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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—Park City, Utah, Sept. 18, 2018—The U.S. Ski and Snowboard Hall of Fame introduced the Class of 2018 last Friday in Ishpeming, Mich. Inductees include resort veteran Bill Jensen, longtime U.S. Ski & Snowboard spokesman Tom Kelly, Olympians Bode Miller and Andrew Weibrecht, two high-profile women athletes—moguls champion Hilar...
SAM Magazine—Londonderry, Vt., Sept. 19, 2018—Magic Mountain has created an unusual, peak-season pass product specifically for Christmas-New Year’s, MLK weekend, and President’s week. Called the White Out holiday pass ($239-$279), it’s aimed at skiers and riders who want a deal over the holidays, as well as those who may have bought a dis...
SAM Magazine—Denver, Sept. 18, 2018—Summer lodging business in Western mountain destinations remained strong despite wildfires and smoke in July and August, and winter bookings have continued that trend, according to the monthly DestiMetrics Market Briefing. DestiMetrics data for Western resorts comes from 290 property management compani...
The theme “Summer Ops 2.0” prevailed at SAM’s ninth annual Summer Ops Camp Sept. 4-6 at Aspen Snowmass, Colo. More than 150 resort professionals and industry suppliers from around the world came ready to listen, learn, and experience summer programming. With a focus on business and equipment trends, safety, planning, as well as on-brand appro...
Resorts look to ease congestion and meet increasing demand with capital improvements.Concrete being poured for a lift tower footing for Winter Park's new gondola. The snowsports industry has seen a recent influx of cash, and resorts across the country are making massive capital improvements. The money is being spent in a variety of ways—resorts ...
SAM Magazine—Stratton, Vt., Sept. 12, 2018—Stratton Mountain Resort and The North American Snowsports Journalists Association (NASJA) will present the 2018 Northeast Winter Weather Summit, Dec. 2-4 at Stratton Mountain, Vt. The two-day event will bring together meteorologists, resort associates, varied ski industry businesses, journalists, and ...
SAM Magazine—Denver, Sept. 12, 2018—Shortly after Alterra Mountain Company revealed its intent to purchase Crystal Mountain Resort, Wash.—and before the transaction has closed—the company said it plans to name current Snowshoe, W.Va., president and COO Frank DeBerry as Crystal’s new president and COO once everything is finalized. “It...
SAM Magazine—Wildwood, Mo., Sept. 12, 2018—Peak Resorts reported revenue of $7 million during its 2019 first quarter, comprised of the three months ended July 31, down from $7.5 million during the same period a year ago. Operating expenses rose 5.4 percent year over year to $14.3 million, and the company reported a net loss of nearly $11.8 mill...
SAM Magazine—Natick, Mass., Sept. 7, 2018—HKD Snowmakers has acquired the controls, monitoring and automation business of Sno.matic Controls and Engineering, a company that specializes in providing products that monitor snowmaking systems andSno.matic president Scott Barthold (left) with HKD president Charles Santry automatically control pump s...
SAM Magazine—Revelstoke, B.C., Sept. 7, 2018—Dave Brownlie has been named Revelstoke Mountain Resort’s new president. Brownlie started his industry career nearly 30 years ago as Blackcomb Mountain’s director of finance and eventually became Whistler Blackcomb president and CEO, and finally COO. He stepped down from that role more than a yea...
SAM Magazine—Denver, Sept. 7, 2018—Less than three weeks after Vail Resorts closed on its acquisition of Stevens Pass in Washington, Alterra Mountain Company has entered into an agreement to purchase Crystal Mountain Resort, located about three hours south of Stevens. The acquisition would bring Alterra’s portfolio to 13 mountain resorts in N...
SAM Magazine—Aspen Snowmass, Colo.—Sept. 6, 2018—With its national advertising campaign—Give A Flake—Aspen Snowmass once again departs from traditional ski resort marketing. The campaign invites guests and fellow travelers to join the resort in acting on behalf of climate change and equal rights. It is a continuation of last season’s As...
SAM Magazine—Boise, Idaho, Aug. 30, 2018—Ripe for a no-frills ski/ride/telemark/cat ski ownership opportunity? You’re in luck: Soldier Mountain, Idaho, is up for sale—again. The area could be just the ticket for an enterprising individual or family who wants to run a ski area and earn an income that allows them to enjoy a skiing lifestyle. ...
SAM Magazine—Denver, Aug. 29, 2018—This week’s multi-day reveal of additional resorts included on Alterra Mountain Company’s Ikon Pass continues, with today’s door opening on the four remaining Boyne Resorts ski areas previously not included, and news of expanded access to three others. The Summit at Snoqualmie, Wash., Cypress Mountain, ...
SAM Magazine—Denver, Aug. 27, 2018—The Ikon Pass has added Solitude Mountain Resort, following Alterra’s closing on this acquisition earlier this month, and added neighboring Brighton Resort as an Ikon partner. This brings Ikon’s five Utah connections—Solitide as a full unlimited access member, and Deer Valley, Alta/Snowbird and Brighton ...
