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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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Time is running out to send in nominations for two important industry awards: the SAMMY Leadership Award and the Diversity Leadership Award. Both awards close at the end of this week, April 3rd, 2009. Nominees for the SAMMY Leadership Awards can come from both the resort side of the industry and the supplier side. The SAMMYs honor people who, at...

SAM Magazine-Denver, Colo., March 28, 2009-Not only is Snowsports Industry America's annual trade show moving to Denver after 37 years in Las Vegas, the organization is changing the name of the event to the SIA Snow Show. "With our move to Denver we have the opportunity to put the 'snow' back in snow sports and return to the core of our sport, s...

SAM Magazine-Winter Park, Colo., March 28, 2009-Winter Park and Copper Mountain have slashed the price of the areas' joint Rocky Mountain Super Pass Plus. The pass, which cost $439 this winter, is now offered for $399. The pass includes unlimited access at Copper and Winter Park and six days at Steamboat, as it did last eyar. In addition, consumers...

SAM Magazine-Corvara, Italy, March 26, 2009-World-renowned big-mountain freeskier Shane McConkey died today while ski-BASE jumping in the Dolomites. He was working on a new film with JT Holmes and a crew from Matchstick Productions. Details of the accident are not clear; McConkey had planned to do a double backflip off the Val Scura couloir on Sass...

SAM Magazine-Tannersville, Pa., March 23, 2009-Camelback Mountain Resort, in its 46th year, will set a new mark for length of season on Wednesday, its 124th day of operation. The old record was set in 1992-93. To celebrate the milestone, Camelback will offer a special $12.40 lift ticket on Wednesday. Camelback anticipates it will close temporari...

SAM Magazine-Squaw Valley, Calif., March 19, 2009- Squaw Valley is cutting season pass prices for the 2009-10 ski and snowboard season by up to $1,000 in honor of the 60th Anniversary of the ski area's founding and the 50th Anniversary of Squaw Valley hosting the 1960 Winter Olympics. Coined the "50/60 Pass," the restructured season passes go o...

SAM Magazine-Telluride, Colo., March 19, 2009-In the wake of additional spring snowfall, several resorts, among them Telluride, Mount Washington, B.C., and Belleayre, N.Y., are extending their seasons. Telluride will keep the Coonskin and Plunge lifts open for an additional week after the scheduled resort close, April 5. Only terrain off the Plu...

SAM Magazine-Denver, Colo., March 18, 2009-Western destination lodging reservations were down 16.3 percent through February, according to the latest data from the Mountain Travel Research Program (MTRiP). In addition, average daily room rates were down 7.6 percent. MTRiP data cover 216 properties in 15 destination resorts in Colorado, Utah, Califor...

SAM Magazine-Kiltarlity, Ireland, March 17, 2009-Recession, what recession? U.S. ski areas are selling 19 of the 20 most expensive six-day lift tickets on the planet, according to the World Ski Lift Ticket Price Report (2009). This annual study compares six-day, peak-season prices from more than 600 ski areas in 40 countries worldwide. The repor...

SAM Magazine-Denver, Colo., March 12, 2009-Skier visits at Colorado Ski Country USA's 22 member resorts in January and February were off by 5.8 percent compared to the same period last year. As such, visitation is up slightly compared to the five-year average for the period, and those five years include three years that were the highest on record. ...

SAM Magazine-Are, Sweden, March 11, 2009-Lindsey Vonn added yet another landmark to an already historic season for U.S. ski and snowboard competitors as she took her 21st career win in the downhill at the Audi FIS World Cup Finals. She then won her fifth super G in a row to extend her dominance of the women's tour. Her victories were the latest in ...

SAM Magazine-Broomfield, Colo., March 11, 2009-Vail Resorts second quarter results for fiscal 2009, ended Jan. 31, show resort revenue (mountain operations and lodging) of $299.6 million compared to $314.5 million a year earlier, a decrease of 4.7 percent. Lodging bookings were down 14.9 percent. But total revenue, including real estate sales, came...

SAM Magazine-Broomfield, Colo., March 11, 2009-Vail Resorts will adopt a companywide wage reduction plan to reduce labor costs while preserving as many jobs as possible. Employee salaries will be reduced on a sliding scale, from 2.5 percent for seasonal employees to 10 percent for executives. This wage reduction plan, combined with certain other ad...

SAM Magazine-Gilford, N.H., March 11, 2009-More and more resorts are selling next year's passes at this year's prices. Gunstock, N.H., is one of the latest to make this offer. In addition, seniors will be given a break, with pricing the same as children. Unlimited season passes are $329 for adults and teens (13-64); seniors (65+) and children (6...

SAM Magazine-Reno, Nev., Mar. 6, 2009-A ski patroller working avalanche control routes at Squaw Valley was killed due to trauma sustained after being caught in an slide last Tuesday. Andrew Entin was partially buried by the avalanche, but injuries sustained during the incident were severe enough to kill him, according to Squaw officials. Entin was ...