News Search
SAM Headline News
FEATURED STORY
-
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...
Get SAM Headline News delivered to your inbox. It's not just another email—it's industry news and special reports that matter to you, coming from the industry's trusted resource.

SAM Magazine-Aviemore, Scotland, Feb. 17, 2010-Despite the fluctuating weather conditions in Vancouver for the Olympic Games, most of the rest of the Northern Hemisphere is reporting great ski conditions, according to www.Skiinfo.co.uk. Mt. Washington, B.C., not far from the Games sites, currently reports the greatest reported snow depths (15...

SAM Magazine-Truckee, Calif., Feb. 17, 2010-East West Resort Development, an affiliate of East West Partners which has built luxury resorts in the Tahoe area, filed for bankruptcy yesterday. The filing primarily affects three Tahoe-area properties: Old Greenwood, Gray's Crossing and the Northstar Highlands, along with Tahoe Mountain Club. It doe...

SAM Magazine-Vancouver, B.C., Feb. 9, 2010-Intrawest today announced a definitive purchase agreement to sell its interests in Sandestin Golf and Beach Resort to the Becnel family of Destin, Florida. Specific terms of the agreement were not disclosed; the transaction is anticipated to close in the first quarter of 2010. The purchase agreement inc...

SAM Magazine-Louisville, Colo., Feb. 8, 2010-Olympic bronze medalist Jimmie Heuga, a star of the 1964 Olympic Winter Games and one of the U.S. Ski Team's greatest ski racers, died today, on the eve of the Olympics in Vancouver and 46 years to the day after he won his medal. Heuga was 66. "Jimmie Heuga was a champion in every sense of the word," ...

SAM Magazine--Squaw Valley, Calif., February 2, 2010--Late last week, Squaw Valley USA announced that it has completed the acquisition of The Village at Squaw Valley, a four-season mountain resort village at the base of the ski resort, from Intrawest. The Village was started in 2002 and was developed by Intrawest. Last week's transaction include...

SAM Magazine--Vancouver, B.C., January 28, 2010--Intrawest and a newly formed company, Panorama Mountain Village Inc. (Panorama Inc.) announced today that they have entered into a definitive asset purchase agreement that will enable Panorama Inc. to purchase Intrawest's interests in Panorama Mountain Village. Panorama Inc. is made up of area homeow...

SAM Magazine--Golden, B.C., January 26, 2010--Canadian Premier Gordon Campbell announced the approval of Kicking Horse Mountain Resort's New Master Plan. The 40-year plan includes 20,000 bed units, an 18-hole golf course, a multi-use trail system with 11 proposed lifts and 4,188 acres of skiable terrain. "At the Provincial level we have now appr...

SAM Magazine--Denver, Colo., January 26, 2010--Colorado Ski Country USA (CSCUSA) reported that its 22 member resorts saw a one-percent increase in skier visitation for the first portion of the 2009-2010 winter season over the same period last year. The period, which runs from October 7, 2009 through December 31, 2009, saw some early snowstorms in t...

SAM Magazine-Boyne Falls, Mich., Jan. 22, 2010-After the devastating earthquake in Haiti last week, winter resorts joined the worldwide response by staging a variety of charitable fundraising events over the Martin Luther King Holiday weekend. More than 15 resorts across North America set up donation funds to help aid the people of Haiti. Boyne ...

SAM Magazine-Granby, Québec, Jan. 22, 2010-Prinoth is taking over direct distribution of its Alpine products in the Midwest, assuming responsibility that was previously handled by Track Inc. Prinoth will open its own facilities to manage Midwest sales, service and parts distribution for all Alpine groomers, and incorporate this new site into its...

SAM Magazine-Colorado Springs, Colo., Jan. 22, 2010-The U.S. Olympic Committee has bestowed its highest honors on three U.S. Ski Team athletes on the eve of the 2010 Olympic and Paralympic Winter Games. Alpine skier Lindsey Vonn was named 2009 USOC SportsWoman of the Year, Nordic combined skier Todd Lodwick was honored as SportsMan of the Year, an...

