 18, 2009-Stowe Mountain Resort, owned by insurance giant and ward of the government AIG, is for sale, AIG spokesman Peter Tulupman confirmed last week. AIG has received "a surprising number" of unsolicited bids from qualified buyers, Tulupman said, though no bidders have been named or identified, nor has the askin...

SAM Magazine--Lakewood, Colo., May 18, 2009--Based on preliminary estimates, ski areas in the U.S. tallied 57.1 million visits for the 20008/09 season, making it the fifth best season on record. While last year's record of 60.5 million still stands, this year's number, given the circumstances, is still 0.8 percent above the 10-year average of 56.7 ...

SAM Magazine-Butte, Mont., May 18, 2009-CrossHarbor Capital Partners today won ownership of the Yellowstone Club resort after reaching a settlement deal with the club's primary lender, Credit Suisse, according to NewWest.net. The settlement ends a six-month legal battle that began when the Club filed for bankruptcy protection in November. U.S. B...

SAM Magazine--Vail, Colo., May 11, 2009--A ski accident in 2007 at Beaver Creek that involved a 7-year-old boy and an adult skier from Pennsylvania has been highlighted as a good example of a frivolous lawsuit by the U.S. Chamber Institute for Legal Reform. According to the Vail Daily, the crash is being featured in movie trailers showing in the De...

SAM Magazine-Fairfield, Idaho, May 11, 2009-The managers of Soldier Mountain Ski Resort say the area will rebuild its base lodge and open for the 2009-10 season. The lodge burned to the ground on March 30. Shelly Scott, office manager for Valley Entertainment in Hailey, Ida., says the new lodge will be slightly larger than the old. However, wet ...

SAM Magazine-McLean, Va., May 8, 2009-Retail sales for the 2008-09 season fell 5 percent, as fear about economic security kept consumers, retailers and suppliers in a cautious mood, according to Snowsports Industries America (SIA). Overall, the season's sales totaled $2.82 billion, compared to last season's $2.95 billion. Unit sales declined three ...

SAM Magazine-Vail, Colo., May 6, 2009-The Vail Valley is pursuing a third World Alpine Ski Championships. The U.S. Ski and Snowboard Association has selected Beaver Creek/Vail as the American candidate applicant for the 2015 Championships. The Vail Valley hosted the 1989 and 1999 World Championships and has been a part of the FIS Alpine World Cu...

SAM Magazine-Oslo, Norway, May 6, 2009-The Southern hemisphere ski season is beginning five weeks early, even as snowfalls across Europe put a fresh face on the season there and provide a boost to Norway's summer season, according to skiinfo.com. The season in Europe was so strong this past winter, they're still skiing in Spain, at Europe's most so...

SAM Magazine--Quebec City, Que., May 4, 2009-- Daniel Gauthier, owner of Le Massif ski area in Quebec, announced today that he has found another financial investor for his tourism project in Charlevoix. The investor is Gauthier's long-time friend and business partner, Guy Laliberte, the founder of Cirque du Soleil. Laliberte is making a CDN $10 mil...

SAM Magazine-Lakewood, Colo., May 1, 2009-Henry "Hank" Lunde has received the National Ski Areas Association Lifetime Achievement Award, while Bill Gilbert has earned the Sherman Adams award, NSAA announced today. Lunde was president of Vermont's Killington and SKI, Ltd., for 28 years before spending nearly a decade as president of Stowe Mountai...

SAM Magazine-Mt. Hood, Ore., May 1, 2009-Not only are several North American resorts still operating, several others are reopening for the first weekend in May. Mt. Hood Meadows Ski Resort resumes operations today through Sunday, May 1, 2 and 3 for a season encore. Similarly, Wolf Creek and Echo Mountain, Colo., Jay Peak, Vt., and Alpental, Wash...

SAM Magazine-Lakewood, Colo., April 30, 2009-The National Ski Areas Association (NSAA) has honored nine member resorts with its annual Heads Up National Ski Area Safety Awards, in recognition of the resorts' programs to educate employees and guests about skiing and snowboarding responsibly. The 2009 winners are: Â Best Overall Safety Program...

SAM Magazine--April 28, 2009--The National Ski Areas Association (NSAA) announced the winners of the 2008/09 Marketing and Guest Service Awards. The awards are presented annually to ski resorts of all sizes nationwide for their successful marketing and guest service programs that ultimately help grow winter sports. This year's categories recogn...

SAM Magazine-Park City, Utah, April 24, 12009-Globally and in North America, the Rossignol Group is focusing on its core competencies, streamlining many of its departments and systems, and reducing its workforce by 30 percent, North American president Francois Goulet told U.S. and Canadian employees on April 22. "Those necessary reductions, whil...