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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-Teton Village, Wyo., Sept. 20, 2007-A Swiss crew from Doppelmayr CTEC is in the final stages of dismantling the old Jackson Hole Ski Resort tram. Crews will demolish the lower terminal of the old tram in October, and work on the new terminals will continue through the winter. The project also involves removing the tram's cable and two ...

SAM Magazine-Bethel, Me., Sept. 20, 2007-Sunday River, Sugarloaf, and Loon are offering a new New England Pass, which offers skiing and riding at all three areas. The pass results from the recent addition of Loon to Boyne USA's group of areas in New England. Â The New England Pass comes in three versions. The Bronze Pass ($369 for all ages) ...

SAM Magazine--September 19, 2007--Vail, CO--Booth Creek Ski Holdings, Inc., entered into an agreement with Boyne USA for the sale and transfer of Booth Creek's equity interests in Loon Mountain, N.H., and the Summit-at-Snoqualmie, Wash. Upon closing of the stock transfer, Loon and the Summit will continue to operate the respective resorts under lon...

SAM Magazine-The Canyons, Ut., Sept. 12, 2007-In the latest twist to The Canyons saga, Vail Resorts (VR) has sweetened its offer offer for The Canyons. VR offered an additional 30 percent of the net cash flow that VR makes off any real estate it would get in the deal. According to VR CEO Rob Katz, this could result in earnings of up to $650 million...

SAM Magazine-Park City, Ut., Sept. 12, 2007-American Skiing Company (ASC) has filed a Certificate of Dissolution with the Delaware Secretary of State in accordance with its previously announced plan of complete dissolution and liquidation. The dissolution will become effective as of Sept. 13. Trading of ASC's stock on the OTC Bulletin Board w...

SAM Magazine-Varna, Italy, Sept. 12, 2007-Kaser Srl, manufacturer of belt conveyor lifts, has restructured its North American operations as of Sept. 1, following the retirement of former U.S. general manager Bruno Beinder. Mad River Snow, Inc. is now responsible for sales in the eastern region-which stretches as far west as the Dakotas, Nebraska...

SAM Magazine-Grand Targhee, Wyo., Sept. 11, 2007-Scott Pierpont has been named general manager of Grand Targhee. Pierpont has spent more than 30 years in the the ski industry, and makes the move to Targhee from Utah where he held positions as president and managing director of The Canyons, president of the Park City Chamber of Commerce and chairman...

SAM Magazine-Scheffau, Austria, and Hafjell, Norway, Sept. 11, 2007-Austria's Ski Welt has scored another six-pack, bringing the mega-resort's total to 8. The Ski Welt, which includes Brixen im Thale, Going, Hopfgarten, Itter, Kelchsau and Söll and Westendorf, is Austria's largest lift-linked ski region. With the addition of the new detachable l...

SAM Magazine-Albany, N.Y., Sept. 10, 2007-The State of New York has given the green light to a $400 million project to develop two hotels, 259 lodging units, a conference center, spa and organic golf course upon land adjacent to the state-owned Belleayre Mountain Ski Center. The planned development will feature ski-in/ski-out opportunities and will...

SAM Magazine - Steamboat Springs, Co., September 5, 2007 - Intrawest has included Steamboat into the company's Colorado season pass offerings, allowing passholders to access Winter Park, Copper Mountain and this northern Colorado resort with a single pass. The Rocky Mountain Super Pass Plus gives skiers unlimited access to Copper and Winter Park, a...

SAM Magazine - Somerset, Pa., September, 2007 - The Buncher Company has announced that the organization has finalized the purchase of Hidden Valley Four Seasons Resort. The 1,500 acre resort was formerly owned by the Kettler family who has operated the resort since the early 1980's. Terms were not disclosed. The 1,500-acre ski area features 28 t...

SAM Magazine - Ketchum, Id., September 5, 2007 - The USFS has announced the containment of the Castle Rock fire, which burned nearly 50,000 acres and threatened the ski resort of Sun Valley. According to the USFS, mop up operations and rehabilitation of fire lines will be the primary focus of operations over the next few days. According to the U...

SAM Magazine-Sun Valley, Ida., Aug. 31, 2007-The western side of Sun Valley Ski Resort is under extreme pressure from the Castle Rock Fire, with crews struggling to prevent the unpredictable blaze from torching the ski area itself. The fire, which has kicked up several spot blazes on the resort itself, has also forced the evacuation of several Ketc...

SAM Magazine-Broomfield, Colo., Aug. 30, 2007-Skiers and snowboarders can buy four days at Keystone Resort or Arapahoe Basin for $129 with the 4-Pack pass, on sale through Oct. 14. The 4-Pack is non-transferable and must be purchased in person, and comes with major holiday blackout days-Christmas Martin Luther King, Presidents among them. The 4-Pac...

SAM Magazine-Val Gardena, Italy, Aug. 30, 2007-Val Gardena is replacing a fixed grip triple chair with a new high-speed detachable quad. The new Sole chair will have a capacity of 1,800 people an hour and is one of six being installed in the Dolomiti Superski region this summer. The Sole chair brings the total number of high-speed detachable quads ...