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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-Greenwood, Maine, Nov. 9, 2010-Mt Abram Resort is launching a non-academy race program, Le Club de Sport LaVallee/Parisien. The program will promote high school and middle school ski racing and help those athletes reach their full potential and grow in alpine racing. It will supplement and support the athlete's school program and coach...

SAM Magazine-Donnelly, Idaho, Nov. 9, 2010-The Tamarack Municipal Association (TMA) has reached an agreement with creditor Credit Suisse, the Idaho Department of Lands, and the equity holders of the resort to allow payment of a land lease that is a key part of TMA's effort to open the resort to skiing and snowboarding next month. TMA, the associ...

SAM Magazine-Lakewood, Colo., Nov. 9, 2010-Maynard Russell of MRC Services, Greenville, Maine, has been named interim chair of the ANSI ASC B77 Standards Committee for the next 12 to 24 months. The National Ski Areas Association (NSAA), acting as the Secretariat for the ANSI ASC B77 Standards Committee on Passenger Ropeways, announced the appointme...

SAM Magazine-McLean, Va., Nov. 5, 2010-About one-third of all skiers and riders on the mountain are on rental equipment, according to rental shop operators who took part in the 2010 Rental Equipment Survey conducted by Snowsports Industries America (SIA). Increasingly, those customers are looking for high-end demo equipment. As a result, more than ...

SAM Magazine-Frisco, Colo., Nov. 5, 2010-Keystone Resort and Copper Mountain opened today, adding to the growing list of areas that are now open for the season. In Canada, Lake Louise became the first area to open. Wolf Creek, Colo., opened for the season last Saturday, and Killington joined the group on Nov. 2. The Colorado areas were aided by ...

SAM Magazine-Boise, Idaho, Nov. 4, 2010-With winter fast approaching, Tamarack Resort's status remains as fluid as ever. In a bankruptcy court filing, Credit Suisse has declared that liquidation of Tamarack Resort is the best way to recoup as much of the $300 million owed to the resort's lender group as possible, and has asked bankruptcy judge Terr...

SAM Magazine-Whistler, B.C., Nov. 4, 2010-Whistler Blackcomb Holdings, an entity created by Intrawest for the purpose of selling public shares in Whistler Blackcomb, raised C$300 million (US$297 million) after it priced its IPO shares at C$12, a significant cut from the C$15 it hoped for initially. The offering is expected to close Nov. 9. The deal...

SAM Magazine-Brownsville, Vt., Nov. 2, 2010-Ascutney Mountain Resort won't operate this winter, with operations in future years also in doubt unless a buyer can be found. The resort's outlook took a turn for the worse last summer when Steve and Susan Plausteiner, who had bought the resort out of bankruptcy in 1993 and have managed its operation...

SAM Magazine-Lakewood, Colo., Nov. 2, 2010-Glen Plake and Head Ski Company are lending their considerable support to Learn to Ski and Snowboard Month (LSSM) in January, when more than 300 resorts across the U.S. will be promoting learn-to programs. Plake is returning as an ambassador for the initiative, and Head has signed on as a major partner. ...

SAM Magazine-Orlando, Fla., Oct. 29, 2010-In response to an earlier report on saminfo.com, CNL Lifestyle Properties has informed us that some of the statements in that report may be misleading. Here's a more complete description of the change in management at Northstar-at-Tahoe: As with other CNL resort properties, CNL owns the land and all impr...

SAM Magazine-Taylors Falls, Minn, Oct. 29, 2010-Wild Mountain, Minn., and Boreal, Calif., both opened for business today, adding to the flurry of openings in the past week. For Wild Mountain, it marks the 35th year the area has been the first in the Midwest to open. Rates were determined by bow many Facebook fans the area had-the more "likes" t...

SAM Magazine-Whistler, B.C., Oct. 29, 2010-Lack of interest from investors has led Whistler Blackcomb Holdings, a company formed by Intrawest and owned by Fortress Investment Group, to reduce the price of its IPO shares, according to several news reports. The reduction, from the planned range of C$14 to C$15 per share to the current range of C$12.5...

