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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., Oct. 11, 2013—The National Ski Areas Association (NSAA) today released its 13th Sustainable Slopes Annual Report detailing the ski industry’s progress in implementing the principles of its Environmental Charter during the 2012-13 season. Among the highlights: • 115 ski areas endorsed the Cl...

SAM Magazine—Washington, D.C., Oct. 11, 2013—The 2013 Women's Snow Sports Market Intelligence Report reveals that 3.3 million women participated in snowsports last season, and made $1 billion in purchases of women-specific gear during the 2012-13 season. The report, a supplement to the full Market Intelligence Report produced by Sno...

SAM Magazine--Tannersville, Pa., October 10, 2013--Spirit Realty Capital, Inc., the real estate investment trust (REIT) that owned Camelback Mountain Resort, announced that it has sold Camelback Mountain Resort for $69.25 million, representing a "significant gain on its original investment," says the press release. The REIT bought the are...

SAM Magazine--October 8, 2013--In a survey released last week by PhoCusWright, a New York based travel industry research group, and sponsored by Mountain Travel Symposium (MTS), the current data available on the travel behavior of skiers and snowboarders revealed new information about these specific destination travelers. Here are some highlight...

SAM Magazine--Los Angeles, Calif., October 3, 2013--ESPN issued the following statement today: ESPN today announced it will not continue with X Games events in Barcelona, Munich, Foz do Iguaçu, Brazil and Tignes, France. We are proud to have run world-class competitions for both the athletes and spectators; however the overall economics of t...

SAM Magazine--October 3, 2013--In a clever move, Arizona Snowbowl and Aspen/Snowmass are spinning lifts for tourists who are shut out of national parks. Thanks to the government shutdown, national parks are closed across the country, so the ski areas decided to offer alternatives for tourists. Arizona Snowbowl is extending its scenic chairlift oper...

SAM Magazine—Copper Mountain, Colo., Oct. 2, 2013—The Forest Service has approved Copper’s high alpine project, The 12’s, a multi-year enhancement of the resort’s high alpine skiing and riding. The 12’s encompass three peaks with elevations in excess of 12,000 feet: Tucker Mountain, Union Peak and Copper Peak. Th...

SAM Magazine--Vernon, N.J., October 2, 2013--UPDATE: After announcing an auction for October 1, Hidden Valley remains unsold after no-one bid on the resort. According to The Star-Ledger, bidding was expected to start at $2.75 million (an amount that would cover debts and fees). The auction house is still hopeful that someone will make an offer. In ...

SAM Magazine--Greenwood, Maine, October 1, 2013--Building on an existing partnership, Mt. Abram, Maine, has hired Mountain Rider’s Alliance (MRA) to manage the ski area. MRA is a grassroots organization whose mission is to create sustainable mountain playgrounds. Led by GM Dave Scanlan, MRA personnel will fill other key positions of Mt Abram&...

Loveland, CO SAM Magazine—Denver, Oct. 1, 2013—Colorado resorts have begun snowmaking operations for the 2013-14 season. Loveland Basin cranked up its guns at 6 p.m. on Sept. 27, and Arapahoe Basin followed five hours later. Copper Mountain began early today. This year’s start was about a week ahead of last year. While warme...

SAM Magazine—Broomfield, Colo., Sept. 27, 2013—Vail Resorts (VR) rebounded nicely in 2012-13 from a very poor 2011-12 season, and early indicators, such as pass sales, suggest the coming winter will be strong. That’s the big picture presented by VR’s year-end financial report, released today. For the year ended July 31, t...

SAM Magazine--Covington Township, Pa., September 26, 2013--The following is a statement released by The Renaissance Auction Group: "We are pleased to announce that the high bid submitted at the Sealed Bid auction for Alpine Mountain Ski Area was accepted by the sellers. "The successful bidder is a local investor who plans to continue o...

