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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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VAIL RELEASES SOME SEASON RESULTS

SAM Magazine--May 2, 2012--Vail Resorts, Inc., released lift ticket sales, ski school and other ancillary results from the 2011/12 season, as compared to the same approximate time period last year. The measurements are from the beginning of the ski season through April 22, 2012, and are compared to the beginning of the ski season in 2010 through April 24, 2011. (The data excludes Kirkwood, Calif., which was acquired on April 12, 2012.)

WHITEFISH POSTS BANNER SEASON

SAM Magazine—April 26, 2012—In spite of postponing its opening by one week due to minimal snow conditions, Whitefish Mountain Resort, Mont., is more than pleased with the finish of the 2011/2012 ski season. Although snowfall and skier visits were down in December, the resort reported more snow in January, February and March in 2012 than in 2011, which was an above average year. Likewise the resort closed the season with over 294,000 total skier visits, well above its five year average and the fourth best ever.

UTAH COMMUNITY LEADERS BACK SKILINK

SAM Magazine—Salt Lake City, Utah, Apr. 24, 2012—Twenty prominent business and community leaders have formed a coalition to support SkiLink, which would connect Canyons and Solitude via gondola. They hope the project will pave the way for additional links between resorts and the eventual creation of the largest multi-area “ski circus” in North America, one that could equal the scale of several European mega-resorts.

2012 SAMMY WINNERS ANNOUNCED

SAM Magazine—Woodbury, Conn., April 18, 2012—SAM Magazine is excited to announce the winners of the 2012 SAMMY Leadership Awards. The three recipients prove that to be successful in the mountain resort industry takes a lot of energy, enthusiasm and, above all, passion.

The 2012 SAMMY winners are:

EIGHT INDUCTED INTO SKI HALL OF FAME

SAM Magazine—Seattle, Apr. 18, 2012—Eight legends of skiing were inducted into the U.S. Ski and Snowboard Hall Fame in a ceremony here last Saturday. Among the honorees were ski area developers Nick Badami and Phil Gravink, ski show producer Harry Leonard, ski historian Mason Beekley, speed skier and writer Dick Dorworth, and competitors Joe Pack, Eva Twardokens, and Tyler Palmer. K2, celebrating its 50th anniversary, received the Hall’s Legends of Skiing Award.

About the business inductees:

WESTERN DESTINATION VISITS SLUMPED IN MARCH

SAM Magazine—Squaw Valley, Calif., Apr. 18, 2012—Below average snowfall and snowpack, combined with record-breaking warm temperatures, led to a 3.9 percent decline in occupancy at Western mountain destinations during March compared to the same month last year, according to the Mountain Travel Research Program (MTRiP). Similar declines were recorded for the season, with overall occupancy down by 2.3 percent through March.

VAIL RESORTS BACKS MORE WILDERNESS AREAS IN COLORADO

SAM Magazine—Broomfield, Colo., Apr. 18, 2012—Vail Resorts has joined conservation groups in supporting Senator Mark Udall and Congressman Jared Polis in their efforts to designate additional wilderness and special management areas in Eagle and Summit counties, home to Vail, Beaver Creek, Breckenridge, and Keystone. The areas under consideration for wilderness designation would provide enhanced levels of protection and management for up to 175,000 acres.

PARK CITY, TALISKER STILL NEGOTIATING NEW LEASE

SAM Magazine—Park City, Utah, April 16, 2012—Continuing a three-year wrangle, Park City Mountain Resort and its landlord, Talisker, remain in negotiations regarding PCMR’s lease of much of its ski terrain, despite a series of legal moves in the courts.

WOULD-BE TAMARACK BUYER ARRESTED ON FRAUD CHARGES

SAM Magazine—Boise, Idaho, Apr. 16, 2012—Pension fund trustee and investment adviser Matthew Hutcheson, who bid $40 million for Tamarack Resort in 2010, has been arrested on 31 counts for defrauding two pension funds under his control. The indictment charges that Hutcheson used the money in his effort to buy the Tamarack resort as well as for his personal use.

In particular, the indictment claims the fund manager invested $3.2 million from the Retirement Security Plan & Trust pension fund to buy a bank note and interest in the golf course at Tamarack.

SNOW SPORTS RETAIL SALES STAYED DOWN IN FEBRUARY

SAM Magazine—Washington, D.C., Apr. 13, 2012—Snow sports retail sales were down 12 percent in units and 4 percent in dollars through the end of February, according to the RetailTRAK, released by SnowSports Industries America (SIA) and The Leisure Trends Group. Sales totaled $3.2 billion.

Vail Closes on Kirkwood

SAM Magazine--April 12, 2012--Vail Resorts, Inc. (VR) today announced that the company has closed on its acquisition of Kirkwood Mountain Resort at Lake Tahoe, Calif. Vail Resorts now operates three mountain resorts in the Lake Tahoe region and together with Heavenly Mountain Resort and Northstar California. The transaction, which included the ski resort and undeveloped sites at the center of the base area, closed for approximately $18 million. The seller retains a participation interest in the base area parcels and continues to own the remainder of the real estate development sites.