SAM Magazine—Boyne Falls, Mich., Aug. 27, 2018—Three Boyne Resorts executives have been selected to lead operations for the company’s portfolio, based on geography and business specialty. Rick Kelley, previously senior vice president of mountain operations, has been appointed chief operating officer of eastern and Michigan mountain resorts. J...
SAM Magazine—Manchester, N.H., Aug. 27, 2018—The Fairbank Group labor audit and subsequent recent publicity appear to indicate a heightened focus on child labor laws. That’s noteworthy, as it coincides with historically tight labor markets nationwide and uncertainty over the status of J-1 and H-2b foreign worker visas in the Trump administrat...
SAM Magazine—Durango, Colo., Aug. 23, 2018—The southwest region’s only mountain coaster is making its debut this Saturday, Aug. 25, at Purgatory Resort, Colo. The Inferno Mountain Coaster, built by Aquatic Development Group, is located in the base area and will be a summer and winter attraction at the resort. The Inferno is 4,000 feet long w...
SAM Magazine—Park City, Utah, Aug. 22, 2018—Following the departure of Gail Barille, the National Ability Center’s (NAC) chief executive officer for the last eight years, former NAC chief operating officer Kevin Stickelman has been appointed by the board of directors as interim CEO. Stickelman joined NAC two years ago as its first COO. Prior...
SAM Magazine—Denver, Aug. 22, 2018—As of July 31, the midpoint of the summer season for western mountain destinations, occupancy growth is slowing slightly, but overall metrics continue to edge upward toward a seventh consecutive record summer, according to Inntopia’s monthly DestiMetrics Market Briefing. The Market Briefing aggregates lodgi...
SAM Magazine—Lakewood, Colo., Aug. 21, 2018—How much access to foreign workers will U.S. resorts have under the J-1 and H-2b programs this winter? According to NSAA’s monthly Capital Watch, hiring conditions could be favorable. Both houses of Congress are preparing legislation that would protect current levels of foreign workers or even expan...
This is the August edition of Snow People, where we highlight happenings to prominent people in the mountain resort industry. Sunday River, Maine Sunday River has made a variety of staff changes, elevating several members of its team to new positions. Jim Largess was promoted to executive director of the Sunday River Community Fund. Largess join...
SAM Magazine—Natick, Mass., Aug. 21, 2018—Registration for SAM’s ninth annual Summer Ops Camp—a series of seminars, on-hill workshops, demos, and networking events that explore the current state of mountain resort summer operations—closes Saturday, Aug. 25. A few spots are still available for Camp, Sept. 4-6 at Aspen Snowmass, Colo. Here...
SAM Magazine—Park City, Utah, Aug. 17, 2018—Deer Valley’s longtime leader and current president and chief operating officer Bob Wheaton will be transitioning into a senior strategic advisory role with the resort’s owner, Alterra Mountain Company. Hospitality Bob Wheatonindustry veteran Todd Shallan will be Wheaton’s successor, working alo...
SAM Magazine—Broomfield, Colo., Aug. 17, 2018—Vail Resorts this week closed on its acquisition of Stevens Pass Resort in Washington from Ski Resort Holdings, LLC, an affiliate of Oz Real Estate. The final purchase price, after adjustments for certain agreed-upon terms, was $64 million. The 2018-19 Epic Pass, Epic Local Pass, Epic Australia Pas...
SAM Magazine—Iron Mountain, Mich., Aug. 15, 2018—An anonymous buyer recently purchased Pine Mountain Ski & Golf Resort in Iron Mountain, Mich., and has already begun making improvements to the year-round resort while business operations continue uninterrupted. The same anonymous buyer also purchased the nearby Four Seasons Resort, a hotel a...
SAM Magazine—Olympic Valley, Calif., Aug. 15, 2018—Ron Cohen is now officially president and chief operating officer of Squaw Valley Alpine Meadows after four months of serving in the position in an interim capacity. Cohen succeeds Andy Wirth, who vacated Ron Cohen, president and COO of Squaw Valley Alpine Meadows. Photo: Ben Arnstthe position ...
SAM Magazine—La Conner, Wash., Aug. 13, 2018—The Pacific Northwest Ski Areas Association (PNSAA) has hired Jordan Elliott to succeed John Gifford as the association’s president. Elliott will begin transitioning into the new role in mid-October, and officially take the seat on Jan. 1, 2019, after Gifford retires on the last of the year. Giffor...
SAM Magazine—Jeffersonville, Vt., Aug. 10, 2018—Resorts are investing bigtime in their summer operations. It seems to be paying off: Despite wildfires and wet weekends, summer business levels across North America seem to be steady. Many resorts have reported slight growth, and those who are off target are only shy by a small percentage. In both...
