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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—Copper Mountain, Colo., Nov. 11, 2016—In another partnership between two unaffiliated resorts, Powder Mountain in Utah and Copper Mountain in Colorado are offering three free days of lift access to each other’s season passholders. This reciprocal benefit comes at no extra cost.

SAM Magazine—Salt Lake City, Utah, Nov. 11, 2016—The retail buying shows, which have gone through some schedule changes lately, are poised for more. The Outdoor Retailer (OR) winter and summer shows will move to new dates in 2018, and each show will split into “early” and “late” shows.

Welcome to the November edition of Snow People, our monthly roundup of happenings to prominent ski industry and supplier personnel.

SAM Magazine—Dover, Vt., Nov. 9, 2016—At the beginning of this week, nearly ten more North American ski areas—from Alberta, Canada, to New Mexico—had planned to open for the season on Thursday, Friday, or Saturday. Now, only two remain—Loveland, Colo., and Mammoth, Calif.

SAM Magazine—Dover, Vt., Nov. 4, 2016—When Arapahoe Basin opened for the season on Oct. 21, it was cold and snowy in many parts of the country. It seems that more ski areas were bound to also open shortly after. Right? Not if Ma Nature had anything to say about it. Which she did.

SAM Magazine—Seattle, Wash., Nov. 3, 2016—For the last few months, political advertisements have flooded the media, taking up most of the advertising inventory at premium rates. An unusual victim of this ad frenzy was the Ski Dazzle Seattle Ski and Snowboard Show, which was cancelled because the promoters couldn’t afford spots on TV, radio, and in newspapers. The event was scheduled for Nov. 5 and 6.

SAM Magazine—Kansas City, Mo., Nov. 3, 2016—CNL Lifestyle Properties has entered into a purchase and sale agreement for its portfolio of waterparks, amusement parks and small family entertainment centers, along with its 15 ski resorts.

SAM Magazine—Wildwood, Mo., Nov. 3, 2016—Peak Resorts, has completed its previously announced private placement of its Series A cumulative convertible preferred stock and warrants to purchase common stock to CAP 1 LLC, a family client of Summer Road LLC.

SAM Magazine—Rangeley, Maine, Oct. 27, 2016—The ongoing ownership conundrum of Saddleback Mountain, Maine’s third-largest ski area, could be coming to an end. A group of local business owners and Saddleback season passholders have formed Saddleback Community Mountain Resort LLC, with the intention of purchasing the ski area from the Berry family and turn it into a community owned non-profit enterprise.

SAM Magazine—Waterville Valley, N.H., Oct. 27, 2016—The affordable housing crisis in western resort towns has been well documented, but resorts in the East aren’t immune to the issue. To combat what has been “a long-standing challenge,” Waterville Valley, N.H., partnered with General Properties, LLC, to invest in a property, The Snow Star Inn, which will provide workforce housing.

SAM Magazine—Killington, Vt., Oct. 25, 2016—Killington opened for the 2016-17 winter season today at noon, kicking things off in the East. Today was just for Killington season passholders; the resort plans to open to the general public at 9 a.m. Wednesday.

SAM Magazine—Kellogg, Idaho, Oct. 24, 2016—Idaho ski areas are a hot commodity for individual business owners as of late. Less than a month after Shay Butler purchased Pebble Creek Ski Area in Inkolm, Seattle-area businessman Tryg Fortun bought Silver Mountain for $5 million from Jeld-Wen Holdings.

SAM Magazine— Girdwood, Alaska, Oct. 24, 2016—After seven years as Alyeska Resort’s mountain services manager, Brian Burnett has been promoted to ski area general manager. His new responsibilities include general oversight of ski patrol, snow safety, lift crews, tram operations, mountain maintenance projects, mountain learning center, rentals, mountainside budgeting, CIP management, and guest relations.

SAM Magazine—York, Pa., Oct. 19, 2016— Snow Time Inc., the parent company of Pennsylvania’s Roundtop Mountain Resort, Liberty Mountain Resort, and Whitetail Resort, has made several key staffing changes.

SAM Magazine—Summit County, Colo., Oct. 19, 2016—Thanks to snowmaking efforts that began on Oct. 3, Arapahoe Basin now plans to open for skiing and snowboarding on Friday, Oct. 21.

SAM Magazine—Burlington, Vt., Oct. 18, 2016—In a blow to the status of the SIA Snow Show in Denver, Jan. 26-29, 2017, Burton has said it will not exhibit at the show. Burton had vastly reduced its presence two years ago, but is now exiting the show altogether.

