News Search
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—Vernon, N.J., Aug. 22, 2017—SNOW Operating has entered into a long-term partnership with Mountain Creek Ski Resort, N.J., to manage the resort’s winter ski, snowboard, and snow tubing businesses, as well as the mountain biking operation in summer. As part of the agreement, SNOW Operating CEO Joe Hession is now the resort president. The rest of the team will be transitioning into the role over the next few months with the resort’s owners, the Koffman family of Binghamton, N.Y.
SAM Magazine—Denver, Colo., and Park City, Utah, Aug. 21, 2017—After a short breather from ski resort ownership consolidation, the newly formed entity of KSL Capital Partners and Aspen SkiCo is at it again—this time entering into a definitive agreement to acquire Deer Valley Resort in Park City, Utah. Financial terms of the transaction were not disclosed. The transaction is subject to certain closing conditions and is anticipated to close prior to the upcoming 2017-18 ski season.
SAM Magazine—Denver, Aug. 18, 2017— According to the most recently released data from the Monthly Market Briefing compiled by DestiMetrics, an Inntopia company, lodging occupancy for the full summer is up only a slight 0.4 percent. However, strong gains in the Average Daily Rate (ADR) at those same properties have boosted summer revenues 7.7 percent compared to the same time last year. The report covers 20 destinations and 290 lodging companies in the Western U.S.
SAM Magazine—Natick, Mass., Aug. 17, 2017—Registration for SAM’s eighth annual Summer Ops Camp—a series of seminars, workshops, and site visits that explore the state of the art in summer operations—closes Aug. 25. A few spots are still available for the Camp, Sept. 5-7 at Killington, Vermont.
SAM Magazine—Boulder, Colo., Aug. 16, 2017—As it undergoes a multi-million dollar capital development, including the installation of a new six-passenger chairlift, Eldora Mountain Resort unveiled its new branding and a “Closer to You” campaign, which celebrates the mountain’s 56-year history as Boulder County’s mountain playground.
SAM Magazine—Princeton, Mass., Aug. 16, 2017—Season pass partnerships between unaffiliated resorts continue to evolve in a variety of ways. One of the newest is between Wachusett Mountain, Mass., and Stratton, Vt.
SAM Magazine—Glenwood Springs, Colo., Aug. 1, 2017—Season pass holders at Sunlight Mountain Resort can now receive three free ski days at Kiroro ski area on Japan’s North Island as Sunlight expands its global alliances. Passholders can also access more free ski days at areas in Alaska, Colorado, Idaho, Wyoming, and Washington.
News of staff changes and hires at resorts, suppliers, and the National Parks Service.
SAM Magazine—Broomfield, Colo., Aug. 1, 2017—Geoff Buchheister, previously vice president for Vail Resorts’ urban ski areas, is now vice president and general manager for Keystone Resort. He succeeds Mike Goar, who is transitioning to COO at Heavenly Mountain Resort, with additional oversight of the company’s Kirkwood Mountain and Northstar California resorts.
SAM Magazine—Denver, Aug. 1, 2017—The as-yet-unnamed joint venture of KSL Capital Partners and the owner of the four Aspen resorts, Henry Crown and Company, has completed its $1.5 billion purchase of Intrawest Resort Holdings. Upon closing of the deal, Thomas Marano, Intrawest's chief executive officer, resigned his position, KSL's Bryan Traficanti was named interim chief executive officer, and Aspen’s David Perry was named president and chief operating officer. A search for a new chief executive officer is underway.
SAM Magazine—Broomfield, Colo., July 25, 2017—Inspired by the environmental commitment of Whistler Blackcomb, a recent Vail Resorts (VR) acquisition, VR will aggressively pursue a comprehensive sustainability commitment across all its resorts, called “Epic Promise for a Zero Footprint.” The pledge commits VR to zero net emissions by 2030, zero waste to landfill by 2030, and zero net operating impact to forests and habitat.