SAM Magazine-Newry, Maine, Oct. 26, 2010- In the wake of the SANY and NWSS fall workshops, the two groups and NSAA are planning an expanded agenda for 2011 over an eight-day stretch that, for the two events, is one day shorter. In a key and expected change, the NWSS will return to a more conventional trade show format after this year's experimen...

SAM Magazine-Denver, Oct. 27, 2010-After a long, warm fall, areas in the west have received significant snowfall in the past three days. In the Pacific Northwest, Mt. Hood Meadows had recorded 30 inches through Tuesday, with more expected. In Colorado and Utah, snowfalls were in the 18- to 24-inch range. And in western Canada, Fernie reported 15 in...

SAM Magazine-Sugar Mountain, N.C., Oct. 25, 2010-The North Carolina ski industry generated $146 million in economic activity in the 2009-10 winter season, according to a study conducted by RRC Associates for the North Carolina Ski Areas Association (NCSAA). Total direct expenditures on winter sports were $88.5 million. Indirect economic activity wa...

SAM Magazine-Broomfield, Colo., Oct. 25, 2010-Vail Resorts (VR) has acquired the stock of the companies that operate Northstar-at-Tahoe from Booth Creek Resort Properties LLC and other sellers for $63 million. The operations of Northstar-at-Tahoe are conducted on land owned by CNL Lifestyle Properties Inc., which will be leased to Vail Resorts unde...

SAM Magazine-Andover, N.H., Oct 25, 2010-Dalbello and Elan are ending their joint distribution agreement as of Jan. 1, when Alpina Sports Corp. in Lebanon, N.H., will assume responsibility for Elan. The two companies will continue to market the 4Factor rental system, although Dalbello also plans to offer its Vantage system boot for use with other b...

SAM Magazine-Denver, Oct. 24, 2010-Loveland Ski Area opened at 9 a.m. today, one day ahead of the scheduled opening of neighboring Arapahoe Basin on Monday. For both, this is the start of continuous operations for the season.The news brought an energized crowd to Loveland today, demonstrating that people are eager for ski season. Snowmaking eff...

SAM Magazine-Newry, Maine, Oct. 22, 2010-Sunday River Ski Resort became the first resort in the country to open as of 3:30 p.m. EDT today, with skiable terrain on its T2 trail from the top of the mountain down to the midstation of the Locke Mountain triple chair. This marks the first time the resort has been the first to open-that is, aside from...

SAM Magazine-Wildwood, Mo., Oct. 21, 2010-Peak Resorts has entered into a purchase agreement to acquire all Wildcat Mountain Ski Area assets and attractions in Pinkham Notch, N.H., from longtime owner Pat Franchi, pending approval by the U.S. Forest Service. Adding to its portfolio of resorts located in six U.S. states, including Attitash and Crotc...

SAM Magazine--October 20, 2010--A jury returned a unanimous defense verdict yesterday in the case of James Malaguit v. Ski Sundown, Inc., in the Connecticut Superior Court, Litchfield, Conn. James Malaguit was 15 years old on February 17, 2006, when he went off a terrain feature in Ski Sundown's terrain park. He reverse rotated and landed on the...

SAM Magazine-Boise, Idaho, Oct. 20, 2010- Federal bankruptcy judge Terry Myers has rejected a $2 million loan intended to allow Tamarack Resort to maintain facilities and reopen this winter while it finds a buyer, saying that the onerous conditions of the loan made it likely the resort would default once again. Whether Tamarack will open or not ...

SAM Magazine-Waterville Valley, N.H., Oct. 19, 2010-Less than a week after taking over, the new owners of Waterville Valley are buying 25 energy-efficient HKD tower guns and a new Prinoth Bison groomer. Total investment in the six weeks leading up to the area's planned Nov. 20 opening will hit $500,000. "We completed the purchase of Waterville V...

