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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--Girdwood, Alaska, January 10, 2013--On New Year's Eve, a powerful wind gust hit Alyeska's tram just as it was passing a tower, causing a collision. Thankfully, there were no major injuries. As a result, however, extensive repairs are required making the tram inoperable for several weeks. On top of the collision, unstable sn...

SAM Magazine—Homewood, Calif., Jan. 8, 2013—Homewood Mountain Resort’s expansion plan has been put on hold temporarily. U.S. District Judge William B. Shubb ruled that Placer County and the Tahoe Regional Planning Agency approved the Homewood plan without considering whether a smaller (and less environmentally impactful) project w...

SAM Magazine—Teton Village, Wyo., Jan. 7, 2013—Jackson Hole Mountain Resort (JHMR) recorded above-average snowfall and unprecedented business levels for December and the holidays. The snowfall fueled record skier day numbers for the month of December and the best-ever holiday period for the Mountain Sports School, where business was dri...

SAM Magazine—Aspen, Colo., Jan. 7, 2013—Snowmass ski patroller Patsy Hileman, 49, triggered the avalanche that killed her Dec. 30 at Snowmass, in the same area where the ski patrol had performed control work three days before the accident, according to a report from the Colorado Avalanche Information Center. Ski patrol had used explo...

SAM Magazine--January 2, 2013--Jim and Kim Engle, owners of Sunburst in Wisconsin, announced an agreement to sell their resort to Rob and Jennifer Friedl, who, according to the Engles, will "continue to focus on families and to take Sunburst to a new level, even better than what we know now." The Engles plan to help with the transition...

SAM Magazine--December 26, 2012--Brian Head Resort in southern Utah, announced that as of December 20, the area is under new ownership. The resort was purchased for an undisclosed amount out of receivership from Zion's First National Bank. The new owners are Brian Head Acquisition Partners, LLC, formed out of two groups, one from California and...

SAM Magazine—Lakewood, Colo., Dec. 19, 2012—A federal district court in Colorado has struck down a U.S. Forest Service water policy that would have required resorts to transfer ownership of valuable water rights to the U.S. government without compensation. “Given how critical and valuable water is to ski area operations, we are...

SAM Magazine—Denver, Colo., Dec. 19, 2012—The Rental World, Backshop, and Uniform Gallery exhibits presented by SIA and SAM Magazine, along with a series of seminars and breakfast meetings, promise to give resort rental operators plenty to think about and see at the annual SIA Snow Show in Denver Jan. 31-Feb. 3. Rental World/Backshop...

SAM Magazine—Denver, Colo., Dec. 18, 2012—As of Nov. 30, advance reservations at 16 Western mountain resort destinations were down a sharp 12.3 percent for December 2012 compared to the same time last year, although the average daily rate rose 2.6 percent, according to the most recent data released by the Mountain Travel Research Progra...

SAM Magazine—Broomfield, Colo., Dec. 18, 2012—Vail Resorts (VR) has closed on its acquisitions of Afton Alps, Minn., and Mount Brighton, Mich., making them the eighth and ninth resorts owned by the company. The price for the two family-owned resorts was a combined $20 million. Vail officials now intend to upgrade both facilities an...

SAM Magazine—Bear Valley, Calif., Dec. 18, 2012—Environmentalists, Bear Valley owners and Stanislaus National Forest officials have resolved issues that threatened to delay a planned expansion at the resort. Central Sierra Environmental Resource Center said on Monday it was withdrawing its appeal of the Forest Service approval of the...

SAM Magazine—McLean, Va., Dec. 13, 2012—The snow sports retail market declined 2 percent season-to-date (August through October) compared to last year. But it still reached $616 million in sales, despite significant disruptions in retail sales in the South and Northeast regions due to Hurricane Sandy, and lack of momentum from the snow-...