SAM Magazine-Steamboat Springs, Colo., Jan. 20, 2010-In a statement released this afternoon, Intrawest disputed published reports about an impending foreclosure action and asserted that it remains in control of all its resorts. "There have been inaccurate and misleading media reports surrounding Intrawest today," the statement says. "Fortress In...

SAM Magazine--January 13, 2010--After filing for bankruptcy protection, the East Coast retail chain, Ski Market, was granted permission by the bankruptcy court to find a buyer by February 12. According to published reports, the future buyer would get Ski Market free and clear of its current debts. Ski Market owes more than $4 million to its loca...

SAM Magazine--January 13, 2010--The Canadian Ski Council (CSC) released its policy on helmet usage at Canadian ski areas. It reads: "The Canadian Ski Council recommends wearing helmets for skiing and riding. Skiers and snowboarders are encouraged to educate themselves on the benefits and limitations of helmet usage. The primary safety consideration...

SAM Magazine--Stowe, Vt., January 8, 2010--On December 31, 2009, Chartis acquired Stowe Mountain Resort from the beleaguered AIG. Chartis was formed in the summer of 2009 as a separate subsidiary of AIG that took over AIG's property-casualty and general insurance business. For its part, AIG is spinning off many of its programs following the $182 bi...

SAM Magazine-Broomfield, Colo., Jan. 8, 2010-Vail Resorts, Inc. (VR) has seen a slight decrease in business levels from a year ago, according to data released by the company today. Lift ticket revenue through Jan. 6, including an allocated portion of season pass revenue, was down approximately 0.4 percent compared to last year's comparable perio...

SAM Magazine--January 5, 2010--On Monday, January 4, 2010, NPR's "All Things Considered" aired a piece on a report that found that ski resorts exaggerate snow reports, especially on the weekends. Two researchers from Dartmouth College, Eric Zitzewitz and Jon Zinman, studied industry snow reports from 2004 to 2008 and found that resorts report 23 p...

SAM Magazine--Boston, Mass., January 4, 2010--On December 29, 2009, wintersports retailer Ski Market filed for Chapter 11 bankruptcy protection. According to the Boston Globe, Ski Market employs 170 full- and part-time employees in seven retail stores in New England. From April 1, 2008 to March 31, 2009, the retailer reported $22.5 million in gr...

SAM Magazine--January 4, 2010--Two-time World Champion Lindsey Vonn was named Female Athlete of the Decade by NBC's Universal Sports. Vonn joins Jamaican sprinter Usain Bolt who was chosen best male athlete of the decade. "It's incredible to think about where I was as a person and an athlete in 2000 and then compare that to where I am now, says...

SAM Magazine-LASSM kicked off today with Glen Plake appearing in a segment on The Today Show (see it at www.msnbc.msn.com/id/21134540/vp/34687728#34687728). The four-minute-plus segment shows cohost Hoda Kotb getting a lesson from Plake, along with some pre-tween kids. It also shows a stunt double sliding a rail and catching serious air. All in all...

SAM Magazine-Bozeman, Mont., Jan. 4, 2010-Property owners at four Western resort developments, including the Yellowstone Club and Tamarack Resort, have sued Credit Suisse Group AG for $24 billion in losses and damages, claiming the banking giant attempted to defraud investors through its lending practices. The suit also names realtor Cushman & Wake...

SAM Magazine-Denver, Dec. 29, 2009-Iowa Pacific, the company that hoped to keep the Winter Park Ski Train running for a 70th year, has pulled the plug on the operation for 2010. The company has been unable to reach an agreement with Amtrak to operate the train due to insurance and other issues. With service postponed until at least Jan. 6, Iowa Pac...

SAM Magazine-Vancouver, B.C., Dec. 29, 2009-Intrawest's current debt negotiations will not have any impact on the upcoming Winter Olympic Games, an Intrawest spokesman emphasized to SAM today. "Our venues are finished, preparations are nearly complete and we look forward to welcoming the world to Vancouver," added Dave Cobb, deputy chief executive ...