SAM Magazine-Denver, Oct. 19, 2010-Despite ongoing economic fluctuations and decreased consumer confidence, western mountain destinations posted a 15.8 percent increase in occupancy in September 2010 compared to September 2009, according to the latest data released by Mountain Travel Research Program (MTRiP). This represents the biggest monthly inc...

In the latest installment of SAM's Summer Ops video series, the SAM CAM visited Nashoba Valley's Sunset Tiki Bar in western Mass., where guests are treated to summer fun on the ski area's snowmaking pond. Nashoba's success with the Sunset Tiki Bar this summer has surprised even its owners, the Fletchers. "The Tiki Bar has more than doubled our s...

SAM Magazine-Ishpeming, Mich., Oct. 14, 2010-World Champion ski racer Daron Rahlves, iconic skiing legend Glen Plake, and the late big-mountain freeskier Shane McConkey are among six skiers and builders named to the U.S. Ski and Snowboard Hall of Fame's Class of 2010. They will be joined by Paralympic medalist and World Champion Muffy Davis, Olympi...

SAM Magazine-Whistler, B.C., Oct. 14, 2010-Fortress Investment Group is planning to sell a significant stake in Whistler Blackcomb within the month, via an IPO expected to net C$300 million, according to filings with Canadian securities commissions. Fortress will keep a stake of unknown size in the resort as well. The group of banks that are con...

SAM Magazine-Tahoe City, Calif., Oct. 13, 2010-Alpine Meadows is the first resort in North America to install the Magnestick chairlift safety system for kids, which will be used on the area's Meadow and Subway chairs during the 2010-11 season. The system uses an electromagnetic seatback and corresponding magnetic vest worn by children riding a c...

SAM Magazine-Waterville Valley, N.H., Oct. 11, 2010-The Sununu family is leading a group of local investors that has purchased Waterville Valley from Booth Creek Resorts. The assets include the Waterville Valley Ski Area, Waterville Valley Nordic Center, Waterville Valley Conference Center and Town Square. Waterville Valley, opened in 1966, was ...

SAM Magazine--October 1, 2010--It's the season for hiring, promoting and moving, so we have compiled the latest resort personnel changes...and will continue to do so throughout the year. Congratulations to everyone below on their new positions! Mt. Rose, Nev., hired sales and marketing director Sean Bakos. Bakos hails from Vermont and spent the ...

SAM Magazine-Sacramento, Calif., Sept. 30, 2010-It could only happen in California: last Friday, governor Arnold Schwarzenegger first approved a bill that required under-18 skiers and snowboarders in the state to wear helmets, but then vetoed companion legislation that would have required resorts to take a number of other actions to further safegua...

SAM Magazine-Kiltarlity, Scotland, Sept. 29, 2010-The website www.skiinfo.co.uk reports that as the southern hemisphere's ski season continues to wind down, resorts in France, Switzerland and the USA are opening, or have opened, in the last seven days. Fresh snow in the Alps and the start of snowmaking in Colorado are further signs that the ski sea...

SAM Magazine-Alta, Wyo., Sept. 27, 2010-Grand Targhee Resort owner Geordie Gillett is assuming the role of president. He replaces former Targhee president (and general manager) F. Scott Pierpont, who recently left the resort to become vice president of sales for Doppelmayr CTEC. "We are very proud when our employees are recognized within the ind...

SAM Magazine-Denver, Sept. 16, 2010-The positive occupancy trend in mountain destinations continued during the month of August, according to the most recent data released by the Mountain Travel Research Program (MTRiP). The data reflect activity at 265 lodging properties in 15 destination resorts in Colorado, Utah, California, and Oregon. August...

SAM Magazine-Cable, Wisc., Sept. 15, 2010-Telemark Resort, a well-known cross-country resort that dates back to the 1940s, is being taken over by its bank via foreclosure, after a planned sale fell apart last spring. The foreclosure, said to be "friendly," is set to be complete in October. Susan Wiik, vice president of the owners group, said the...

SAM Magazine-Donnelly, Idaho, Sept. 15, 2010-A unanimous executive committee of the Tamarack Municipal Association (TMA) homeowners today moved to launch a marketing campaign to offer a 2010-11 season at Tamarack Resort. The season is scheduled begin on Dec.20. Snowmaking is set to fire up in early November. "We need to move now to complete t...

