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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 - Vail, Co., November 15, 2007 - It's hot! Too hot, actually. In a mirror image of last year's slow start for Eastern ski resorts, Rocky Mountain ski areas are struggling to make snow and open on time. While both Loveland and Arapahoe Basin opened in October, November has been unseasonably warm. Some resorts have been able to make due....

SAM Magazine-Calgary, Alberta, Nov. 12, 2007-Resorts of the Canadian Rockies (RCR), is giving big air a big kiss-off. "All man-made snow jumps will be eliminated from RCR terrain parks this season,"Â Matt Mosteller, senior director of business development for Resorts of the Canadian Rockies, has announced. The six-area company cited its core valu...

SAM Magazine-Mammoth Mountain, Calif., Nov. 9, 2007-More ski resorts are announcing openings by the day, if not the hour. In the Midwest, Ski Brule started winter operations Nov. 7. Another notable addition to the up-and-running club is Mammoth Mountain, which fired up the lifts on Nov. 8 and offers skiers one run with an 8- to 14-inch base of man-...

SAM Magazine-Breckenridge, Colo., Nov. 7, 200 -Skiers will have plenty to celebrate this weekend as the ski season kicks off in earnest, with resorts opening across North America. In Colorado, Arapahoe, Loveland and Copper Mountain have already been hosting skiers and snowboarders for the past few weeks, with Arapahoe Basin leading the early season...

SAM Magazine-Driggs, Id., Nov. 7, 2007-Grand Targhee Resort has purchased new employee housing just north of town here, in the Buffalo Valley Condominiums. The 16 three-bedroom, two-bath units are fully furnished and contain a washer/dryer and central vac system. Monthly rents start at $300 per employee and include Wi-Fi Internet service. Both sin...

SAM Magazine-North Vancouver, B.C., Nov. 7, 2007-Grouse Mountain is launching a groundbreaking-or at least snow-moving-program called Build Your Own Park. This gives passholders and park locals the opportunity to design the parks through a series of season-long surveys. Riders will vote on what features should be built next and provide feedback on ...

SAM Magazine-Windham, N.Y., Nov. 6, 2007-A mere eight miles apart, Hunter Mountain and Windham are offering visitors an inexpensive way to sample the disparate vibe of both with a single ticket package. The resorts are offering guests The Winter Card ($119), which gives skiers two days of skiing and riding at Hunter and two days at Windham. The dea...

SAM Magazine-Keystone, Colo., Nov. 2, 2007-Keystone's 2007-2008 season started today at 9 a.m., a week earlier than planned, thanks to more than two feet of natural snow and efficient snowmaking. Terrain park. Photo by Leisa Gibson. The mountain is operating from the River Run Village base area for the intermediate run of Spring Dipper, ...

SAM Magazine-Canmore, Alberta, Nov. 1, 2007-Colorado-based East West Partners and Morgan Stanley Real Estate have acquired Three Sisters Mountain Village, a 1,800-acre partially completed Canadian Rockies resort community near Banff, adjacent to the historic mining town of Canmore (site of Nordic events at the 1988 Olympics). East West Partners wil...

SAM Magazine-Sunday River, Me., Oct. 31, 2007-What a difference a year makes. Unlike last fall, when snowmaking across the East was stymied by unseasonably warm temperatures, this year seems to be on track. At Sunday River, where consistently cold nights have allowed the mountain to pump out the white stuff, the area is open for one day, making it ...

SAM Magazine-Denver, Oct. 30, 2007-Snowsports Industries America is moving its annual trade show to the Colorado Convention Center in Denver in 2010, ending more than three decades in Las Vegas. For SIA, the new location offers more space and a closer connection with the mountains-not to mention the higher visibility that comes with being one of t...

SAM Magazine-Green Valley Lake, Calif., Oct. 29, 2007-Trinity Mountain Resort was burned last week by the Slide fire. No lives were lost, but ten percent of the homes in Green Valley Lake were destroyed, and the one and only chairlift at Trinity was also burned. The damage could have been worse. The area had recently remodeled the base lo...