SAM Magazine—Missoula, Mont., Sept. 25, 2013—The Bitterroot and Lolo national forests have, for the third time, rejected Tom Maclay’s proposal for a ski resort on the national forest above his family’s former ranch. “Based on review of your proposal, we have concluded that your proposal is not consistent with all of...
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SAM Magazine—Aspen, Colo., September 24, 2013—Summer gave way to snow on the first few days of fall across parts of the West. From Colorado to California and Oregon, resorts reported the first significant snow of the season. It was significant enough at Silverton, Colo., where two to three feet of snow fell, that a few patrollers rode t...

SAM Magazine—Ludlow, Vt., Sept. 24, 2013—The state of Vermont has given the go-ahead to a $200 million development at Okemo Mountain. The development will be led by Timber Creek at Okemo, a private investment group, but it will connect to the existing resort. Okemo will operate the development’s two planned lifts and snowmaking on...

SAM Magazine—West Dover, Vermont, Sept. 24, 2013—New England areas are competing hard for core customers, especially college-age and post-college skiers and riders. In Vermont, sometime rivals Mount Snow and Stratton have formed a new partnership that offers 18- to 26-year-old skiers and snowboarders an unrestricted Double Down Pass ...

SAM Magazine--Mount Spokane, Wash., September 20, 2013--A proposed lift, which would have accessed 279 more acres at Mt. Spokane Ski and Snowboard Park, was halted by a ruling this past Tuesday from the state appeals court. According to The Spokesman-Review, the Washington State Parks and Recreation Commission made a mistake by not requiring a deta...

SAM Magazine--Park City, Utah, September 19, 2013--Yesterday, a district county judge in Summit County, Utah, ruled that Park City Mountain Resort (PCMR) can ammend its complaint against Talisker Land Holdings LLC and argue that it had "first right of refusal" to buy the terrain that Talisker owns and leases to PCMR. The terrain does not ...

SAM Magazine--Denver, Colo., September 18, 2013 – Colorado Ski Country USA (CSCUSA) announced that Christy Sports, a family owned and Colorado-based ski and snowboard retailer, is partnering with CSCUSA in support of the 5th and 6th Grade Passport Programs. The CSCUSA Passport Programs introduce kids to Colorado’s winter sports...

SAM Magazine--Denver, Colo., September 17, 2013--Lodging properties in 17 western mountain resort destinations wrapped up the summer through August with a 5.5 percent increase in actual occupancy and a six percent increase for the past six months compared to 2012 according to the most recent data released by DestiMetrics. The results are through Au...

SAM Magazine--Tupper Lake, N.Y., Sept. 17, 2013--After not opening last season, the entity that runs the Big Tupper ski area, ARISE (Adirondack Residents Intent on Saving their Economy), has decided to open up the community area for the coming winter. According to the Adirondack Daily Enterprise, the ski center will be completely volunteer-run this...

SAM Magazine—Park City, Utah, Sept. 12, 2013—District Judge Ryan Harris has ruled that a series of emails between Park City Mountain Resort (PCMR) officials and attorneys shows no evidence of an attempt to commit fraud as part of PCMR’s actions to renew its land lease, and he barred the emails from depositions that began yesterday...

SAM Magazine—Littleton, N.H., Sept. 12, 2013—After being shuttered for more than 20 years, the Mt. Eustis Ski Tow will reopen to skiers and local school ski programs after Jan. 1. The town is planning to offer the non-profit Mt. Eustis ski Hill Group a three-year lease for $1 a year. Voters approved the plan at a town meeting last March...

SAM Magazine—Woodbury, Conn., Sept. 5, 2013—Registration for SAM’s fourth annual Summer Ops Camp—a series of seminars, workshops, and site visits that explore the state of the art in summer operations—closes Monday. A few spots are still available for the camp, which takes place Sept. 15 to 17 at Attiash and Cranmore, ...

SAM Magazine—Bear Valley, Calif., Sept. 5, 2013—Bear Valley Resorts, which has been seeking a buyer to put Bear Valley’s recently approved development plan into effect, has said that a deal to sell the resort has collapsed. Managing partner Greg Finch told Stockton, Calif.-based The Record that the complexity of the deal, particul...

