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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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Booth Creek Sweetens Threedom Pass Benefits

SAM Magazine--North Conway, N.H., Aug. 4, 2004--The Threedom Pass, good at Booth Creek areas Cranmore, Loon, and Waterville Valley, offers increased benefits and options for the coming season. Unrestricted passes include college and youth passes ($199), teen passes ($249) and adult passes ($459). An adult pass with holiday blackout dates costs $319...

Vail Resorts Sale Off?

SAM Magazine--Vail, Colo., August 4, 2004--Vail Resorts' quest to find a buyer has been put on hold, according to a story in the Denver Post and other sources. According to reports, the investment firm of KKR withdrew its bid, and the offer from Texas Pacific Group was well below VR's asking price. Nobody from the companies involved has commente...

Bombardier Purchased by Track Supplier

SAM Magazine--Sherbrooke, Que., Aug. 3, 2004--Bombardier Recreational Products Inc. is selling its industrial vehicle division, including snow groomers, to Quebec component-maker Camoplast Inc., which produces rubber tracks and components for groomers and other heavy-duty tracked vehicles. Terms of the transaction were not released. The sale is exp...

Two Finalists Vie for Vail Resorts

Vail, Colo., July 30, 2004--Two large buyout firms are finalists in the possible sale of Vail Resorts, according to a report in the Denver Post. Sources have told the paper that Texas Pacific Group and Henry Kravis, a principal in New York investment firm Kohlberg Kravis Roberts (KKR), both submitted proposals this week. Sources said that VR's b...

SIA Joins VERB Fitness Campaign

SAM Magazine--McLean, Va., July 27, 2004--SnowSports Industries America (SIA) has joined the VERB campaign, a program of the Centers for Disease Control and Prevention (CDC) focused on motivating kids ages 9 to 13 to get more physically active. VERB is a comprehensive, multicultural campaign that reaches out via kid-cool advertising, promotion a...

Giant Future US Snowdome Launches Website

July 29, New Jersey (SnowHunter)--The joint developers of the $1.3 billion Xanadu project in New Jersey, Mills Corp. and Mack-Cali, have launched a website atYÂ¥ www.meadowlandsxanadu.com to showcase their plans. Xanadu would comprise five themed 'districts' over the 104-acre Continental Arena site.YÂ¥ The entertainment district will be the ...

OLN to Broadcast USSA Ski, Snowboard Events

SAM Magazine--Park City, Utah, July 21, 2004--OLN will broadcast 22 hours of original ski and snowboard event programming annually, with multiple re-airings, according to terms of a multi-year agreement between the sports channel and the U.S. Ski and Snowboard Association (USSA). OLN is in 59 million homes and televises events such as the Tour de F...

Vail Commits $600,000 to Diversity Program

SAM Magazine--Vail, Colo., July 21, 2004--Vail Resorts has committed approximately $600,000 in cash and in-kind contributions to the Alpino 10,000 Project, which aims to introduce 10,000 Denver-area youth to snowsports in Colorado over the next two years. For each of the 2004-05 and 2005-06 seasons, Vail will contribute $5,000 a year to the Alpi...

Ski Areas Measure Environmental Conservation for 2003

SAM Magazine--Lakewood, Colo., July 15, 2004--The ski industry has made substantial progress in its efforts to reduce environmental impacts, according to the Sustainable Slopes Annual Report prepared by the National Ski Areas Association (NSAA). The report is based on information from 62 resorts representing 19 states and three Canadian provinces. ...

Summit County Denies Copper Plan

SAM Magazine--Copper Mountain, Colo., July 13, 2004--Summit County Commissioners have denied Intrawest's long-term development plan for doubling the size of Copper Mountain after a three-year planning process. Intrawest was seeking land-use approval for 1,155 additional residential units at Copper, beyond the 500 remaining units in its current p...

ASC Expands Discount Pass Offer

SAM Magazine--Park City, Utah, July 13, 2004--In a move that entrenches discounted season's passes in the Northeast, American Skiing Co. (ASC) is introducing an All for One Pass valid at the company's six Eastern resorts, at prices ranging from $349 to $599. The passes are based on a similar offer introduced last winter at Attitash Bear Peak and Su...

Gray Rocks to Close for Winter

SAM Magazine--Mont Tremblant, Que., July 13, 2004--Gray Rocks Inn and ski area will close its doors on Oct. 10, marking the first time in a nearly a century that the Gray Rocks Inn will close for the winter and shuttering one of the pioneering ski areas of the region. Owner Phillip Robinson blamed the extreme cold and the general tourism slump f...

ASC Pays Triple Peaks $5.1 Million to Settle Suit

SAM Magazine--Ludlow, Vt., July 13, 2004--American Skiing Company (ASC) will pay $5.1 million to settle its lawsuit with Triple Peaks, LLC, stemming from ASC's last-minute termination of the proposed sale of the Steamboat Ski Resort to Triple Peaks in 2001. In return, Triple Peaks has agreed to a full dismissal of all claims relating to the sale. ...

Is Vail for Sale

SAM Magazine--Vail, Colo., July 9, 2004--Vail Resorts has been actively seeking a buyer for some or all of its assets, according to reports in the Denver Post and the Vail Daily, based on several unofficial sources in Vail valley. Speculation about a possible sale has also been fueled by a recent runup in the price of Vail stock (currently about $1...

Intrawest, A&K to Market Luxury Adventures

SAM Magazine--Vancouver, B.C., July 7, 2004--Intrawest has acquired an equity interest in the Abercrombie & Kent Group (A&K), a leading luxury adventure-travel company. The companies will offer a range of high-end travel, leisure and vacation experiences at destinations around the globe. Terms of the transaction were not disclosed. Abercrombie &...