SAM Magazine—Breckenridge, Colo., July 25, 2017—Breckenridge held the grand opening of Epic Discovery at Alpine Camp last week, marking the expansion of its summer offerings. Guests were treated to a scenic ride up the Colorado SuperChair on Peak 8 for the debut of Breck’s Gold Summit Climbing Wall, along with the resort’s observation tower and interpretive hiking loop. An aerial adventure course at Alpine Camp will follow later this summer.
SAM Magazine—Lakewood, Colo., July 21, 2017—Wells Fargo has entered into an agreement with USI Insurance Services to sell Wells Fargo Insurance Services (WFIS), inclusive of the Safehold Special Risk program business. Terms of the transaction were not disclosed.
SAM Magazine—Silverton, Colo., July 21, 2017—As Silverton Mountain begins its 16th year, the resort has teamed with six other ski areas that will give Silverton passholders 20 days of free skiing during the 2017-18 ski season.
SAM Magazine—Denver, July 21, 2017—While occupancy at Western mountain destinations for the summer months (May through October) is up a mere 0.2 percent year-over-year, aggregated revenues as of June 30 jumped 8.4 percent from the same period a year ago, thanks to robust gains in average daily rate (ADR). Occupancy for the month of June dipped 0.5 percent, but revenues were up 6.5 percent, according to Inntopia’s monthly DestiMetrics Market Briefing.
SAM Magazine—Franklin, Wis., July 19, 2017—Schmitz Brothers LLC, which operates Little Switzerland and Nordic Mountain ski areas in Wisconsin, has reached a purchase agreement and long-term lease deal with ROC Ventures to take over ski hill operations of The Rock Snow Park in Franklin, Wisconsin.
SAM Magazine—Aspen, Colo., July 19, 2017—Aspen Skiing Company’s chief operating officer, David Perry, left the company Monday to become a full-time consultant in launching the as-yet-unnamed SkiCo/KSL Capital Partners joint venture, which recently got the green light from regulators to move forward with its acquisitions of Intrawest and Mammoth Resorts.
SAM Magazine—North Vancouver, B.C., July 19, 2017—Grouse Mountain in North Vancouver has been acquired by GM Resorts, a company that was just incorporated in March by CM Asset Management Co. Ltd. (CM Canada). The rumored $200 million price tag was not confirmed in a news release announcing the deal. See SAM’s earlier report about the sale HERE.
SAM Magazine—Orlando, Fla., July 19, 2017—Accesso Technology Group plans to acquire The Experience Engine (TE2) in a deal valued at around $80 million, which is the largest acquisition in the company’s history. Both technology companies currently serve leisure, attraction, and hospitality operations around the world, including ski resorts, theme parks, hotels, quick service food, and healthcare, among others.
SAM Magazine—Claysburg, Pa., July 18, 2017—Sustainable Hospitality and Development, a limited partnership formed by a group of six investors from Pittsburgh, has purchased Blue Knob All Seasons Resort in Pennsylvania. The group acquired the resort from Richard Gauthier, 79, whose family purchased Blue Knob in 1983. The sale is not expected to disrupt operations.
SAM Magazine—North Vancouver, B.C., July 17, 2017—After its owners put it on the market last year, Grouse Mountain near Vancouver appears to have found a buyer. Citing sources familiar with the transaction, The Globe and Mail reported last week that the China Minsheng Investment Group, which is connected to the Chinese central government, is buying the resort for $200 million. The transaction is expected to close in the coming days.
SAM Magazine—Wrightwood, Calif., July 11, 2017—The Powder Alliance reciprocal pass program has added La Parva, Chile, and Bogus Basin, Idaho, to its list of participating resorts for the 2017-18 winter, bringing the total to 16 resorts in four countries. Anytime season passholders at any of the participating resorts get three free days at the other 15.