SAM Magazine—Durango, Colo., Sept. 3, 2013—A coalition of Olympic and X Games gold medalists and world champions has launched a $300,000 crowdfunding campaign to complete development of Ski Nation, a mobile application and independent skier network that will debut during the 2013-14 winter season in time for the 2014 Olympic Winter Game...

SAM Magazine—Seven Springs, Pa., Sept. 3, 2013—Seven Springs Mountain Resort has reached an agreement to buy its neighbor, Hidden Valley, from The Buncher Company. Located 13 driving miles from Seven Springs, Hidden Valley consists of approximately 1,200 acres encompassing 29 ski slopes and trails, as well as an 18-hole golf course. ...

SAM Magazine—Park City, Utah, Aug. 30, 2013—Following news of the eviction notice that Talisker Land Holdings delivered to Park City Mountain Resort (PCMR) earlier this week, Vail Resorts (VR) has said in a prepared statement that VR, which in handling lease negotiations in Talisker's stead, will not interfere with PCMR’s oper...

SAM Magazine--Park City, Utah, August 29, 2013--Another shot has been fired in the on-going lease battle between Talisker Land Holdings and Park City Mountain Resort (PCMR), this time in the form of an eviction notice. Yesterday, Talisker filed a notice saying that PCMR is a tenant and they have five days to vacate the land it leases from Talisker ...

SAM Magazine--Broomfield, Colo., August 29, 2013--Vail Resorts, Inc. (VR) today announced a partnership with the largest ski area in the world, Les 3 Vallées, France, home to the legendary mountain resorts of Courchevel, La Tania, Méribel, Brides-les-Bains, Les Menuires, Saint Martin de Belleville, Val Thorens and Orelle, France. The ...

SAM Magazine—Park City, Utah, Aug. 28, 2013—The U.S. Ski and Snowboard Association (USSA) has named Olympian Tiger Shaw as chief operating officer, effective Oct. 1. Shaw, a native of Stowe, Vt., and a former U.S. Alpine Ski Team athlete, will transition in the spring of 2014 to succeed Bill Marolt as president and chief executive offic...

SAM Magazine--Jay, Vt., August 22, 2013--Jay Peak Resort announced that it has signed an agreement to host the 2016 Porsche Club of America's Porsche Parade. The event will bring more than 2,000 Porsche owners from around the country, and reps from the Porsche factory to Jay Peak for 10 days in mid-June 2016. The parade represents the largest p...

SAM Magazine--Newry, Maine, August 22, 2013--Sunday River Resort announced that it has added 75 acres of terrain, becoming the second largest mountain resort in New England (behind Sugarloaf), with a total of 820 acres. Included in the new terrain is T72, a 15-acre terrain park trail, and five new gladed areas, all set to open for the 2013-14 seaso...

SAM Magazine--Queensbury, N.Y., August 19, 2013--As of August 15, West Mountain, N.Y., will be operated by Apex Capital and will open this winter. According to the Post Star, the group parted ways with the former ski area owner, Mike Barbone, but will now have full control over the resort. Barbone filed for Chapter 11 bankruptcy in June and, rather...

SAM Magazine--Denver, Colo., August 19, 2013--At the halfway point of summer, lodging properties from 17 participating western mountain resorts are seeing steady crowds this summer and are on pace to be the busiest ever according to the most recent data released by Destimetrics. The measurements are from data collected through July 31 and reflect o...

SAM Magazine—Rutland, Vt., Aug. 15, 2013—Okemo Mountain Resort, Killington Resort, Pico Mountain at Killington and Mount Sunapee Resort have partnered to introduce 4.0 The College Pass for undergraduate and graduate students. For $369 (plus tax) students get unlimited skiing and riding at all four areas. The deal is available for purcha...