SAM Magazine--December 13, 2012--Whistler Blackcomb Holdings Inc. (WBH) reported financial results for the three months and year ended September 30, 2012. The corporation, which has been publicly listed for two years now, holds a 75% interest in the entities that operate Whistler Blackcomb. Thanks to its downhill bike park and Peak2Peak gondola,...

SAM Magazine--December 11, 2012--On December 7, ISB Community Bank took over ownership of the Highlands of Olympia ski area in Oconomowoc, Wisc., as well as a golf course, both of which had been operating in receivership. According to The Business Journal, ISB took over the 134-acre property and, in exchange, forgave a $2.3-million debt it held wit...

SAM Magazine—Glens Falls, N.Y., Dec. 11, 2012—To encourage skiing and riding in the state, New York areas are offering 10,000 lift tickets for just $10 each, valid for one day only—Jan. 10—at a host of the state’s resorts. Participating areas include Peek n’ Peak, Holiday Valley, Holimont, Kissing Bridge, Bris...

SAM Magazine--December 9, 2012--After filing for bankruptcy in mid-October, a federal bankruptcy judge has OKed the sale of Sno Mountain Ski Resort in Pennsylvania in order to recoup about $24 million in debt. According to the timesleader.com, documents filed by Sno Mountain show it has $171,562 in assets compared to $24.2 million debt. The debt is...

SAM Magazine—McHenry, Md., Dec. 6, 2012—The Kansas City-based REIT, EPR Properties, has completed its purchase of Wisp Resort for a final price of $23.5 million. That’s up $3 million from its initial bid of $20.5 million three weeks ago. In a separate transaction, National Land Partners acquired a nearby golf course and other real...

SAM Magazine--December 6, 2012--A federal bankruptcy judge passed down a ruling finding Yellowstone Club, Mont., founder Tim Blixseth responsible for the financial collapse of the private club and ski area. According to the Bozeman Daily Chronicle, the judge said that "in a pattern of self-dealing," Blixseth used the Club for his own gain...

SAM Magazine—Dec. 6, 2012—Vail Resorts, Inc., will create its own skiers in the Midwest, announcing today that it has entered into agreements to purchase Afton Alps in Minnesota and Mount Brighton in Michigan, for total cash consideration of $20 million. According to the release, both ski areas serve major snow sports markets in the Mid...

SAM Magazine--December 4, 2012--Whistler Blackcomb Holdings Inc. and KSL Capital Partners, LLC (KSL) announced that an affiliate of KSL has entered into a purchase agreement with Intrawest to acquire Intrawest's 9,092,500 common shares of the corporation, representing approximately 24% of the corporation's issued and outstanding common shar...

SAM Magazine—Broomfield, Colo., Dec. 4, 2012 —Vail Resorts (VR) reported a loss of $60.6 million for the quarter ended October 31, 2012, compared to a loss of $55.7 million in the same quarter a year ago. Revenues were flat at $166.4 million for the period, a traditionally slow time for the company’s resorts. “We observed improving trends ...

SAM Magazine—Washington, D.C., Dec. 4, 2012—Organizers of the Bring a Friend Challenge are asking all of the estimated 100,000 people working full-time in the snow sports industry, as well as the many thousands who are working part-time, to take the “Bring a Friend” campaign personally. That means, bring a non-skiing or –riding friend to ...

SAM Magazine—Salt Lake City, Dec. 4, 2012— Utah officials have announced plans to bid for the 2026 Winter Olympics. The bid is contingent on an upcoming United States Olympic Committee decision regarding potential bidders, and could well face stiff competition from Reno-Tahoe and Denver. Both Reno-Tahoe and Denver had been pursuing a bid for th...

SAM Magazine--December 4, 2012--Mt. Spokane, Wash., received an amendment to its existing concession lease with the Washington State Parks and Recreation Commission to pursue opening seven new runs, which would be serviced by a new chairlift, on an 850-acre parcel. The proposal was originally submitted in 2010 and has undergone several reviews. The...