SAM Magazine-Denver, Dec. 28, 2009-The Winter Park Ski Train has been put on hold until at least Jan. 6 after a U.S. district judge declined to issue a temporary restraining order that would have forced Amtrak to operate the Rio Grande Scenic Ski Train between Denver and Winter Park. Iowa Pacific Holdings, which has been trying for months to tak...

SAM Magazine-Juneau, Alaska, Dec. 28, 2009-A refurbished chairlift at Eaglecrest Ski Area was shut down Dec. 23 after only a few days of operation due to a broken shaft on the auxiliary side of the gearbox. Eaglecrest general manager Kirk Duncan said the broken part affected two of the lift's four braking systems, but that safety of the lift was no...

SAM Magazine-Vancouver, B.C., Dec. 28, 2009-Having missed a $524 million payment Dec. 23 on a $1.4 billion loan, Intrawest is continuing negotiations with its lenders, according to The Globe and Mail. Lenders had reportedly granted Intrawest a 60-day extension on the loan, which had been due Oct. 23. "Intrawest continues to be in active dialogue...

SAM Magazine-Merrimac, Wisc., Dec. 28, 2009-The primary cause of the lift accident at Devil's Head Resort Dec. 17 was a massive failure of the chairlift's gearbox, according to the resort. Fourteen people were injured when the lift rolled backward after a stop. Exterior of gearbox With the gearbox out of commission, the lift's service brake...

SAM Magazine-Denver, Dec. 23, 2009-Winter has emphatically arrived, assuring excellent holiday skiing and snowboarding throughout North America and the European Alps, according to international snow conditions roundups from OnTheSnow.com and skiinfo.co.uk. "This is the first time in a number of years where most all of the world's ski resorts wil...

SAM Magazine-Mont Tremblant, Que., Dec. 21, 2009-Patrice Malo has been promoted to president and chief operating officer at Mont Tremblant. He will assume responsibility for all aspects of resort operations, real estate and community relations at Tremblant and will report directly to Bill Jensen, CEO at Tremblant parent company Intrawest. Malo b...

SAM Magazine--December 18, 2009--More than a dozen people were injured in a lift malfunction at Devil's Head Resort, Wisc., three of them seriously. According to published reports, the Hall double stopped and then started to roll back last night at about 7 p.m. Witnesses described the rollback as very quick. Many people jumped from the lift while o...

SAM Magazine--December 18, 2009--Powdr Corp. today announced that it has successfully closed on its acquisition of Copper Mountain Resort from Intrawest. "We are thrilled to work with the experienced team in place at Copper Mountain and grateful for the opportunity to expand the Powdr family into Colorado," said Powdr CEO John Cumming. It wil...

SAM Magazine-Denver, Colo., Dec. 18, 2009-Reservations for mountain lodging properties as of Nov. 30 for the 2009-10 season grew for the second straight month compared to last year, according to the monthly report compiled by the Mountain Travel Research Program (MTRiP). Overall occupancy rose, but still remains behind last year, even though lodgin...

SAM Magazine-Merrimac, Wisc., Dec. 18, 2009-At least 14 people were injured in a lift malfunction at Devil's Head Resort, Wisc., three of them seriously though not critically, after a lift rollback incident. The lift, a 1970s Hall double, was full when it stopped and then started to roll back last night at about 7 p.m. All three brake systems fa...

SAM Magazine-Mt. Crested Butte, Colo., Dec. 18, 2009-Crested Butte Mountain Resort (CBMR) has filed an appeal with the U.S. Forest Service, disputing the agency's decision last month to reject the resort's proposed expansion onto Snodgrass Mountain without conducting a public review under the National Environmental Policy Act (NEPA). The propose...

SAM Magazine-Merrimac, Wisc., Dec. 18, 2009-A team of investigators including state inspectors, tramway experts and staff members of the Devil's Head resort are conducting an investigation into what led to the lift rollback accident at the resort on Thursday evening. Resort general manager Joe Vittengl said that the resort's entire staff was...