Robert Ward Parker, a 10th Mountain Division veteran who became a major figure in the post-World War II ski industry, died June 29 in Grand Junction, Colo., at the age of 94.
SAM Magazine—Denver, July 10, 2017—Denver will host the winter and summer Outdoor Retailer trade shows for the next five years, industry and elected officials said last week. Starting in January 2018, show organizer Emerald Expositions will host three shows in Denver each year—the OR Summer Market, plus the combined Winter Market + Snow Show in January, and a new apparel-oriented OR Winter Market in November.
SAM Magazine—Biwabik, Minn., July 10, 2017—Giants Ridge in northern Minnesota has hired industry veteran Fred Seymour as its new general manager. Seymour’s prior experience includes time as senior manager of alpine services for Hyland Hills Ski Area in the Three Rivers Park District in Bloomington, Minn., as well as general manager and consultant for four Denver-based properties. Most recently, Seymour was general manager at Hidden Valley Ski Area in Missouri.
Welcome to the July edition of Snow People, where we highlight happenings to prominent ski industry and supplier personnel.
SAM Magazine—Concord, N.H., June 29, 2017—Legendary ski racer and ski industry pioneer Tom Corcoran died at his home in South Carolina on Tuesday. He was 85.
SAM Magazine—Broomfield, Colo., June 28, 2017—Vail Resorts (VR) has appointed Mike Goar, current vice president and chief operating officer of Keystone Resort, Colo., to be Heavenly Mountain Resort chief operating officer, with additional oversight of the company’s Kirkwood Mountain and Northstar California resorts. He will assume his new responsibilities later this summer.
SAM Magazine—Lakewood, Colo., June 28, 2017—After being without an executive director for several months following the departure of John McMahon, the National Ski Patrol has hired Meegan Moszynski to lead the organization. She will begin her new role July 17.
SAM Magazine—Portland, Maine, June 28, 2017—At a press conference today in Portland, another new suitor for Maine’s shuttered Saddleback Mountain Resort came forward and announced its intention to purchase the ski area from the Berry family. The Australian-based Majella Group has signed an asset purchase agreement to acquire Saddleback, including the resort, base lodge, ski lifts, and surrounding property, totaling 6,337 acres. The deal is expected to close later this summer. Saddleback hasn’t operated since the 2014-15 season.
SAM Magazine—Burlington, Vt., June 27, 2017—With an eye on expanding the 4FRNT brand while keeping the company privately owned, ski innovator and 2002 SAMMY Award winner Jason Levinthal will acquire the assets of ski designer and manufacturer 4FRNT Skis Inc., based in Salt Lake City. The transaction is expected to close in early July.
SAM Magazine—Tannersville, Pa., June 26, 2017— Camelback Mountain Adventures debuted a newly redesigned Alpine Slide this past weekend. The newest version of the Slide, updated by Camelback co-owner and Alpine Slide manufacturer Aquatic Development Group (ADG), includes a new track material and new carts, but with the traditional bobsled-like ride.
SAM Magazine—Aspen Snowmass, Colo., June 23, 2017—Summer operations are about to become a big deal at Aspen Snowmass. The resort plans to install a mountain coaster, zip line canopy tour, aerial adventure course, and climbing wall, and add miles of new hiking and biking trails. Most features are slated to open by summer 2018, part of the new Lost Forest located on Snowmass Mountain.
SAM Magazine—Wildwood, Mo., June 22, 2017—Following a mild winter in the Midwest, Peak Resorts still expects to report record revenue of $120 to $125 million, and record EBITDA of $26 to $27 million for the year ended April 30, 2017. The company also plans to apply for permits to expand skiable terrain at Hunter Mountain, N.Y., and add a zip tour at Hidden Valley, Mo.
SAM Magazine—Whistler, B.C., June 16, 2017—Vail Resorts has appointed Pete Sonntag, the current senior vice president of the company’s Lake Tahoe region, to become chief operating officer of Whistler Blackcomb. Sonntag will start this summer, once his Canadian work visa is approved.