SAM Magazine--December 4, 2012--The Summit Series announced yesterday that the group has agreed to purchase Utah's Powder Mountain. Published reports claim the price tag for the deal was $40 million. According to Wikipedia, Summit Series is an American organization that hosts events for young entrepreneurs, artists and activists. Events orga...

SAM Magazine—Mt. Hood, Ore., Nov. 21, 2012—Despite a relatively dry and warm start to the ski season nationwide, many resorts are opening as planned during the traditional Thanksgiving holiday period. Resorts in the Pacific Northwest have been aided by significant snowfalls in the past week. Alyeska, Alaska, and Crystal Mountain, Was...

MedFlight prepares to transport Russell Watts to Akron General Hospital after his arm was amputated while installing Clear Fork Ski Resort's new conveyor lift. / Jami Kinton/News Journal SAM Magazine--November 21, 2012--An unfortunate accident at Clear Fork Resort in central Ohio, cost an employee his arm on Tuesday, November 20. Clear Fork ...

SAM Magazine--November 21, 2012--Peak Resorts Inc. announces the purchase of Alpine Valley Ski Area in Chesterland, Ohio. The northeast Ohio resort opened in 1962 and has two chairlifts, as well as four surface lifts. “Alpine Valley fits strategically with how we are trying to grow our business in a market that we are familiar with,” sa...

SAM Magazine—Denver, Nov. 21, 3012—Occupancy at Western destination resorts was up 6.9 percent for the past spring and summer compared to year-earlier totals, and the daily rate rose 3.9 percent. But momentum has reversed for the upcoming winter, according to the Mountain Travel Research Program (MTRiP). As of Oct. 31, reservations for ...

SAM Magazine—Vail, Colo., Nov. 16, 2012—Snowfall and snowmaking temperatures have spread across the country in the past week, enabling several more areas to open for the season. Last Sunday, Nov. 11, Mountain High, Calif., joined the growing ranks. On Tuesday, Nov. 13, Brighton, Utah, followed, with several areas opening on Nov. 14: ...

SAM Magazine—McHenry, Md., Nov. 12, 2012—EPR Properties, the Kansas City-based REIT that owns most of the resorts managed and operated by Peak Resorts (and formerly known as Entertainment Properties Trust), has bid $20.5 million for Wisp Resort, kicking off what could become a competition to win the resort at a bankruptcy court hearing ...

SAM Magazine—Washington, D.C., Nov. 9, 2012—Tahoe-based PSIA-AASI instructors Heidi Ettlinger (Heavenly Resort) and Allison Ace (Northstar) have been named ambassadors for the Learn to Ski and Snowboard Month (LSSM) Bring a Friend initiatives, joining fellow Tahoe skiers Glen Plake and Daron Rahlves. All four will help spread the messag...

SAM Magazine—June Lake, Calif., Nov. 9, 2012—June Mountain Ski Area will be closed this winter, but will re-open for the 2013-14 winter season, Mammoth Mountain CEO Rusty Gregory said earlier this week. June, which is owned by Mammoth Mountain, was closed last spring after several seasons of operating in the red. Gregory said that Ma...

SAM Magazine—Breckenridge, Colo., Nov. 8, 2012—Resorts across North America have opened or are opening this week, from Mont Saint-Sauveur, Quebec to Breckenridge, Colo. Some are launching daily operations, while others will shut down midweek. Among the recent and imminent openings: Sunday River opened Nov. 6, and is offering top-to b...

SAM Magazine—McLean, Va., Nov. 8, 2012—Retail sales increased 2 percent in units and 1 percent in dollars in August and September, according to the SIA RetailTRAK. This put sales at a four-season high in both units and dollars, with notably strong sales in the alpine equipment and accessories categories. The report is based on informati...

SAM Magazine—Camden, Maine, Nov. 8, 2012—Jeff Kuller, the popular director of parks and recreation, including the Camden Snow Bowl, died Nov. 4. He was cutting a tree limb in his yard when he suffered a head injury and died. Since 2004, Kuller had created a series of successes for Camden and the larger community that skis, hikes, and...