SAM Magazine-McLean, Va., Dec. 16, 2009-Glen Plake, star of numerous ski adventure films and a frequent visitor to small ski areas on his annual Down Home Tours, will appear on NBC-TV's Today Show Jan. 4, 2010, to talk about learning a snow sport during the Learn a Snow Sport Month (LASSM) promotion. Plake is the national spokesperson for the initi...

SAM Magazine-McLean, Va., Dec. 11, 2009-The snow sports retail market acheived a 12 percent increase in unit sales and a 10 percent increase in dollar sales compared to August through October 2008, according to the SIA Retail Audit. Apparel sales were up 13 percent overall to $242 million, with very strong growth in insulated parkas, apparel suits,...

SAM Magazine-Beaver, Utah, Dec. 11, 2009-Bowman Asset Management has won the bidding for the former Elk Meadows Ski Resort in Beaver County, Utah. The purchase price was approximately $1.6 million. The 1,138-acre property had been valued as high as $5 million. The purchase does not necessarily end the dream of developers who had hoped to rechris...

SAM Magazine--December 8, 2009--Les Otten, former head of the American Skiing Company, aired his first commercial in his bid to be governor of Maine. Otten is running for the Republican pick in a combined field of over 20 candidates. About his race, Otten told SAM, "I have spent 37 years on the business side of Federal and State Government laws...

SAM Magazine--December 8, 2009--Vail Resorts released its first quarter numbers for fiscal 2009, which were down from 2008. Overall revenue dropped 47 percent, from $152.8 million in the first quarter of 2008, to $80.8 million in 2009. In the mountain segment, revenue was $40.8 million, compared to $42.5 million in the first quarter of fiscal 20...

SAM Magazine--Lakewood, Colo., December 7, 2009--The National Ski Areas Association (NSAA) today announced that Mitt Romney, former Massachusetts governor and likely frontrunner for the Republican presidential nomination in 2012, will be the keynote speaker at its annual National Convention and Tradeshow to be held May 2 to 5 in Orlando. As preside...

SAM Magazine--Grand Junction, Colo., December 4, 2009--Jon Mauch is joining the Leitner-Poma of America team in late January in Grand Junction. Mauch comes with decades of industry experience, most recently at Vail Resorts where he was the lift director at Keystone and Breckenridge. This experience will contribute to improvements in Leitner-Poma's ...

SAM Magazine-Avon, Colo., Dec. 4, 2009-iPhone apps for skiers are starting to multiply. The latest to join the Apple universe: Resort Technology Partners (RTP), and Perfect North Slopes, Ind. RTP's REALSKI introduces augmented reality (AR), a new mobile phenomenon made possible by the iPhone 3GS, to navigate trails and on-mountain features at se...

SAM on the Road visited Woodward at Copper on a Thursday afternoon in late October, when the rest of the resort was closed up for the offseason. A snowstorm had snarled traffic on Interstate 70 from Kansas to the Continental Divide, and there was more energy and action at Woodward at Copper than just about anywhere else along the highway that day. ...

SAM Magazine--Reno, Nev., December 2, 2009--Sky Tavern's local ski program sustained damage to its lodge in a November 28 fire, but is slated to open for its normal program in early January. While the final report is not yet complete, the fire is suspected to have been electrical in origins. An employee apartment was completely destroyed, but much ...

SAM Magazine and www.skiinfo.co.uk-Woodbury, Conn., Dec. 2, 2009-Warm temperatures and lack of snowfall have delayed the season in eastern North America, but the season is underway in many other parts of the Northern Hemisphere, from Whistler to Zermatt. In the eastern half of the United States, a prolonged warm spell that stopped virtually all ...

SAM Magazine--December 1, 2009--Skiset, a European ski and snowboard rental company, has expanded to North America and plans to partner with over 70 stores in the U.S. and Canada this coming season. Skiset has launched its North American websites, www.skiset.us and www.skiset.ca, and will sell directly to the consumer. Skiset allows customers to...

SAM Magazine--Ludlow, Vt., November 24, 2009--"Ski" Magazine is holding its ski gear test at Okemo Mountain Resort and the area's customers will be invited to participate. Held over two days, December 12 and 13, the event has been dubbed the Super Demo and People's Ski Test. Representatives from 10 major manufacturers and the editors of "Ski" will ...