SAM Magazine—Jackson Hole, Wyo., June 16, 2017—The MTBparks Pass, which offers lift and trail privileges at more than 30 bike parks across North America, is the first and only one of its kind for mountain bikers. Now in its fourth year, the pass gives members one free day of riding at each park, as well as additional benefits such as discounts on lift tickets during subsequent visits at many participating parks, deals on bike shop retail and rentals, and more.
SAM Magazine—Denver, June 15, 2017—Colorado Ski Country USA’s (CSCUSA) 22 member ski areas totaled 7.3 million visits during the 2016-17 season. That’s down slightly from last year’s record 7.4 million. It is estimated that after final numbers are tallied, the 2016-17 season will be the state’s second best season on record. This year’s season total was up six percent over the five-year average, marking the fourth consecutive year that skier visits at CSCUSA resorts have outperformed the five-year average.
SAM Magazine—North Conway, N.H., June 15, 2017—During the 2016-17 winter season, Ski NH’s 34 member areas reached 2,357,609 visits for alpine and Nordic skiing, snowboarding, and tubing; an increase of 33 percent over the prior year. Ski NH presented the visit totals at its annual conference at the Red Jacket Mountain View Resort here on Monday.
SAM Magazine—Killington, Vt., June 15, 2017—After a challenging 2015-16 season, Vermont’s alpine and Nordic ski areas came back to tally 3,922,970 visits, the Vermont Ski Areas Association said at its 48th Annual Meeting here.
SAM Magazine—Salt Lake City, June 14, 2017—This past Sunday, June 11, Snowbird resort finally stopped spinning the lifts for the year – ending an eight-month 2016-17 season in which Utah areas totaled, 4,584,658 million skier days, up 2.85 percent from the previous record of 4,457,575 during the 2015-16 season. This year’s number represents an 8.35 percent increase vs. Utah’s five-year average of 4,231,276.
SAM Magazine—Boyne Falls, Mich., June 14, 2017—Boyne Resorts is partnering with Inntopia to enable the multi-resort group to offer its many lodging and activity options in a single, easy-to-use interface on the resorts’ websites.
SAM Magazine—Broomfield, Colo., June 9, 2017—Vail Resorts closed on its acquisition of Stowe Mountain Resort in Vermont on Wednesday. Stowe, VR’s first East Coast property, is also now included on the company’s $859 Epic Pass for the 2017-18 winter season.
SAM Magazine—Lakeside, Mont., June 9, 2017—After 19 years in operation, Blacktail Mountain Ski Area in northwestern Montana is up for sale, at an asking price of $3.5 million. The four partners who own it are looking for new owners who will be able to realize the mountain’s potential.
Welcome to the June edition of Snow People, where we highlight happenings to prominent people in the mountain resort industry.
SAM Magazine—Price Township, Pa., May 31, 2017—Alpine Mountain in Pennsylvania has new owners for the fourth time in the last 10 years after Jim and Linda Schlier closed on the property last week for the price of $412,500. The Schliers, though, don’t plan to operate the mountain as a ski area.
SAM Magazine—Hoboken, N.J., May 26, 2017—Kohlberg & Company has purchased K2, Marker, Dalbello, and the rest of the winter sports businesses formerly owned by Newell Brands Inc. Gross proceeds to Newell from the divestiture are expected to be $240 million, subject to customary working capital and transaction adjustments.
SAM Magazine—Whistler, B.C., May 24, 2017— Whistler Blackcomb Resort chief operating officer Dave Brownlie has decided to step down from his role and pursue other endeavors following a career at the resort that spans nearly three decades.
SAM Magazine—San Juan Capistrano, Calif., May 24, 2017—Emerald Expositions, LLC, a wholly owned subsidiary of Emerald Expositions Events, Inc., producer of business-to-business trade shows and conferences, including Outdoor Retailer, has acquired the SIA Snow Show from SnowSports Industries America (SIA).