SAM Magazine—Park City, Utah, Oct. 18, 2016—In an effort to solidify its identity, Powdr has undergone a company-wide rebrand that spotlights its transformation into an experiential adventure lifestyle organization with a diverse portfolio.

SAM Magazine—Whistler, B.C., Oct. 18, 2016—Vail Resorts has officially closed on its billion dollar acquisition of Whistler Blackcomb, which is now the tenth destination resort in the company’s portfolio. Both entities are coming off of their most successful winter ever in 2015-16, when each drew record skier visits and saw double-digit revenue growth.

SAM Magazine—Durango, Colo., Oct. 18, 2016—Less than a month after acquiring Hesperus, one of Colorado’s smallest ski areas, James Coleman has acquired the state’s largest snowcat skiing operation with access to more than 35,000 acres of permitted terrain located just outside of Purgatory Resort near Durango. Coleman is the managing partner of a group that owns Purgatory, Sipapu Ski and Summer Resort, N.M., Pajarito Ski Area, N.M., Arizona Snowbowl, Ariz., and Hesperus.

SAM Magazine—Denver, Oct. 17, 2016—The month of September continued the strong gains in aggregated occupancy and revenue that western mountain lodging destinations have seen all summer. Actual occupancy for the month was up 10.4 percent and revenues jumped 19.6 percent as of Sept. 30, according to the most recent report by DestiMetrics. This has been the story all summer, with aggregated occupancy for the season up 6.5 percent and revenues up 14 percent, including on-the-books figures for October.

Welcome to the October edition of Snow People, our monthly roundup of happenings to prominent ski industry and supplier personnel.

SAM Magazine—Denver, Oct. 17, 2016—The six properties owned by Resorts of the Canadian Rockies— Nakiska in Alberta, Fernie, Kimberley, and Kicking Horse in B.C., and Mont-Sainte-Anne and Stoneham in Quebec—are now accessible to M.A.X. Pass-holders. That brings the total number of resorts on the pass to 38.

SAM Magazine—Boswell, Pa., Oct. 14, 2016—For the first time in 11 years, Laurel Mountain in Pennsylvania will open for skiing and riding this winter. Thanks to a $6.5 million grant from the state Department of Conservation and Natural Resources in 2010, several necessary upgrades to the resort’s infrastructure are nearing completion.

SAM Magazine—Donnelly, Idaho, Oct. 14, 2016—Less than a week before a scheduled auction that would have sold off several of Tamarack Resort’s critical assets necessary for operations, including chairlifts and an unfinished mid-mountain lodge, a group of local homeowners swooped in and acquired “substantially all of the assets of NewTrac,” which owned a bulk of the property at the resort.

SAM Magazine—Denver, Oct. 6, 2016—In the aftermath of a chairlift incident in West Virginia last February, Outside Magazine’s website has cast a skeptical eye on the lift infrastructure at ski resorts in the U.S. The story, published Oct. 4, puts a spotlight on the age of currently operating lifts and questions their safety, even as it acknowledges that “mechanical lift failures remain exceedingly rare in the United States.”

SAM Magazine—Inkom, Idaho, Oct. 4, 2016—Nobody ever said you have to have ski resort operations experience to own a ski area. The latest example of that is Shay Butler, who is acquiring Pebble Creek Ski Area in Idaho. Butler is the man behind the popular YouTube channel called “Shaytards,” which has nearly five million subscribers.

SAM Magazine—Broomfield, Colo., Oct. 3, 2016—Vail Resorts, Inc. has reported net income of $149.8 million for fiscal 2016, an increase of 30.5 percent compared to fiscal 2015, and EBITDA of $452.6 million, an increase of 29.5 percent. VR expects an even better year in fiscal 2017, as its guidance range is for EBITDA of $480 million and $510 million, excluding results from Whistler Blackcomb. VR revealed its purchase of WB in August.

SAM Magazine—Greenwood, Maine, Oct. 3, 2016—Mt. Abram in western Maine will open six new trails this winter, and each trail will be covered with snowmaking. The new terrain consists of two expert trails, two terrain parks, one race trail, and a short connector trail.

SAM Magazine—Park City, Utah, Oct. 3, 2016—SnowSports Industries America (SIA) has made some big moves as of late—both physically and organizationally. The move from its office outside Washington D.C. to its new home in Park City is complete, and the non-profit trade association recently added four new staff members.