SAM Magazine-Beaver, Utah, Sept. 15, 2010-The once defunct Elk Meadows Resort in Beaver, Utah, is stirring. It's been nine years since the southern Utah resort gave a lift up to riders, but new management has had the chairs recertified, the lifts painted, the runs cleared, and the lodges remodeled. The new Eagle Point Club, as it is tent...

SAM Magazine--September 9, 2010--A 66-year-old woman who was partially paralyzed at Mt. Baker, Wash., as a result of falling snow received a jury award of $300,000 yesterday. The award, however, is far from the $7.6 million the plaintiff was originally seeking because the jury put 85 percent of the blame on her. The woman had admitted to going a...

SAM Magazine--September 9, 2010--Snow Valley Mountain Resort declared winter early this morning when their automated fan guns started making snow shortly after 3 a.m. Nick Chatterton, snow surfaces manager, says, "Our records indicate that this is the earliest we have made snow and this proves that our system is prepared to make plenty o...

SAM Magazine-Lakewood, Colo., Sept. 8, 2010-The National Ski Areas Association (NSAA) is awarding $100,000 in grants and in-kind contributions through its Sustainable Slopes program. The grants were the primary focus of the ten-year-old program this year. The 10th Sustainable Slopes Annual Report, released yesterday, details the program and the ski...

SAM Magazine-Bolton's Landing, N.Y., Sept. 8, 2010-Winter resorts have long recognized that their greatest competition comes not from one another, but from other leisure activity industries. Disney is often held up as the ultimate competitor. Yet Disney openly shares its knowledge of and approach to customer service, and that expertise is featured ...

SAM Magazine-Salt Lake City, Utah, Sept. 8, 2010-F. Scott Pierpont will be joining Doppelmayr CTEC as vice president of sales in mid-October. Pierpont has spent his entire professional career in the ski industry, including president/managing director positions with Grand Targhee, Canyons, and Mount Snow. He has also been a part of the ANSI B77.1 co...

SAM Magazine-New Zealand areas appear to have emerged with no significant damage from the recent 7.4 magnitude earthquake. The epicenter of the quake was at Darfield, a town just east of the Porter's Heights and Mt. Hutt ski areas. Both resorts managed to open on Saturday. The worst damage from the quake seemed to be east of Darfield, toward Chr...

SAM Magazine-Christchurch, New Zealand, Sept. 3, 2010-An earthquake measuring 7.4 magnitude hit Christchurch, New Zealand, and the South Island, causing widespread damage and power cuts to most of the city. The quake was centered about 20 miles west of Christchurch and 20 miles underground. It hit at 4.35 a.m. Saturday. It is not known how the l...

SAM Magazine-Jay, Vt., Sept. 1, 2010-A three-way land swap at Jay Peak clears the way for base area and on-mountain expansions, including replacement of the area's old Stateside lodge and upgrading lifts. The deal also allows future development on the mountain while providing a buffer between the resort and the Long Trail, a 273-mile hiking trail t...

SAM Magazine-Durango, Colo., Aug. 31, 2010-Jack Turner, the producer of the soon-to-be-released "Cheap Ski Movie," has launched a ski movie trivia contest with a grand prize of $40,365.79. The first eligible person to correctly answer 100 trivia questions based on "Cheap Ski Movie" and the history of skiing/snowboarding takes home the cash prize. ...

SAM Magazine-Broomfield, Colo., Aug. 31, 2010-Vail Resorts is launching EpicMix, an online and mobile application that lets guests at the company's five resorts digitally capture their ski and ride experiences and share them. "EpicMix takes the fun of playing and sharing online and marries it with the very real experience of skiing and riding," sai...

SAM Magazine-Carrabassett Valley, Maine, Aug. 31, 2010-Sugarloaf is expanding onto neighboring Burnt Mountain in a development that will eventually add 655 acres of terrain over the next decade, effectively doubling the area's size. For the coming season, the area is adding 270 acres. The expansion is part of a comprehensive, 10-year plan for devel...