SAM Magazine—Mullan, Idaho, May 24, 2017—Phase I of Lookout Pass’ master development plan has been approved by U.S. Forest Service officials, and work can begin as early as this summer on projects that will total about $10 million over the next few years, including terrain expansion, new chairlifts, an addition to the base lodge, and more parking.
SAM Magazine—Denver, May 18, 2017—Overall aggregated occupancy during the 2016-17 winter season—November through April—declined 0.2 percent, marking the first seasonal dip in winter occupancy since the 2011-12 ski season. In contrast, aggregated revenues were up a strong 7.2 percent, with double-digit growth recorded during the month of December. The data was released yesterday by Denver-based DestiMetric’s as part of its monthly Market Briefing.
SAM Magazine—Denver, May 18, 2017—The board of directors of Snowsports Industries America (SIA) have unanimously approved the sale of the SIA Snow Show to Emerald Expositions, which runs the Outdoor Retailer (OR) Winter and Summer Markets, for $16.67 million. The sale must still be approved by SIA’s 100 or so premium members, who have until May 24 to vote on the proposal.
SAM Magazine—Vernon, N.J., May 17, 2017—The owner of Mountain Creek, Mountain Creek Management LLC, is seeking Chapter 11 protection. The company hopes to restructure its debt while maintaining daily operations, including opening the Mountain Creek Waterpark next month.
SAM Magazine—Denver, May 12, 2017—An unusual combination of circumstances led to the fatal chairlift accident on the Quick Draw Express at Granby Ranch last December 29, according to the final report by Colorado state investigators, released Thursday afternoon.
SAM Magazine—Denver, May 11, 2017—The Denver Post resort business reporter Jason Blevins pored through Intrawest’s 273-page PREM 14C, a preliminary information statement relating to a merger or acquisition that the company filed with the Securities and Exchange Commission, and found some pretty neat stuff regarding the deal—and the value of several other recent transactions as well.
SAM Magazine—Juneau, Alaska, May 11, 2017—The community-owned Eaglecrest Ski Area here has appointed David Scanlan as its new general manager. Scanlan has been the GM of Mt. Abram, Maine since 2013. He is scheduled to start in his new position June 26.
SAM Magazine—Scottsdale, Ariz., May 9, 2017—At last weekend’s National Ski Areas Association (NSAA) annual convention in Scottsdale, the organization presented 2017 Lifetime Achievement Awards to NSAA president Michael Berry and The Fairbank Group’s founder and chairman, Brian Fairbank.
SAM Magazine—Lakewood, Colo., May 10, 2017—U.S. ski areas tallied an estimated 54.7 million skier and snowboarder visits during the 2016-17 season, up 3.7 percent from last season’s 52.8 million total, according to preliminary results of the National Ski Areas Association (NSAA) Kottke Report.
SAM Magazine—Scottsdale, Ariz., May 9, 2017—Berkshire East, Mass., Taos Ski Valley, N.M., and Squaw Valley Alpine Meadows, Calif., won the 2017 Golden Eagle Awards for Environmental Excellence, presented by SKI Magazine. In addition, SKI named Onno Wieringa of Alta Ski Area, Utah, the “Hero of Sustainability” for 2017. This marks the 25th year for the Golden Eagle awards, which recognize resorts that actively address environmental issues.
SAM Magazine—Thompsonville, Mich., May 4, 2017—Chris MacInnes has become president of Crystal Enterprises Inc., which operates Crystal Mountain, Mich. John Melcher succeeds MacInnes as COO.
SAM Magazine—Stowe, Vt., May 2, 2017—Vail Resorts, Inc. is appointing Bobby Murphy as vice president and general manager of Stowe Mountain Resort, effective at the close of VR’s acquisition of Stowe, which is expected in June. He will replace Barry Pius.