SAM Magazine - Telluride, Colo., October 29, 2007 - Dave Riley, Telluride's new CEO, is creating controversy in this southern Colorado ski town. Riley has raised eyebrows with his contention that the operators of the Mountain Village to Town gondola do not deserve a raise, as they are already getting paid too much. While the town of Telluride...

SAM Magazine-Bethel, Maine, Oct. 29, 2007-Sunday River and Sugarloaf, Maine, and Bretton Woods and Attitash, N.H., are among the handful of Eastern areas that began snowmaking operations last night. Low temperatures and humidity created good conditions for making snow. Temperatures bottomed out at 15° F. at the summit of Sunday River, while 18 h...

SAM Magazine-Red Lodge, Mont., Oct. 26, 2007-An affiliate of JMA Ventures, LLC has purchased Red Lodge Mountain Resort. JMA has, in the past eighteen months, also bought Homewood and Alpine Meadows, Calif. JMA is a San Francisco-based real estate investment company.   "We're very excited to be involved with Red Lodge Mountain Resort,...

SAM Magazine-Denver, Oct. 23, 2007-After Vail spent approximately $2 million in an attempt to prevent the American Skiing Company (ASC) from selling The Canyons ski resort to Talisker Corporation, a Denver judge has backed Talisker and ASC and nixed VR's attempts to stop the sale. ASC now plans to proceed with the sale to Talisker, and anticipat...

SAM Magazine - Whistler, B.C., October 9, 2007 - As anyone who has skied Whistler in the past decade knows, the ski resort relies on an annual influx from Down Under. If any evidence is needed, look no further than the raucous celebrations on Australia Day, where the town - and the bars - are taken over by people with funny accents and an affinity ...

SAM Magazine-Broomfield, Colo., Oct. 10, 2007-Vail Resorts, Inc. (VR) will serve natural, hormone-free meats and poultry and organic dairy products in 40 on-mountain restaurants at Vail, Beaver Creek, Breckenridge, Keystone and Heavenly during the 2007-2008 ski season. VR says it will serve more meals made with natural meats and certified organic d...

SAM Magazine-Revelstoke, B.C., Oct. 9, 2007-Revelstoke Mountain Resort, the massive development in British Columbia's interior, is expected to open on schedule by Dec. 22. Upon completion, the resort will boast the longest vertical in North America at a whopping 7,000 feet from top to bottom. For the coming season, two major lifts will serve 4,7...

SAM Magazine-Salt Lake City, Oct. 9, 2007-Utah may have another major ski resort soon. The proposed resort, 18 miles from the Salt Lake City Airport, would be a first for the Oquirrh Mountains to the west of the city. The resort would be developed by Kennecott Land, part of the Kennecott Utah Copper Company. The proposed ski area would have a b...

SAM Magazine-Arapahoe Basin, Colo., Oct. 9, 2007-Arapahoe Basin will open on Oct. 10 for the 2007-2008 ski season. This marks the Basin's earliest opening in its 61 years of operation and the second year it has been the first area in the country to open. The Exhibition chair will open to the public at 9 a.m. Skiers and riders will find an 18-inc...

SAM Magazine--October 8, 2007--Ski resorts across North America are scrambling to find workers after the H2-B visa cap was hit. The cap, which limits H2-B visas to a total of 33,000 workers was reached on October 1. While many resorts and other hospitality companies had expected that returning workers would be exempt from the cap, Congress failed t...

SAM Magazine--Salt Lake City, Utah, October 2, 2007--As of yesterday, October 1, the president of Doppelmayr CTEC, Jan Leonard has left his position. Leonard has worked in the ropeway business for more than 35 years and oversaw the merger between Doppelmayr and Garaventa/CTEC in 2001. Leonard will continue his association with Doppelmayr CTEC an...

SAM Magazine-Vail, Colo., Sept. 27, 2007-Colorado ski areas have started to blow snow. Both Loveland and Arapahoe Basin fired up the guns this week, with Copper Mountain expected to start snowmaking operations shortly. Breckenridge has announced that the ski area will start making snow in October. Loveland has traditionally been the firs...