SAM Magazine—Salzburgerland, Austria, Oct. 3, 2016—Zell am See in Austria’s Salzburgerland has built a new lift that will allow it to re-open terrain not used for more than three decades. The lift, the first stage in a two-year plan to (re)connect Zell am See to the Saalbach- Hinterglemm-Fieberbrunn, will make Zell am See part of one of Austria’s largest ski areas.

SAM Magazine—White Haven, Pa., Sept. 29, 2016—Nearly 20 member ski areas are again participating in the Pennsylvania Ski Areas Association First-Time Ski and Snowboard Program, which offers $49 advance-purchase learn-to packages valid any day—including weekends and holidays—during the 2016-17 season. The package includes a beginner lift ticket, beginner group lesson, and rental equipment.

Since April, the news about Vermont’s Jay Peak has been heavily focused on the alleged indiscretions of its two former principals and the ensuing legal situation. What many headline-readers may not realize is that Jay has been operating daily—and business is strong.

SAM Magazine—Durango, Colo., Sept. 23, 2016—The investment group led by James Coleman has acquired Hesperus Ski Area, a small, family-oriented hill located 11 miles outside of Coleman’s hometown of Durango. Hesperus is the fifth ski area in the group’s portfolio, which also includes Purgatory Resort, Colo., Arizona Snowbowl, Ariz., Sipapu Ski & Summer Resort, N.M., and Pajarito Mountain, N.M.

More than 160 summer operations managers, vendors, and schemers gathered at the Canyons Grand Summit in Park City, Utah, to explore the state of the art in summer activities at SAM’s Summer Ops Camp, Sept. 14-16.

SAM Magazine—Snowmass, Colo., Sept. 21, 2016—After several years of uncertainty, the dormant Base Village project at Snowmass is being acquired from Related Companies by a joint venture that includes an affiliate of KSL Capital Partners, LLC, East West Partners, and Aspen Skiing Company. The partnership expects to close on the transaction by the end of 2016.

Welcome to the September edition of Snow People, where we highlight happenings to prominent ski industry and supplier personnel.

You can tell that winter is right around the corner when ski industry operators and suppliers gather at the annual New England Summit. This year’s event attracted nearly 420 ski industry personnel, exhibitors, and speakers at Sunday River in Newry, Maine, Sept. 13-15.

SAM Magazine—Denver, Sept. 19, 2016—Summer business continues its record pace at several western destination mountain lodging properties, according to a recent DestiMetrics report. As of Aug. 31, aggregated occupancy for the six-month summer period from May through October was up 7.3 percent and revenues showed a stellar 14.7 percent increase compared to the same time last year.

Randy MacDonald, managing partner at Windham Mountain Resort, N.Y., died last Friday after a long battle with cancer. Mentor, visionary, leader, loving husband, devoted father and grandfather, Randy leaves behind a rich legacy.

SAM Magazine—Killington, Vt., Sept. 13, 2016—Rich McCoy has been promoted to director of operations at Pico Mountain, Vt., which is owned and operated under Killington’s umbrella. McCoy joined Killington in 1999 and managed the retail operations for several years. He will continue to oversee revenue management of the resort’s mountain bike park and adventure center during the summer months.

SAM Magazine—Bridgton, Maine, Sept. 2, 2016—Ralph Lewis has been named general manager of Shawnee Peak Ski Area. Lewis succeeds long-time GM Edward Rock, who is retiring after 34 years at Shawnee Peak, and who will become a senior advisor through 2017. Lewis will officially start in late September.

SAM Magazine—Broomfield, Colo., Sept. 1, 2016—Vail Resorts’ Epic Pass now includes a few days of skiing at several resorts in Europe. To varying levels and with certain requirements, passholders can now access Les 3 Vallees, Paradiski and Tignes-Val d'Isere in France, Skirama Dolomiti Adamello Brenta in Italy, 4 Vallees in Switzerland, and Arlberg in Austria.

SAM Magazine—Waterville Valley, N.H., Aug. 30, 2016—The Green Peak expansion project, which gained permits in 2013, is finally underway at Waterville Valley in New Hampshire. The resort is cutting 10 new trails that will add 45 skiable acres, served by a new fixed-grip triple that is scheduled to be open for the coming winter season.

About 400 ski area and supplier members attended the 2016 Midwest Ski Areas Association Annual Meeting and Trade Show, Aug. 21-24, at Shanty Creek Resorts in northern Michigan. The event addressed a wide range of issues, from beginner trial and conversion to leadership succession, lift maintenance and safety.