SAM Magazine--Ennis, Mont., November 19, 2009--Moonlight Basin Ranch announced that the company and its subsidiaries filed voluntary petitions in U.S. Bankruptcy Court for reorganization under Chapter 11. Moonlight is seeking the protection in the face of Lehman Brothers' efforts to foreclose on an outstanding loan. In addition, Lehman Brothers ...

SAM Magazine--November 17, 2009--Intrawest and Powdr Corp today announced they have entered into a definitive purchase agreement to sell Intrawest's interests in Copper Mountain to Powdr Corp. The transaction is anticipated to close in December 2009 and the agreement is subject to regulatory approvals including the issuance of a U.S. Forest Service...

SAM Magazine--November 11, 2009--After years of planning, Crested Butte, Colo., was denied permission to expand onto Snodgrass, which would have given the resort 276 new acres of terrain. According to the Denver Post, The U.S. Forest Service rejected the resort's master plan and blocked its application for a National Environmental Policy Act (NE...

SAM Magazine--Boise, Idaho, November 9, 2009--A group of homeowners at Tamarack Resort that have been trying to keep the resort from permanently closing down, will have their day in court. According to published reports, a judge will let the homeowners intervene in a foreclosure lawsuit, which includes the Credit Suisse Group, as several companies ...

SAM Magazine--November 9, 2009--The New Zealand Ski Area Association announced that the country hosted a record 1,529,000 ski and snowboard visits in 2009, up from 1,402,000 visits in 2008. About 35 percent of total visits are from Australia, 15 percent are other international visitors, and 50 percent are domestic. Mt. Ruapehu's marketing man...

SAM Magazine-Bessemer, Mich., Nov. 9, 2009-An investor from Oshkosh, Wisc., with close ties to Blackjack Mountain has purchased this area in Michigan's UP. Rick Schmitz, owner-operator of Nordic Mountain Ski Area in Wisconsin, will now manage Blackjack as well. To help Schmitz manage two resorts that are about three and a half hours apart, Nordi...

SAM Magazine--November 6, 2009--Intrawest today announced a leadership change at Mont Tremblant in Quebec. Charles Massicotte, president and COO, has tendered his resignation and will leave Intrawest on November 19, 2009, to pursue a new career opportunity. "Charles is a dynamic leader and his contributions have been instrumental to the success ...

SAM Magazine-Keystone, Colo., Nov. 5, 2009-After a late-October storm dropped snow across much of the central and northern Rockies, augmenting snowmaking operations, more resorts are opening for the season. And, with another storm approaching the West Coast this weekend, more areas are likely to open in the next week. In California, Mountain Hig...

SAM Magazine-Breckenridge, Colo., Nov. 4, 2009-Breckenridge voters overwhelmingly approved a measure to make it legal to possess 1 ounce or less of marijuana, as the issue received 71 percent support in Tuesday's election. As a result, effective Jan. 1, people 21 and older in Breckenridge will be able to legally possess small amounts of marijuan...

SAM Magazine--Beaver, Utah, November 2, 2009--The defunct Elk Meadows Ski Area is now up for auction on-line at www.lfc.com/820r2. Minimum bid for the 1,100-acre property is $1,000,000 and the suggested value is $5,150,000. The ski area includes 36 trails, two lodges, six lifts and nine condos. In 2004, Elk Meadows went bankrupt and has remained...

SAM Magazine--November 2, 2009--Welch Village Resort, Minn., announced that they have contracted with Doppelmayr CTEC to design a new, eco-Drive four-passenger chairlift for installation in 2010. The new lift will replace a double chairlift installed in 1970. The new quad eco-Drive chairlift will be the second at Welch Village and the fifth in t...

SAM Magazine--Broomfield, Colo., November 1, 2009--Vail Resorts announced that Doug Lovell was promoted to COO and VP of Keystone Resort, effective immediately. Lovell will oversee all operations for the resort and will report directly to Blasie Carrig. co-president of the company's Mountain Division. Lovell will hit the ground running since the...