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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 - Red Lodge, Mt., August 5, 2008 - With the Cascade wildfire 66-percent contained, crews are starting mop up operations at Red Lodge. The Cascade wildfire continued to burn overnight toward natural barriers to the west and south, but crews were pulled off the blaze at midnight on Sunday. Helicopters have also flown out 11,200 pounds of...

SAM Magazine-Red Lodge, Mont., Aug. 3, 2008-The Cascade Wildfire that has been threatening Red Lodge Ski Area is currently 33 percent contained, with crews solidifying fire lines around the resort and making progress in battling the blaze. The fire has burned more than 10,000 acres and is still active, with moderate rates of spread and mid-range...

SAM Magazine-Red Lodge, Mont., Aug. 2, 2008-Crews are making progress on the Cascade Wildfire, which has been threatening Red Lodge Ski Area. Currently the fire has burned 9,701 acres and is 31 percent contained. It appears that Red Lodge Ski Area will escape serious damage from the wildfire, but the situation on the ground remains fluid. Fire c...

SAM Magazine--August 1, 2008--All non-essential staff have been evacuated from Red Lodge Ski Area. Mont., in the face of a fast-moving wildfire that is threatening the resort. The Forest Service has approximately 700 firefighters and support staff battling the blaze. But with high winds expected and only 10-percent of the conflagration contained, t...

SAM Magazine - Squaw Valley, Ca., July 31, 2008 - Squaw Valley has come to a lease agreement with local resident Troy Caldwell to lease land owned by Caldwell at the top of the ski area's KT-22 lift. The 57-year lease will preserve access for Squaw skiers and potentially marks the end of a stewing disagreement with Caldwell, who owns 460 acres adja...

SAM Magazine-Boulder, Colo., July 31, 2008-Two mergers have changed the face of snowsports media this week. Storm Mountain Publishing (SMP), the owners of Snowboard and Freeskier Magazines have announced that the company has acquired the assets, including websites and subscribers of recently defunct Future Snowboarding magazine. And, Ski Press has ...

SAM Magazine - Calgary, AB., July 31, 2008 - While the airline industry has been rocked by high fuel prices and consumers tightening their belts when it comes to vacation travel, several Canadian resorts got a bit of good news with the announcement that Delta Air Lines will commence direct jet service from Salt Lake City (SLC) to Canadian Rockies I...

SAM Magazine - Lynchburg, Va., July 31, 2008 - The Christian institution of higher learning founded by Jerry Falwell, Liberty University, has announced plans to install a dry ski slope on the campus. The University is working in conjunction with the English dry slope manufacturer, Snowflex, and the facility will be named the Mountain Snowflex Cente...

SAM Magazine - Denver, Co., July 31, 2008 - A Denver jury has found Vail Resorts not liable in a lawsuit claiming that the company was negligent in hiring ski instructor David Lorenzen, who was found not guilty of rape last year in a case involving a 17 year old woman who Lorenzen was instructing. The victim claimed she was raped in January 2006...

SAM Magazine-Hidden Valley, Pa., July 23, 2008-Scott Bender has joined the Buncher Resort & Hospitality Group, LLC as vice president of resort operations and will lead the management team at Hidden Valley Four Seasons Resort. Bender was formerly the president and CEO of neighboring Seven Springs Mountain Resort, where he worked for more than 25 yea...

SAM Magazine-Mammoth Lakes, Calif., July 23, 2008-Joining the growing number of airlines to offer resort access, Horizon Air will inaugurate daily nonstop flights from Los Angeles to Mammoth Mountain for the 2008/2009 season, starting Dec. 18 and running through Apr. 12. "The addition of commercial air service to Mammoth represents a big step to...

SAM Magazine-Vail, Colo., July 21, 2008-It's a long way from being a lift op to becoming a senior VP. But Derek Koenig, who spent a year in the early 1990s working as a Beaver Creek lift op, has done just that, having been named VR's new senior vice president and chief marketing officer. Koenig will assume responsibilities for VR's corporate mar...

SAM Magazine-Donnelly, Idaho, July 21, 2008-Andre Agassi and Steffi Graf, tennis stars and Tamarack Resort fans, and their investment group have decided against building a proposed Fairmont luxury hotel at the fledgling resort. The group cited Tamarack's uncertain future as the reason for its decision. Originally, the investment group planned to...

SAM Magazine - Aspen, Co., July 15, 2008 - Four years ago, Aspen hosted the first Meeting. The eclectic cast of filmmakers, media types and professional athletes spent the inaugural sessions charting a course for the future: bigger events, more exposure, and riches for all. While not everyone has gotten rich in the ensuing four years, there's n...

SAM Magazine - Vail, Co., July 15, 2008 - Vail Resorts' stock closed $1.23 down on Tuesday after analysts at Bank of America and Thompson Financial downgraded the stock from "buy" to "neutral." The "difficult domestic economic environment" and the threat of softer spending at the top end of the luxury market were cited as concerns. Analysts also ci...