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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-Crested Butte, Colo., July 15, 2008-Crested Butte Mountain Resort (CBMR) hired Chris Corliss, formerly mountain manager at Mount Sunapee, N.H., as mountain manager. The resort has been conducting a nationwide search since May to fill several top executive positions in the company, and kept within the ranks of Triple Peaks (owned by Tim...

SAM Magazine - Kirkwood, Ca., July 17, 2008 - Kirkwood ski resort is partnering with its utility provider, Mountain Utilities, to build a 20-turbine wind energy farm for the resort and local residents. "Our goal is for Kirkwood to become the renewable energy leader in the ski resort industry," said Tim Cohee, Chief Marketing Officer of Mountai...

SAM Magazine-Crested Butte, Colo., July 14, 2008-Crested Butte will have enhanced air service next season, with new direct flights from Salt Lake City, Chicago and Atlanta via Delta and American Airlines. In addition, American will continue to offer daily, non-stop flights from Dallas/Forth Worth, and United will offer three daily, non-stop flights...

SAM Magazine-Rossland, B.C., July 14, 2008-Red Mountain will spend approximately $1 million on capital improvements this summer. Upgrades include a comprehensive lift-service audit that features upgrades to chairlift components on Red's Motherlode, Paradise and Red chairlifts to ensure maximum reliability for the upcoming season. According to R...

SAM Magazine-Boulder, Colo., July 14, 2008-U.S. Rep Mark Udall has developed a draft bill to update the federal 1986 Ski Area Permit Act. The bill would expand the act to recognize winter sports beyond alpine and nordic skiing and include summer recreational activities such as mountain biking and concerts. "My bill would make it clear that activ...

SAM Magazine-Ascutney, Vt., July 14, 2008-Orange Lake Resorts has acquired 26 villas at Ascutney Mountain Resort and assumed management responsibilities for the condo hotel, fitness center, and food and beverage at the resort. Ascutney remains responsible for mountain operations, marketing, and future resort development. Financial terms of the deal...

Snow Hunter-Chile, July 8, 2008-Llaima ski area in Chile's Conguillio National Park was evacuated last week as the Llaima Volcano on which the ski area is located spewed out lava flows up to two kilometres long above the ski runs and lifts. The 3,125 metre high volcano is 78km (49 miles) from regional capital Temuco and 700km (435 miles) sout...

Snow Hunter-New Zealand, July 8, 2008-Most of New Zealand's ski areas are basking in deep powder as heavy snowfall and some extreme weather conditions forced some resorts to close temporarily until the storm passed. Cardrona was typical reporting 60 cm (two feet) of natural snow falling over the three days to Saturday but with high winds and poor v...

Snow Hunter-Russia, July 8, 2008-Russia's former president Vladimir Putin, a keen skier and personally instrumental in winning the 2014 Olympics for the Black Sea resort of Sochi, is reported to have bowed to growing pressure from environmental campaigners regarding the location of some of the venues for the Games. The ski area borders a national p...

Snow Hunter-Australia, July 8, 2008- The first week of July has seen the 'real' start of winter at many Australian resorts after poor natural snowfall in June. Mount Hotham has reported 29cm (12 inches) of snow in the past week, with an additional 13cm (seven inches) in the past 24hrs, enough to open Heavenly Valley for skiing and riding tomorrow...

SAM Magazine-Bozeman, Mont., July 9, 2008-Founder Tim Blixseth has agreed to transfer his 50 percent interest in the private Yellowstone Club ski and golf resort in Montana to his wife, Edra, as part of an impending divorce settlement, according to the Wall Street Journal. This will give Edra full ownership of the resort. Neither of the Blixeths ar...

SAM Magazine-Seven Springs, Pa., July 8, 2008-Seven Springs Mountain Resort has appointed Eric Mauck as its new CEO. Mauck, formerly the resort's COO, replaces Scott Bender, who stepped down from the position after 25 years to lead the management team at Hidden Valley, Pa. Mauck's appointment will ensure a smooth leadership transition, said Seve...

SAM Magazine-Boulder, Colo., July 7, 2008-Skiing and Ski magazines, both from Bonnier Corp., are reducing their rate bases, starting with their September issues. Skiing will move from a rate base of 400,000 to 300,000, and Ski is going from 450,000 to 400,000. The circulation reductions will accomplish two things, according to company executives...

SAM Magazine-Montreal, Que., July 7, 2008-In a bid to jumpstart capital improvements at ski resorts in Quebec, the Canadian government has developed a loan program to enable private ski areas presenting a sound business plan for modernization and equipment replacement projects to access loans up to $4 million, repayable over a maximum period of 15 ...

SAM Magazine-Jay, Vt., July 1, 2008-After nearly 25 years of leading Jay Peak as president and CEO, Bill Stenger, along with a group of private investors, has purchased Jay Peak from Mont Saint Sauver International (MSSI). Stenger has been working on the sale and transition since last fall. MSSI owns and operates several Canadian-based resorts and ...