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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-Broomfield, Colo., Mar. 10, 2008-Poor early-season conditions and a decline in real estate income led to a three percent drop in Vail Resort's net income in the fiscal second quarter, which ended Jan. 31. The company reported net income of $51.3 million compared with prior year net income of $53 million. The company's flagship resor...

SAM Magazine--March 6, 2008--Woodbury, CT--Deadline Nears for the SAMMY and Diversity Leadership Awards 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 month, March 31st, 2008. Nominees for the SAMMY Leadership Awa...

SAM Magazine-Telluride, Colo., Mar. 3, 2008-Telluride has opened Palmyra Peak for the first time in the resort's history. The new hike-to terrain comprises more than 200 acres and nearly 2,000 vertical feet of north facing expert only skiing off of the 13,320 foot peak. The mountain, which towers above Black Iron and Prospect Bowls, was form...

SAM Magazine-Wolf Creek, Colo., March 3, 2008-Colorado Ski resort Wolf Creek has joined Monarch Ski Area in extending its season. The southern Colorado mountain has more than 41 feet of snow, and has announced that it will remain open through April 27. Daily operations will run through April 13, with the ski area firing up the lifts for two more ad...

SAM Magazine-Newry, Maine, Mar. 3, 2008-Loon Mountain, Sunday River and Sugarloaf, all managed by Boyne USA, are offering a three-area New England Pass for the 2008-09 winter season. The New England Pass goes on sale Mar. 7 and offers $50 bonus savings to holders of the three resorts' current multi-area passes, the Threedom Pass (Loon) and Maine Pa...

SAM Magazine-Vancouver, B.C., Feb. 28, 2008-Intrawest has appointed Paul Jorgensen president and CEO at Mountain Creek in New Jersey. Jorgensen will be responsible for all aspects of Mountain Creek resort operations, including real estate development and sales, and will report directly to Alex Wasilov, CEO of Intrawest. In this move, Jorgensen repl...

SAM Magazine-Minturn, Colo., Feb. 28, 2008-A major new ski area development proposed by the Ginn Company took a big step forward with the unanimous approval of the plans by the Minturn Town Council. The Council approved both the annexation of the proposed development to the town and gave preliminary approval to the project. A second vote later ...

SAM Magazine-Reno, Nev., Feb. 28, 2008-Kassbohrer Gelandefahrzeug AG, the parent company of Kassbohrer All Terrain Vehicles, Inc. has agreed to purchase Formatic, formerly Hydrolink Oy Ab, a Finnish manufacturer of snow grooming vehicles. Kassbohrer's global sales and service organization will formally take control on June 2, 2008. Hydrolink Oy ...

SAM Magazine-Boulder, Colo., Feb. 28, 200-Smith Travel Research, Inc. (STR) has acquired Boulder-based RRC Associates. The combination, according to STR head Randy Smith, substantially extends the range of professional and strategic services now offered under the STR umbrella. "We are very excited about the incredible opportunities to assist our ex...

SAM Magazine-Bretton Woods, N.H., Feb. 27, 2008-The 2008-09 Threedom Pass will subtract Loon Mountain and add Bretton Woods to original member areas Waterville Valley and Cranmore. The new lineup gives skiers and riders access to 195 trails, 12 terrain parks, and 893 acres serviced by 28 lifts. The pass goes on sale at all three areas on Mar...

SAM Magazine-Champion, Pa., Feb. 27, 2008-After years of rumored introduction, the Japanese-built Ohara DF357 snowcat has finally made it to the U.S. PBL Enterprises Inc. has put the first demo machine through its initial test runs in Colorado, and the machine is poised to make its official debut at Seven Springs Mountain Resort tonight, according ...

SAM Magazine-Burlington, Vt., Feb. 27, 2008-Snowfall totals in Vermont and Colorado continued on a record-setting pace in February, as a seemingly unending series of storms has hit many resort regions across the country. This month's storms have already shattered a 50-year-old record in Vermont. In Colorado, several resorts have set new year-to-dat...

SAM Magazine-Weathersfield, Vt. Feb. 24, 2008-Internationally recognized ski and travel journalist Paul Robbins, a wordsmith and historian for the U.S. Ski Team for 30 years and, among other accomplishments, a longtime SAM contributor, died Saturday of an apparent heart attack at his home in Vermont. Robbins, whose wit, humor and vast knowledge was...

SAM Magazine-Whistler, B.C., Feb. 22, 2008-Lindsey Vonn, Vail, Colo., became the second U.S. woman to win a World Cup downhill title, as her second-place finish in the race here today clinched the DH championship. She finished one-hundredth of a second behind Swiss Nadia Styger. To complete a banner day on the 2010 Olympics track, team member Julia...

SAM Magazine-Tamarack, Idaho, Feb. 22, 2008-The majority owners of Tamarack Resort have filed for Chapter 11 bankruptcy protection after the group failed to obtain an $118 million loan, which made it impossible to meet payment on an existing loan of $262 million from Credit Suisse. In all, the group owes more than $300 million to its lenders. Bo...