SAM Magazine--November 6, 2012--Northstar, California, released its Mountain Master Plan (NMMP) today, outlining what the future holds with regard to on-mountain improvements and additional recreational opportunities at the resort. The plan, submitted to Placer County for environmental review, outlines mountain improvements proposed at Northstar ov...

SAM Magazine—Boston, Mass., Nov. 6, 2012—Vermont’s ski resorts are launching a fundraising campaign this week in Boston, and online, to help residents of New York, New Jersey and Connecticut impacted by super storm Sandy. Dubbed Operation Mountains of Love, all of the funds raised will go to the American Red Cross Disaster Relief ...

SAM Magazine—Frisco, Colo., Nov. 1, 2012—Copper Mountain and Keystone Resort will both open for the season on Friday, Nov. 2. At Copper, the American Eagle chairlift starts turning as Copper launches its 40th season. Guests will be riding and skiing off of the American Eagle chairlift and access two Woodward at Copper terrain parks, ...

This article has been updated to include a statement from Canyons owner Talisker regarding future consideration of its SkiLink proposal. SAM Magazine—Salt Lake City, Utah, Nov. 1, 2012—More than 80 companies and conservation groups have signed a petition initiated by ski equipment supplier Black Diamond to oppose SkiLink, a proposal ...

Banner Elk, N.C., Oct. 30, 2012—Trick or treat, Superstorm Sandy has brought more than a foot and a half of snow to resorts in the Southeast and mid-Atlantic states, prompting a few to open for the season. Sugar Mountain and Cataloochee, N.C., will open on Halloween, Oct. 31. This marks the earliest-ever opening for Sugar, and Cataloochee&rsq...

SAM Magazine--October 22, 2012--Jim Spring, founder of Leisure Trends Group (LTG), died early Monday morning while battling throat cancer. Spring founded LTG in 1989 and over the past 23 years developed and led the company to become one of the authorities in the sporting goods and specialty retail industries. Spring started his career in the ind...

SAM Magazine—Lakewood, Colo., Oct. 22, 2012—The ASTM F24 Amusement Rides and Devices Committee approved the first version of the Aerial Adventure Course Standard, which includes zip lines, ropes courses, challenge courses, aerial trekking courses, and canopy tours. This new standard establishes criteria for the design, manufacture, inst...

SAM Magazine—Union Dale, Pa., Oct. 22, 2012—Elk Mountain and its neighboring resort community, the Village of Four Seasons, have been squabbling over property issues. The latest tiff: the Village has lodged a lawsuit against the ski resort, charging that the resort wrongly claimed and transferred a section of the village's property ...

SAM Magazine--October 21, 2012--Ski Utah announced the launch of the new Ski Utah magazine and a redesigned website. The inaugural magazine is a different product more focused on imagery, polished writing, insider tips and more. “After years of producing a factual vacation planner, it was time to re-invent the wheel and feed the dream and asp...

SAM Magazine--October 17, 2012, Jay, VT--Jay Peak Resort today announced that it is lowering the prices of all its lift tickets. For example, a single-day lift ticket last year was $75, but will be $64 this season. Ten dollars will be taken off each additional day purchased. The move comes while the area undergoes a $500 milion renovation....

SAM Magazine--October 17, 2012--Sunshine Village Ski and Snowboard Resort has named Dave Riley as senior VP and COO of the Banff resort. Riley was most recently CEO at Telluride and before that president of Mt. Hood Meadows....

