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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--Lakewood, Colo., October 28, 2005--The National Ski Areas Association (NSAA) announced that the Marco Island Marriott in Florida, slated to host the 2006 national convention, incurred minimal damage from Hurricane Wilma. In an ironic twist, the 2006 national trade show and convention had already been moved from New Orleans to Marco Is...

SAM Magazine-Whistler, B.C., Oct. 26, 2005-In an effort to further cement its position as one of North America's top resorts, Intrawest plans to construct a high-capacity gondola nearly three miles long, linking the peaks of Blackcomb and Whistler mountains, according to a report in Canada's The Globe and Mail. The C$50 million project will link...

SAM Magazine-McLean, Va., Oct. 25, 2005-Jim Weinstein, 101, one of the original founders of the trade organization that became SIA and for four decades the organization's corporate counsel, died Oct. 20 in Woodstock, Vt. Weinstein teamed with client Lew Russfield, owner of Sun Valley Skiwear, to help organize the National Ski Equipment and Cloth...

SAM Magazine-Windham, N.Y., Oct. 24, 2005-Snow Time, Inc., owner of Ski Roundtop, Liberty Mountain Resort and Whitetail Mountain Resort in Pennsylvania, is selling Windham Mountain to a group of local investors, including Windham president Dan Frank. Terms of the deal were not disclosed. The investors include Dick Jordan, a local developer, and ...

SAM Magazine-Vancouver, B.C., Oct. 19, 2005-Gary Raymond, the head of Intrawest Placemaking (read: real estate development) who has played a significant role in building Intrawest's resort villages, is resigning from the company later this year to pursue other business interests. Placemaking CFO Drew Stotesbury will serve as interim head of the div...

SAM Magazine-Glenwood Springs, Colo., Oct. 13, 2005-Sunlight Mountain Resort, 10 miles southwest of Glenwood Springs, Colo., is for sale for $50 million, according to Richard Schafstall, president and CEO. The sale includes the U.S. Forest Service permit for the 2,081 acres (including 67 trails and 470 acres of skiable terrain), four lifts, a ba...

SAM Magazine-Bakerville, Colo., Oct. 13, 2005- Mid-winter conditions arrived last weekend in Colorado, allowing Loveland Ski Area, situated atop the Continental Divide, to open for the 2005-06 ski season on Friday, Oct. 14. Loveland will be the first resort in North America to open for the sixth year in a row. The area will offer skiing and riding ...

SAM Magazine--Granby, Que., October 12, 2005--After just over a year under the Camoplast umbrella, the grooming division, which includes the BR 350 and the BR 180, will be bought by Prinoth, which is part of the Leitner Group. As of November 7, Prinoth will be in charge of design, engineering, R&D, service, parts and sales, while Camoplast will ...

SAM Magazine--Salt Lake City, Utah, October 10, 2005--The executive board of Ski Utah/Utah Ski and Snowboard Association announced that it will name Nathan Rafferty the new president of the organization. Rafferty replaces Kip Pitou who was let go in early September. Rafferty has been with Ski Utah since 1994, most recently as the director of com...

SAM Magazine-Mammoth Mountain, Calif., Oct. 5 2005-Starwood Capital Group Global, L.L.C. is taking a majority interest in Mammoth Mountain. The transaction values Mammoth at $365 million. Rusty Gregory will retain his position as chairman and CEO of Mammoth Mountain, and will continue to own a substantial stake in the company. Intrawest will also ...

SAM Magazine--Park City, Utah, October 5, 2005--Last week, American Skiing Company announced the promotion of Stan Hansen to senior vice president of real estate. Until now, Hansen was the president and managing director of ASC's Mount Snow resort in Vermont. In his new position, Hansen will have the responsibility for the planning and executio...

September 27, 2005, From World Snow News--In a new brochure, Vail Ski Area in Colorado is claiming that it contains more pisted runs than any other ski area in the world. It is currently unclear whether the claim refers to the length of piste, the area of piste or possibly to the amount of terrain groomed each night. Whistler Blackcomb in Cana...

SAM Magazine-Ishpeming, Mich., Sept. 26, 2005-Three ski-area legends lead this year's group of inductees for the U.S. National Ski Hall of Fame: David D. R. (Darcy) Brown, long-serving president of Aspen Resorts Corporation in Colorado; Walter Foeger, who developed Vermont's Jay Peak Ski Resort; and Erich Sailer, one of American's top race coaches,...

SAM Magazine--Lakewood, Colo., September 15, 2005--The National Ski Areas Association (NSAA) announced today that it would be moving its 2006 national trade show and convention from New Orleans to Marco Island, Fla. Thanks to the destruction of Hurricane Katrina, the fate of New Orleans and its ability to host business conventions is in doubt, prom...

SAM Magazine--Running Springs, Calif., September 15, 2005--In the race of the firsts, Snow Valley, Calif., fired up its snowguns at 2:30 a.m. on September 12, becoming the first ski area to make snow. While the snowmaking was fired up for testing purposes, marketing manager Kevin Somes took the opportunity to make a few turns. Snow Valley also p...