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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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Montezuma A Go At A-Basin

SAM Magazine-Arapahoe Basin, Colo., Mar. 20, 2007-Not much has changed at Colorado's Arapahoe Basin since the resort opened in 1946. A few runs cut, some new lifts, a revamped base lodge. But the Basin is about to become a lot bigger. Last week the resort received approval for a 400-acre expansion that will substantially improve the intermediate te...

Express Chair to Replace Vail's Chair 10

SAM Magazine -Vail, Colo., Mar. 20, 2007-As local bumpers will no doubt lament, Vail Resorts is replacing yet another vestige of the past, Vail's fixed-grip Chair 10, with a high-speed quad this summer. The new lift will provide a faster way to reach China Bowl and thus increase traffic in what has been a mogul skier's paradise. The old chair, w...

Vail Resorts Announces Strong Second Quarter Results

SAM Magazine - Broomfield, CO, March 13, 2007 - Vail Resorts has posed a strong second quarter, with a 23% gain in net income and a 21% increase per earnings per diluted share over their 2006 numbers. The company racked up a second quarter net income of $53.0 million ($1.35 per diluted share) to post those gains. "We are very pleased with our...

Las Vegas Ski And Snowboard Resort Feels The Heat: Warm Temps Force Temporary Closure

SAM Magazine - Lee Canyon, NV, March 14, 2007 - Las Vegas Ski and Snowboard Resort has announced that the mountain will be temporary closed as of Sunday, March 18 due to record high temperatures and a below average snowpack. The small resort, which features three chairlifts and is a mere 45 minutes from the strip is a Las Vegas anomaly. Situa...

Colorado Skier Visits Could Break Record

SAM Magazine - Denver, Co., March 14, 2007 - Colorado Ski Country USA has announced that statewide skier visits are on pace to meet or exceed last winter's record breaking year. Last season, Colorado's resorts set an all-time record for visitation with more than 12.53 million skier visits, representing more than 21 percent of the nation's 58.9 mi...

Sella Ronda Rolls The Dice: Mountain Commits to Opening Dates Three Years in Advance

SAM Magazine, Sella Ronda, Italy, March 12, 2007 - It's a bet that most ski areas would shy away from: guarantee your opening and closing dates for the next three years. Even with snowmaking, most Eastern resorts in North America missed scheduled opening dates this year, and while Rocky Mountain resorts like Vail have announced that they are extend...

Snow Park Technologies Goes Down Under

SAM Magazine - Queenstown, New Zealand, March 12, 2007 - American park and pipe jauggernaught Snow Park Technologies has been tapped to redesign the park and pipe offerings at New Zealand's The Remarkables resort. The company, which became a wholly owned subsidiary of Booth Creek Ski Holdings in 2003, is one of the premiere park builders and co...

Ragged Gets Reprieve

SAM Magazine - Ragged Mountain, NH, March 11, 2007 - With Bankruptcy looming, the owners of Ragged Mountain, NH got a some breathing room as the seek to sell the resort. The mountain, owned by Al and Walter Endriunas was on the brink of filing for Bankruptcy last week after defaulting on a $4.75 million loan from Endeavor Financial Services LLC las...

American Skiing Looks at Selling Maine Resorts

SAM Magazine--Park City, Utah, March 7, 2007--American Skiing Company (ASC), today announced that its Board of Directors has authorized the Company to conduct a strategic review of options for its Sunday River and Sugarloaf resorts, both in Maine, including the potential sale of the resorts. "As a result of our recently announced resort sales, w...

American Skiing Looks at Selling Maine Resorts

SAM Magazine--Park City, Utah, March 7, 2007--American Skiing Company (ASC), today announced that its Board of Directors has authorized the Company to conduct a strategic review of options for its Sunday River and Sugarloaf resorts, both in Maine, including the potential sale of the resorts. "As a result of our recently announced resort sales, w...

Local Warming: First Heated Chairlift Starts Operations

SAM Magazine-Trysil, Norway, Mar. 6, 2007-It sounds like something you'd expect one of those private "members only" ski resorts to install: a heated chairlift so the moneyed set doesn't have to endure the indignity of a cold bum. And it's certainly not the kind of "improvement" you'd find at most major North American resorts, as they review their e...

Southern Hemisphere Resorts Start Gearing Up For Winter

SAM Magazine-Queenstown, New Zealand, Mar. 6, 2007-While the ski season heads toward its conclusion in North America and Europe after a wild winter that saw deep snows come late to the Eastern region, epic snowfall in the Pacific Northwest and a rough season for Europe, resorts in the Southern Hemisphere are dusting off the summer blues and finaliz...

Vail Announces $1 Billion Green Project

SAM Magazine-Broomfield, Colo., Mar. 5, 2007-Vail Resorts is planning one of the most ambitious "green" development projects in the North American resort industry, to be called "Ever Vail." The $1 billion project will transform the 9.5-acre West LionsHead site into a green multi-use resort village consisting of residences, a hotel, offices, retail ...

ASC, Intrawest Complete Steamboat Sale

SAM Magazine-Park City, Utah, Mar. 1, 2007-American Skiing Company (ASC) and Intrawest completed the sale of Steamboat Ski & Resort Corporation today. Purchase price at the time the deal was announced in December was $265 million. But after preliminary adjustments for working capital and debt assumed by the buyer, and income realized by ASC from th...

Skiing Continues to Grow In China

SAM Magazine-Bejing, China, Mar. 1, 2007-Asia is seeing a boom in skiing that could provide opportunities for European and North American resort companies and equipment manufacturers. In the last decade, more 300 ski areas have opened in China, complemented by three indoor ski centers. The majority of the areas are very basic: a run or two, served ...