SAM Magazine--October 17, 2012--Sno Mountain, Pa., filed for involuntary Chapter 11 on October 15. In late August, the state of Pennsylvania filed a lien against the area for $516,503, most of which was for unpaid taxes. The area disputed the lien claiming that it only collected sales tax on rentals, so it did not owe taxes for all other sale...
SAM Magazine—Arapahoe Basin, Colo., Oct. 17, 2012—Arapahoe Basin Ski Area opened today at 9 a.m., marking the start to the ski and snowboard season. The Black Mountain Express started at 9:00 a.m. and began serving the intermediate High Noon trail at mid-mountain. The area also has six features in the High Divide Terrain Park. Temperatu...

SAM Magazine—Denver, Oct. 15, 2012—Reservations for the fall and winter season through March 2013 are up .5 percent from year-ago levels, with future customers reluctant to book far in advance, according to the Mountain Travel Research Program (MTRiP). In addition, the pace of bookings during September was below the level of a year ago....

SAM Magazine--October 12, 2012--After a shaky 2011/12 season, Bear Valley Mountain Resort, Calif., has said that it will reopen this year. Typically, Bear Valley hosts 140,000 skier visits, but last season saw only 75,000. Also at issue was whether the resort would file a new operating plan with the U.S. Forest Service by October 15. According to M...

SAM Magazine—Breckenridge, Colo., Oct. 10, 2012—Two appeals were lodged against the Forest Service decision to allow Breckenridge’s Peak 6 expansion, giving the agency 45 days to respond. The proposed expansion would add 413 acres, much of it designated as intermediate, a six-pack chairlift, fixed-grip chair, and 143 acres of hike...

SAM Magazine—Ligonier Township, Pa., Oct. 10, 2012—State-owned Laurel Mountain Ski Resort will remain closed for at least another year. The 64-acre facility has been closed since 2005 despite efforts to reopen it. Seven Springs Mountain Resort has agreed to operate the area, and has been assessing the infrastructure needs, which incl...

SAM Magazine--October 9, 2012--Actor Bruce Wilis has handed over the reins of his small Idaho ski area, Soldier Mountain, to a nonprofit group. The actor announced last April that he was looking for a new entity to run Soldier, which includes two chairs and one rope tow on permitted Forest Service land, at the same time he announced the sale o...

SAM Magazine—Taylors Falls, Minn., Oct. 8, 2012—Wild Mountain, Minn., was the first resort to open for the winter season, as it began operations on Sunday, Oct. 7, with skiing, snowboarding, alpine sliding and go-karting. Opening day offered two slopes, a beginner run and a terrain park, served by two rope tows, with up to 24 inches ...

SAM Magazine—Keystone, Colo., Oct. 4, 2012—Keystone Resort is taking kid-friendly programming to new heights: throughout the entire 2012-2013 winter season, children 12 and under will ski/snowboard for free at Keystone, so long as their families stay two or more nights in one of Keystone’s owned and operated accommodations. If ...

SAM Magazine—Rossland, B.C., Oct. 4, 2012—Red Mountain Resort has begun developing a 1,000-acre expansion onto Grey Mountain that will bring total skiing acreage to 2,682 acres and make Red one of the largest resorts in North America. Full development will be completed by December 2013. The Grey Mountain expansion will open up a vast...

SAM Magazine--Vermont, October 4, 2012--After a rocky 54-year history, Sugarbush Resort and Mad River Glen have declared a détente and are offering joint season passes for the first time. The "Ski The Valley Plus" pass is available to skiers who book extended ski and stay packages and includes unrestricted access to all three mount...

SAM Magazine—Jay, Vt., Oct. 2, 2012—Jay Peak and Burke Mountain resorts will get a share of a $500 million investment of EB-5 visa funds that will transform the economy of the state’s “Northeast Kingdom." The overall development plan will bring new industries and a hotel/conference center to the town of Newport and expa...

SAM Magazine—Norden, Calif., Sept. 28, 2012—Sugar Bowl has signed an agreement with the Truckee Donner Land Trust to lease and operate the neighboring Royal Gorge cross-country ski area this winter, pending completion of the Trust’s purchase of 3,000 acres of Royal Gorge terrain. If all goes according to plan, Sugar Bowl will a...