SAM Magazine—Natick, Mass., Aug. 29, 2016—Registration for SAM’s seventh annual Summer Ops Camp—a series of seminars, workshops, and site visits that explore the state of the art in summer operations—closes Sept. 6. A few spots are still available for the Camp, Sept. 14-16 at Park City, Utah.

SAM Magazine—Big Sky, Mont., Aug. 25, 2016—An ambitious, top-to-bottom enhancement project called “Big Sky 2025” with an anticipated price tag of $150 million is underway at Big Sky, Mont.

SAM Magazine—Denver, Aug. 25, 2016— The Winter Park Express will once again ferry skiers and riders round-trip from Denver to Winter Park every mid-winter weekend this season, for the first time in seven years. The ski train was a popular mode of transportation from the city to the resort and back from 1940 to 2009.

SAM Magazine—Wildwood, Mo., Aug. 24, 2016—Peak Resorts has reached an agreement to sell $20 million of its Series A cumulative convertible preferred stock and warrants to purchase common stock to CAP 1 LLC, a family client of Summer Road LLC. Summer Road will also have the right to nominate a person for election to Peak’s board of directors. Peak plans to use the proceeds from this offering for working capital and for future growth, including expansion through acquisition.

SAM Magazine—Rossland, B.C., Canada, Aug. 24, 2016—Red Mountain, the oldest ski resort in Western Canada, is turning to a new funding source: the internet. In what may be an industry first, it is turning to equity crowdfunding.

SAM Magazine—Telluride, Colo., Aug. 24, 2016—In addition to the return of regular commercial flights into Telluride Airport (see earlier report), increased traffic into nearby Montrose will also ease access to Telluride this winter. Montrose is getting new Denver service with the addition of twice-weekly Allegiant Air flights. In addition, the region will see a major jump in service to Montrose on the American Airlines network.

SAM Magazine—Valemount, B.C., Canada, Aug. 17, 2016—The Valemount Glacier Destinations Ltd. master plan for a proposed ski resort on Mount Pierre Elliott Trudeau in interior British Columbia has been approved by the government. The proposed project has gotten tremendous local support, which developers say helped expedite the recent approval.

SAM Magazine—Denver, Aug. 17, 2016—Occupancy figures nearly reaching winter levels during the summer? It’s true. Western mountain destinations participating in DestiMetrics’ tracking program have reported visits and reservations that are expected to eclipse last summer’s record, which reached 92.5 percent of occupancy rates for the winter of 2015-16. This would be the fifth consecutive record summer for aggregated lodging occupancy and revenues at western mountain resorts.

SAM Magazine—Denver, Aug. 17, 2016—Apparently, everybody wants in on the M.A.X. Pass. One of the newest products in the rapidly growing space of season passes that offer access to multiple, mostly unaffiliated properties, M.A.X. is adding 10 more resorts to its roster.

SAM Magazine—Squaw Valley, Calif., Aug. 16, 2016—A controversial $1 billion, 25-year development plan for Squaw Valley cleared a major hurdle after the Placer County Planning Commission approved the plan in a 4-2 vote last week. Now, the plan moves on to the Placer County Board of Supervisors for the final verdict.

SAM Magazine—Londonderry, Vt., Aug. 16, 2016—Magic Mountain, a classic New England ski area that has stuck to its roots—both out of preference and financial limitations—appears to finally have stable ownership taking the reigns.

The August edition of our monthly highlight of happenings to prominent people and suppliers in the mountain resort industry.

SAM Magazine—Telluride, Colo., and Revelstoke, B.C., Canada, Aug. 9, 2016—The collection of destinations accessible via The Mountain Collective just grew to 14, for now, with the addition of Telluride, Colo., and Revelstoke, British Columbia.

SAM Magazine—Denver, Aug. 8, 2016—After filing for bankruptcy in February, Echo Mountain owner Nora Pykkonen appears to have found a buyer for the small ski area just outside of Denver.

SAM Magazine—Broomfield, Colo., Aug. 8, 2016—In revealing its plan to acquire Whistler Blackcomb (see separate report), Vail Resorts (VR) outlined some initial intentions:

SAM Magazine—Broomfield, Colo., and Whistler, British Columbia, Aug. 8, 2016—Vail Resorts (VR) is purchasing Whistler Blackcomb, the largest ski resort in North America. In what the company calls a “strategic business combination,” VR will acquire 100 percent of Whistler Blackcomb stock in a cash and stock deal worth a total of about USD$1.056 billion. The transaction is expected to close in fall of 2016.