SAM Magazine-Park City, Utah, Sept. 27, 2007-Michael Goar has been named managing director of The Canyons. He has 31 years of ski resort industry experience, most recently as executive vice president and general manager of Solitude Mountain Resort. Goar joined Solitude in 1981 and has held a variety of management positions; since 1991 he has been r...

SAM Magazine-Broomfield, Colo., Sept. 27, 2007-Vail Resorts posted a net income gain of 34.2 percent for 2007 over the 2006 fiscal year. The company netted $61.4 million in 2007, with increases across the board. Mountain revenue grew $44.9 million, or 7.2 percent, for the twelve months ending July 31, 2007, to $665.4 million from $620.4 million for...

SAM Magazine-Vancouver, B.C., Sept. 27, 2007-Charles Massicotte has been named president and CEO for Intrawest's Mont Tremblan. In this newly created position, Massicotte will be responsible for all aspects of Tremblant's resort operations, including real estate development and sales. Massicotte will report directly to Alex Wasilov, president and C...

SAM Magazine-Vancouver, B.C., Sept. 21, 2007-In an effort to promote advance bookings, Intrawest's new early-season Destination: Snow vacation package deals lure travelers with discounts up to 44 percent at Blue Mountain, Mont Tremblant, Panorama Mountain Village and Whistler Blackcomb. Prices are valid for bookings made through Nov. 15. Intra...

SAM Magazine-Angel Fire, N.M., Sept. 21, 2007-Angel Fire is embarking on a multi-million dollar facelift of the resort's 120- room base area hotel. The 18-month project starts this fall and will include a new fitness center, upscaled common areas, and four "showcase" hotel rooms providing a preview look at the finished product. The finished remodel...

SAM Magazine-Squaw Valley, Calif., Sept. 21, 2007-A trenched superpipe headlines terrain park improvements at Squaw Valley for the 2007-2008 season. The in-ground pipe will be lit for nighttime pipe riding, making it the only illuminated pipe in the Lake Tahoe area. The pipe was constructed on the site of the resort's original trenched pipe to redu...

SAM Magazine-Gavarnie, France, Sept. 21, 2007-French Pyrenees resort Gavarnie is expanding its terrain by nearly a quarter as the ski area adds 12 new runs for the 2007-08 season. The expansion brings the resort's total to 32 miles of marked trails. Additional improvements include the BuzzPark, Gavarnie's new terrain park. In other news from Fra...

SAM Magazine-Whistler, B.C., Sept. 20, 2007-Construction of Whistler's massive Peak to Peak gondola is wrapping up for the season. The project, which will link Whistler and Blackcomb mountains, is being undertaken in two phases, with the second phase occurring next summer. It's part of an extensive makeover of the resorts in anticipation of hosting...

SAM Magazine-Denver, Sept. 20, 2007-The Colorado Court of Appeals in Denver has ruled against a massive village at the base of Wolf Creek ski area. The Court upheld a lower court ruling that voided Mineral County's approval of the project, which could have resulted in approximately 2,000 units on 288 acres. Davey Pitcher, Wolf Creek Ski Area pre...

SAM Magazine-Teton Village, Wyo., Sept. 20, 2007-A Swiss crew from Doppelmayr CTEC is in the final stages of dismantling the old Jackson Hole Ski Resort tram. Crews will demolish the lower terminal of the old tram in October, and work on the new terminals will continue through the winter. The project also involves removing the tram's cable and two ...

SAM Magazine-Bethel, Me., Sept. 20, 2007-Sunday River, Sugarloaf, and Loon are offering a new New England Pass, which offers skiing and riding at all three areas. The pass results from the recent addition of Loon to Boyne USA's group of areas in New England. Â The New England Pass comes in three versions. The Bronze Pass ($369 for all ages) ...

SAM Magazine--September 19, 2007--Vail, CO--Booth Creek Ski Holdings, Inc., entered into an agreement with Boyne USA for the sale and transfer of Booth Creek's equity interests in Loon Mountain, N.H., and the Summit-at-Snoqualmie, Wash. Upon closing of the stock transfer, Loon and the Summit will continue to operate the respective resorts under lon...