SAM Magazine—Big Sky, Mont., Aug. 15, 2013—Yellowstone Club owner CrossHarbor Capital Partners, in partnership with Boyne Resorts, which operates Big Sky Resort, are acquiring Moonlight Basin from Lehman Brothers Holdings, which owned Moonlight through a 2012 bankruptcy sale. The deal is expected to close within the next several weeks. ...

SAM Magazine--Terreboone, Que., August 9, 2013--After 18 years at the helm of the Québec Ski Areas Association (ASSQ), Claude Péloquin will be leaving his position on September 6 to become the CFO at Ski Bromont. Under Péloquin's leadership, the ASSQ established an insurance program, developed a range of professional suppor...

SAM Magazine--Whistler, B.C., August 8, 2013--Whistler Blackcomb Holdings Inc. reported financial results for the three months and nine months ended June 30, 2013. The corporation holds a 75% interest in Whistler Blackcomb. The company reported a 25% drop in skier visits for the third quarter, which went from 332,000 to 249,000, and a 4% decrease f...

SAM Magazine--Vail, Colo., August 8, 2013--Intouch Technology Group, formed in 1993 to develop the Ultima product suite for the wintersports industry and recreational facilities, has joined forces with Trojan Holdings, a New Zealand-based tourism company that operates three ski areas in the southern Alps. As a result of the merger, Intouch appointe...

SAM Magazine--Utah, August 8, 2013--On the heels of the annoucement by Alta, Snowbird, Deer Valley and Park City that each of their season pass holders can enjoy priveleges at any of the four areas, Brighton Resort and Solitude teamed up to offer the Big Cottonwood Pass for $999. The joint pass is valid at both resorts with no blackout dates. The t...

SAM Magazine—Mars Hill, Maine, Aug. 6, 2013—The nonprofit Maine Winter Sports Center (MWSC), which has owned the Bigrock Mountain community ski area here since 2000, hopes to turn over the area to the community of Bigrock supporters. MWSC expects the community will fund operations and establish a new non-profit to operate the area, much...

SAM Magazine—Aspen, Colo., Aug. 5, 2013—The Mountain Collective, an alliance of independent mountain resorts—Aspen/Snowmass, Whistler, Alta, Snowbird, Squaw Valley/Alpine Meadows, Jackson Hole, and Mammoth—and Protect Our Winters (POW) are partnering in an effort to unite the winter sports community on climate change. The...

SAM Magazine—Killington, Vt., Aug. 1, 2013—Killington is making beginning adult skiers an amazing offer: complete a four-lesson package and receive a new pair of Elan eRise skis—along with discounts on boots and poles, and half-price lessons and lift tickets through the 2014-15 season. The details: the $249 learn-to package inc...

SAM Magazine—Park City, Utah, Aug. 1, 2013—Qualifying season’s passholders at Alta, Deer Valley, Park City Mountain Resort and Snowbird will receive three free days at each of the other resorts in the group for the 2013-14 season. The free tickets will be honored seven days a week, except for Dec. 21-Jan. 5 and Feb. 15-17. Elig...

SAM Magazine—Big Sky, Mont., July 25, 21013—CrossHarbor Capital, which owns the Yellowstone Club, and Boyne Resorts, which owns Big Sky Resort, have jointly purchased The Club at Spanish Peaks, a 5,700-acre upscale residential development near Big Sky, for $26.1 million. The private community filed for Chapter 7 bankruptcy in 2011. I...

SAM Magazine--July 25, 2013--Alpine Mountain Ski and Snowtubing, located in the Poconos in Pennsylvania, will be sold by competitive sealed bid in September. According to the Pocono Record, Alpine was bought two years ago by Appletree Management, which managed the ski area for three years prior. Appletree management stated that it wanted to get bac...

SAM Magazine--July 19, 2013--The following is a letter Laszlo Vajtay, owner of Plattekill Mountain in Roxbury, N.Y., wrote to the Department of Environmental Conservation in opposition of the proposed expansion at neighboring Belleayre Mountain. For more on the story, check out yesterday's headline news story at http://www.saminfo.com/news/neig...