SAM Magazine--August 26, 2010--A proposed helmet law (SB 1652) for minors in California passed the state Assembly last week and the Senate yesterday and will now head to Governor Arnold Schwarzenegger for sign-off. The bill would impose a $25 fine on parents of kids caught skiing or snowboarding without a helmet. Ski areas will be required to po...

SAM Magazine-La Veta, Colo., Aug. 26, 2010-A newly formed Cuchara Valley Recreational Metropolitan District has taken ownership of the Cuchara Mountain Resort in southern Colorado, and officials there hope to redevelop the dormant former ski area into a year-round sports facility. Huerfano County established the special recreation district to op...

SAM Magazine-Park City, Utah, Aug. 24, 2010-Canyons is adding two state-of-the-art Doppelmayr quads, including the first in the U.S. with heated seats and orange bubble enclosures, improving access to the gondola from the village, expanding terrain and expanding its snowmaking capabilities. This is the first phase in the redevelopment Canyons under...

SAM Magazine--Trenton, N.J., August 24, 2010--In a 33-2 vote yesterday, the New Jersey state Senate passed a bill requiring kids under the age of 18 to wear helmets at ski areas. Under the proposed law (it heads to the state Assembly now), parents, legal guardians and supervising adults will be fined $25 for the first offense and up to $100 for rep...

SAM Magazine-Denver, Aug. 17, 2010-Despite growing signs of economic weakness, the overall travel industry continues to rebound. Mountain destinations participating in the Mountain Travel Research Program (MTRiP),* experienced sharp increases in July occupancy, as well as increases in the advance reservations for the next six months. Destinatio...

SAM Magazine-Billings, Mont., Aug. 19, 2010-A federal judge has ruled that Yellowstone Club founder Tim Blixseth caused the Club's bankruptcy in 2008. However, the judge also found Credit Suisse partly to blame for the spectacular collapse, and it seems likely that Blixseth will be liable for "only" $20 million to $65 million of the more than $200 ...

Last summer SAM Magazine kicked off a series of resort profiles featuring summer attractions across the country. These profiles were also covered in more depth in the pages of SAM. We continue our summer ops series here with a trip to Amesbury Sports Park in Amesbury, Mass., where publisher Olivia Rowan takes a ride in the OGO. Amesbury Sports ...

SAM Magazine--August 17, 2010--According to the Wall Street Journal, Snowmass base village developers, Related Cos., J.E. Roberts Cos. and Istithmar, filed suit this week against the lenders that started foreclosure proceedings last month. The suit alleges that the banks reneged on $520 million of promised financing, thereby derailing the build-out...

SAM Magazine--August 17, 2010--Two city-owned ski hills in and around Toronto were given a lifeline by David Miller's executive committee, which voted to restore $600,000 in funding to keep the Centennial Park Ski and Snowboard Centre and Earl Bales Ski and Snowboard Centre open this coming season. Originally, the city was looking to privatize t...

SAM Magazine--Middlefield, Conn., August 9, 2010--The former owner of Powder Ridge Ski Area in Connecticut, Ken Leavitt, has filed a lawsuit against the town of Middlefield and several officials after they used "bullying tactics" to take over the ski area and its 278 acres. According to the Middletown Press, Leavitt, who owned the area from 1997 un...

SAM Magazine-Hunter, N.Y., Aug. 9, 2010-Hunter Mountain is receiving a $4.8 million federal guarantee for a loan that is funding the purchase and installation of its new base to summit six-pack. The loan will also cover the refurbishing and relocation, in summer 2011, of the high-speed quad the six-pack replaces. The loan, held by Hunter's longt...

SAM Magazine-Fernie, B.C., Aug. 4, 2010-Island Lake Resort Group has made Doug Feely its CEO. Feely, who has spent more than 30 years in senior positions within the hospitality industry in the United States and Canada, will be responsible for all aspects of operations of ILRG, which include snowcat skiing, hiking and backcountry adventures combined...