SAM Magazine-The Canyons, Ut., Sept. 12, 2007-In the latest twist to The Canyons saga, Vail Resorts (VR) has sweetened its offer offer for The Canyons. VR offered an additional 30 percent of the net cash flow that VR makes off any real estate it would get in the deal. According to VR CEO Rob Katz, this could result in earnings of up to $650 million...

SAM Magazine-Park City, Ut., Sept. 12, 2007-American Skiing Company (ASC) has filed a Certificate of Dissolution with the Delaware Secretary of State in accordance with its previously announced plan of complete dissolution and liquidation. The dissolution will become effective as of Sept. 13. Trading of ASC's stock on the OTC Bulletin Board w...

SAM Magazine-Varna, Italy, Sept. 12, 2007-Kaser Srl, manufacturer of belt conveyor lifts, has restructured its North American operations as of Sept. 1, following the retirement of former U.S. general manager Bruno Beinder. Mad River Snow, Inc. is now responsible for sales in the eastern region-which stretches as far west as the Dakotas, Nebraska...

SAM Magazine-Grand Targhee, Wyo., Sept. 11, 2007-Scott Pierpont has been named general manager of Grand Targhee. Pierpont has spent more than 30 years in the the ski industry, and makes the move to Targhee from Utah where he held positions as president and managing director of The Canyons, president of the Park City Chamber of Commerce and chairman...

SAM Magazine-Scheffau, Austria, and Hafjell, Norway, Sept. 11, 2007-Austria's Ski Welt has scored another six-pack, bringing the mega-resort's total to 8. The Ski Welt, which includes Brixen im Thale, Going, Hopfgarten, Itter, Kelchsau and Söll and Westendorf, is Austria's largest lift-linked ski region. With the addition of the new detachable l...

SAM Magazine-Albany, N.Y., Sept. 10, 2007-The State of New York has given the green light to a $400 million project to develop two hotels, 259 lodging units, a conference center, spa and organic golf course upon land adjacent to the state-owned Belleayre Mountain Ski Center. The planned development will feature ski-in/ski-out opportunities and will...

SAM Magazine - Steamboat Springs, Co., September 5, 2007 - Intrawest has included Steamboat into the company's Colorado season pass offerings, allowing passholders to access Winter Park, Copper Mountain and this northern Colorado resort with a single pass. The Rocky Mountain Super Pass Plus gives skiers unlimited access to Copper and Winter Park, a...

SAM Magazine - Somerset, Pa., September, 2007 - The Buncher Company has announced that the organization has finalized the purchase of Hidden Valley Four Seasons Resort. The 1,500 acre resort was formerly owned by the Kettler family who has operated the resort since the early 1980's. Terms were not disclosed. The 1,500-acre ski area features 28 t...

SAM Magazine - Ketchum, Id., September 5, 2007 - The USFS has announced the containment of the Castle Rock fire, which burned nearly 50,000 acres and threatened the ski resort of Sun Valley. According to the USFS, mop up operations and rehabilitation of fire lines will be the primary focus of operations over the next few days. According to the U...

SAM Magazine-Sun Valley, Ida., Aug. 31, 2007-The western side of Sun Valley Ski Resort is under extreme pressure from the Castle Rock Fire, with crews struggling to prevent the unpredictable blaze from torching the ski area itself. The fire, which has kicked up several spot blazes on the resort itself, has also forced the evacuation of several Ketc...

SAM Magazine-Broomfield, Colo., Aug. 30, 2007-Skiers and snowboarders can buy four days at Keystone Resort or Arapahoe Basin for $129 with the 4-Pack pass, on sale through Oct. 14. The 4-Pack is non-transferable and must be purchased in person, and comes with major holiday blackout days-Christmas Martin Luther King, Presidents among them. The 4-Pac...

SAM Magazine-Val Gardena, Italy, Aug. 30, 2007-Val Gardena is replacing a fixed grip triple chair with a new high-speed detachable quad. The new Sole chair will have a capacity of 1,800 people an hour and is one of six being installed in the Dolomiti Superski region this summer. The Sole chair brings the total number of high-speed detachable quads ...