SAM Magazine—Rumford, Maine, July 19, 2013—Ownership of Black Mountain Ski Resort has been transferred from the Maine Winter Sports Center, which has owned the area since 2003, to the resort’s volunteer board of directors, effective Monday. The resort remains a non-profit, but will no longer enjoy the financial support of the Libr...

SAM Magazine—Wrightwood, Calif., July 18, 2013—In response to the development of other multi-area pass deals, a dozen Western resorts have created the Powder Alliance and are offering free lift access to “anytime” passholders from member resorts. The areas are Crested Butte, Colo.; Snowbasin Resort, Utah; Sierra-at-Tahoe, Ch...

SAM Magazine--July 18, 2013--A proposed $74 million expansion of Belleayre Mountain Ski Center, in Ulster County, N.Y., is being opposed by neighboring Greene County lawmakers. In a letter to the State Department of Environmental Conservation, the Greene County legislature claims that using taxpayer dollars for the expansion of the state-owned ski ...

SAM Magazine—Stockholm, Sweden, July 15, 2013—Private equity group Altor is acquiring a majority stake in Rossignol Group from the current owners, Australian bank Macquarie (77 percent) and U.S. sporting goods conglomerate Jarden (17 percent), which also owns K2, Marker, Volkl, and several other brands. The deal values Rossignol at $196...

SAM Magazine—Denver, July 15, 2013—Hot temperatures throughout the western U.S. and increased summer programming have led to growing summer lodging occupancy, according to DestiMetrics (formerly the Mountain Travel Research Program). The June occupancy rate rose 3.9 percent compared to a year ago, and revenue increased by 9.9 percent. P...

SAM Magazine--July 16, 2013--According to published reports, a planned public auction at Tamarack Ski and Golf Resort in Idaho has been postponed for at least two months. The primary lender, Credit Suisse, had planned to auction off building materials and other furnishings today, July 15, and the county sheriff's office was going to sell off th...

SAM Magazine—Missoula, Mont., July 9, 2013—The U.S. Forest Service is considering would-be developer Tom Maclay’s latest proposal to build a destination ski resort on the Bitterroot and Lolo national forests. The Forest Service agreed to a first-stage screening on June 26, and has 60 days to determine if the proposal meets the age...

SAM Magazine—Detroit Lakes, Minn., July 9, 2013—Detroit Mountain Recreation Area supporters plan to initiate a fundraising effort this week to restore the town’s defunct ski area and turn it into a four-season activity center. The area last operated in 2004. Local businessmen formed the non-profit DMRA in 2010. The group conduc...

SAM Magazine—Rumford, Maine, June 27, 2013—The Maine Winter Sports Center (MWSC) will close the Black Mountain ski area here after the town voted to not fund the resort as a recreational resource. More than 3,000 miles to the northwest, at Mt. Sima in Whitehorse, Yukon, a similar story is playing out. In Maine, Andy Shepard, presiden...

SAM Magazine—Park City, Utah, June 26, 2013—Vail Resorts (VR) has laid off 42 full-time employees at Canyons, many of them at the department manager level or higher, as it consolidates staff at Canyons Resort here. VR signed a lease agreement to manage Canyons just a month ago. In a prepared statement, VR spokeswoman Kelly Ladyga sai...

SAM Magazine—Queensbury, N.Y., June 25, 2013—West Mountain owner East Slope Holdings LP (ESH) filed for bankruptcy protection last week. The move could facilitate a change in ownership to Apex Capital LLC, owned by local stockbroker and ESH staff member Spencer Montgomery. East Slope Holdings sought Chapter 11 protection in federal B...

SAM Magazine—Big Bear Lake, Calif., June 20, 2013—The Snow Summit Ski Corporation board of directors has retained Houlihan Lokey (HL), an international investment banking firm, to market the company, with the possibility of selling it to one of a number of interested buyers. HL will be contacting various potential buyers as part of this...