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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-Denver, Jan. 11, 2008-Winter Park Resort is teaming with the city of Denver and the Denver Parks and Recreation Department for the second straight year to create the Ruby Hill Rail Yard, a free urban ski and ride terrain park located just outside of downtown Denver in Ruby Hill Park. Ruby Hill features six rails of varying configuratio...

SAM Magazine - Arapahoe Basin, Co., January 9, 2008 - One of Colorado's smallest ski areas is poised to nearly double in size with the opening of Arapahoe Basin's Montezuma Bowl on January 11. The expansion will increase the ski area's terrain by 80 percent, with an additional 400 acres. The expansion is the largest in the nation for the 2007-2008 ...

SnowHunter--UK, January 9, 2008-- A new study commissioned by travel insurance company InsureandGo has found that 11% of people have skied whilst drunk. Around 9% of people said they had skied whilst slightly tipsy, two percent whilst, "moderately drunk" and one percent whilst "very drunk." Perry Wilson, managing director of InsureandGo said: "Be...

SnowHunter--UK, January 9, 2007-- The Compagnie des Alpes Group (CDA), the world's largest ski lift operator by visitor numbers and the operator of 18 of the leading ski resorts in France and some other countries, has announced consolidated revenue of 505.7million Euros represented a 4.3% increase within comparable consolidated structure. Ski are...

SnowHunter--UK, January 9, 2008--Russian President Vladimir Putin officially opened a new ski area at Krasnaya Polyana in Russia on January 2nd, less than two weeks after the new Revelstoke resort opened in British Columbia. The new ski area on Psekhako Ridge, 1,436m up, initially operates with 18 trails totaling 14km long and six lifts including...

SAM Magazine--Broomfield, Colo., January 8, 2008--Vail Resorts, Inc., announced today that Bill Jensen is leaving his position as president of the company's mountain division and COO of Vail to become CEO of Intrawest, effective June 1, 2008. Moving in to take over his responsbilities on January 31, 2008, are Beaver Creek's John Garnsey and Heav...

SAM Magazine - Breckenridge, Co., - The National Brotherhood of Skiers (NBS), one of the largest winter sports organizations in the United States, will hold the group's 2008 Annual Meeting and Challenge Cup (AMCC) at Colorado's Breckenridge from January 12-19. The AMCC is the NBS biennial convention and fundraiser, which is expected to bring mo...

SAM Magazine - Revelstoke, B.C. - The next big thing in Canadian skiing fired up the lifts last week. Revelstoke is now on line and operating, with five feet of snow; 4,735 vertical feet of lift-serviced terrain; 1,500 acres of skiing; and 27 new ski runs serviced by a $22 million Leitner Poma eight-person gondola and a high-speed quad chairlift. ...

SAM Magazine - The Canyons, Ut., December 26, 2007 - An in-bounds avalanche at The Canyons on December 23 has left one man dead and a child critically injured. The incident, which took place in the Red Pines Chutes area off the ski area's Ninety-Nine 90 lift, took the life of a 30-year-old man from Colorado and injured an 11-year-old boy. The Ca...

SAM Magazine - Vail, Co., December 21, 2007 - It's official. The most expensive adult daily lift ticket is $92 and it's at Vail. The resort reached the benchmark this week, edging out nearby Aspen ($87) and Deer Valley, Utah ($81). Last year an adult single day lift ticket cost $85 While it appears that the days of $100 daily lift tickets aren't...

SAM Magazine - Sugar Bowl, Ca., December 21, 2007 - With storms pounding ski areas from Utah to New Hampshire, the only part of the country yet to see substantial accumulations of snowfall is starting to catch up. Ski areas in the Sierra and Lake Tahoe areas have seen substantial accumulations over the past week. Alpine Meadows is reporting thr...

SAM Magazine - Denver, Co., December 20, 2007 - Three years of early season sales gains have come to an end, reports SIA in their first retail audit of the season. The industry group's audit shows a total of $468 million in sales for the August to October period. Specialty retailers suffered a 7 percent drop from the previous year, clocking in at $...

SAM Magazine - Taos, NM., December 14, 2007 - Burton can take one of four areas off its poaching list-Taos' management has decided to reverse a long-standing ban on snowboarding, effective March 19. "While there are many reasons why we have chosen this season to make such a significant change to our company's policy the foremost factor is we fee...

SAM Magazine - Broomfield, Co., December 12, 2007 -Vail Resorts has reported a net loss of $24.6 million (63 cents per share) in the first quarter of 2008. The amount is less than in 2007, when the company reported a loss $35.8 million during the same period. "Our fiscal first quarter is a seasonally low earnings period and historically a loss q...

SAM Magazine - VAIL, Co., December 11, 2007 -Vail's SOS Outreach, formerly known as the Snowboard Outreach Society, has been named by Vail Resorts to be the administrator of the ski company's Diversity Program. The Diversity program is spearheaded by Vail Resorts to introduce Denver and surrounding residents to the mountains. The announcement by Va...