SAM Magazine-Wilmington, N.Y., Aug. 21, 2007-Whiteface will nearly complete development of its permitted skiing and riding options with the construction of 3.7 miles of additional terrain, for a total of 24.5 miles, by December 2008. The New York ski resort is limited to 25 miles of trails by its operating permit. Whiteface's Lookout Mountain ex...

SAM Magazine-Big Sky, Mont., Aug. 21, 2007-Big Sky has started a two-year project to increase skier access on expert-oriented Lone Peak, currently served only by the resort's Lone Peak Tram. The first stage of the project is installation of a fixed grip triple chair, the Dakota Lift, part of a two-lift system that will provide a second access po...

SAM Magazine-Tahoe City, Calif., Aug. 9, 2007-Jim Kercher is the new General Manager of Alpine Meadows Ski Resort, which was recently purchased by JMA Ventures from Powdr Corp. A long-time Californian who worked at Alpine Meadows from 1976 until 1990, Kercher has spent the last 17 years at a variety of major resorts, mostly as a ski school an...

SAM Magazine-Park City, Utah, Aug. 8, 2007-Recriminations are swirling around the $100 million July 15 sale agreement that would transfer The Canyons from American Skiing Company (ASC) to Talisker Corp. For the moment, the sale is on hold, perhaps until a Colorado court rules on a temporary injunction by Oct. 1. But eventual resolution of all the i...

SAM Magazine-Aspen, Colo., August 8, 2007-The industry took a step closer to the $100 adult day ticke last week when Aspen raised the price for a single day on the slopes during that resort's 2007-2008 season to $87, a $5 increase from last season. While $82 itself seems steep for a day of skiing, Aspen didn't have the most expensive ticket in the ...

SAM Magazine-Orlando, Fla., Aug. 8, 2007-CNL Income Properties Inc., a real estate investment trust (REIT) focused on lifestyle properties, has acquired the assets of Sugarloaf and Sunday River, Maine. In a simultaneous transaction, Boyne USA Resorts acquired the stock of the American Skiing Company subsidiaries owning the resorts and sold the asse...

SAM Magazine-Chewelah, Wash., Aug. 8, 2007-49 Degrees North has obtained $45 million in funding from Pacific Northwest real estate venture capital firm US Resort Venture, LLC. The 2,450-acre resort is expected to undergo several phases of development, featuring a 40-acre village as well as a variety of lodging and residential properties. The ski...

SAM Magazine-Hancock, Mass., Aug. 8, 2007-Jiminy Peak's wind turbine, installed over the summer as part of a green initiative, has begun operation. Named the Zephyr following a contest that involved locals and passholders, the turbine is expected to produce an average of 5,000 kWh per day for a total of 150,000 kWh during the month of August. With ...

SAM Magazine-Tahoe City, Calif., July 31, 2007-San Francisco-based real estate investment firm JMA Ventures has completed its purchase of Alpine Meadows. No sale price has been disclosed. Art Chapman,president of JMA Ventures, has a vested interest in the area. "My family and I have skied here for decades. My kids grew up skiing here," he said. ...

SAM Magazine-Salt Lake City, July 31, 2007-Online Media, host of the popular First Tracks!! Online Ski Magazine, is launching UtahSkiAndSnowboard.com, a new digital magazine focused on the Utah ski and snowboard experience. "Utah has the best skiing and riding in the nation, and probably the world," said Marc Guido, UtahSkiAndSnowboard.com's edi...

SAM Magazine-Wrightwood, Calif., July 24, 2007-Mountain High has become the latest addition to the CNL resort stable. CNL Income Properties, Inc., has purchased Mountain High for $45 million from Valor Equity Partners. Current management remains in place, with a 20-year lease with the option of two 10-year renewals. Karl Kapuscinski, president o...

SAM Magazine-Newry, Me., July 23, 2007-Sunday River and Sugarloaf, Me., will offer a joint season pass next season. The new pass will debut Aug. 15, with prices starting at $299 for restricted mid-week passes and maxing out at $799 for an adult non-restricted pass. The two resorts were recently purchased by Boyne USA from American Skiing Company. ...