SAM Magazine—Denver, August 7, 2018—Longtime finance industry executive Tim Donahue has been appointed as Alterra Mountain Company’s new chief financial officer and executive vice president. Donahue spent the last 19 years at JPMorgan Chase & Co., most recently serving as head of the company’s Leveraged Finance Capital Markets Group, he...
SAM Magazine—Newbury, N. H., July 26, 2018—Vail Resorts representative Pat Campbell spoke to an audience of around 100 people at an information session last night regarding the proposed lease transfer of Mount Sunapee to Vail Resorts. Campbell discussed the benefits the company could provide both the resort and the community, citing Vail’s charitable work, commitment to sustainability, and strong existing roster of resorts.
SAM Magazine—Big Bear, Calif., July 26, 2018— Big Bear Mountain Resort (BBMR) has named Wade Reeser as its new chief operations officer. Reeser was raised in Big Bear Valley and has been with BBMR for 25 years. He has served in numerous roles within the company; most recently, he was the resort’s general manager, overseeing BBMR during its integration into the newly formed Alterra Mountain Company.
SAM Magazine—Jamesville, N.Y., July 26, 2018—Ski Areas of New York, Inc. (SANY) and the New York State Energy Research and Development Authority (NYSERDA) have collaborated on a new program to help ski areas in the state purchase energy-efficient snowmaking guns. The program will provide up to $5 million for New York ski areas to upgrade and ex...
Snow People is where we highlight recent happenings to prominent people in the mountain resort industry.
SAM Magazine—Denver, July 17, 2018—June occupancy and revenues continued to climb, keeping summer 2018 on pace to reach record levels in mountain destinations across the West, according to the latest DestiMetrics Market Briefing. Actual occupancy for the month was up a robust 7.9 percent compared to June 2017. Bolstered by a 3.3 percent increas...
SAM Magazine—Kelowna, B.C., July 17, 2018—Jimmie Spencer, who led the Canada West Ski Areas Association for 32 years, died July 16 in Vernon, B.C., at age 92. He led CWSAA from 1979 through 2011.“Likely his greatest legacy … will be the generation of leadership and cooperative culture he expected and created between competitors to establish...
SAM Magazine—Wildwood, Mo., July 16, 2018—Peak Resorts reported record revenue of $56 million for its fiscal 2018 fourth quarter ending April 30, a 9 percent increase over the same period last year. Reported EBITDA edged up 4 percent to $21.5 million. For the year as a whole, revenues rose to $131.6 million compared to $123.2 million a year ago...
SAM Magazine—Eden, Utah, July 16, 2018—The operators of Nordic Valley, Mountain Capital Partners (MCP), are floating the idea of a massive expansion that would grow Utah’s smallest ski area from 140 skiable acres to more than 2,800. The proposal for the expansion into the Uinta-Wasatch-Cache National Forest includes a 4.3-mile-long gondola pl...
SAM Magazine—Newport, Vt., July 11, 2018—Vermont attorney general T.J. Donovan said in a press conference today that the state has settled its civil lawsuit against former Jay Peak owner Ariel Quiros and former Jay Peak CEO Bill Stenger. The case has been pending since 2016 after the two men were accused of misappropriating millions of dollars ...
SAM Magazine—Woodbury, Conn., July 12, 2018—The SAM Summer Ops Camp has added several sessions that reflect the needs of summer ops 2.0, the next evolution of this growing business. Focused on programming, operations, marketing and risk management, these sessions can help winter resorts become more knowledgeable and sophisticated about summer o...
SAM Magazine—Government Camp, Ore., July 11, 2018—R.L.K. and Company, operator of Timberline Lodge and Ski Area, has purchased Summit Ski Area in Government Camp, Ore., which is located on Mt. Hood less than six miles from Timberline. Included in the sale is Snow Bunny, a snow play area and parking lot, approximately 1.5 miles east of Governmen...
SAM Magazine—Steady Brook, Newfoundland, Canada, July 9, 2018—The Newfoundland and Labrador government, which owns and operates Marble Mountain Ski Resort, has issued a request for proposals (RFP) from potential private investors, operators, or even new owners for the resort. According to reports, Marble Mountain hasn’t turned a profit in yea...
SAM Magazine—Government Camp, Ore., June 25, 2018—Industry veteran Mike Quinn has been hired to lead Mt. Hood Skibowl as its new vice president and general manager. This is a return to Skibowl for Quinn, who served as the resort’s operations manager from 1992 to 2000. He brings 32 years of ski industry experience to his new position. Most re...
SAM Magazine—Flagstaff, Ariz., June 25, 2018—The threat of wildfires in the west has prompted the U.S. Forest Service to close access to several areas of public lands, including access to some businesses that operate through permits in public lands. This includes Arizona Snowbowl, which was ordered to close summer operations a few days before M...
SAM Magazine—Denver, June 25, 2018—Alterra Mountain Company is gradually covering all its competitive bases, the most recent being a pass partnership with Thredbo, Australia. This is the first resort outside of North America to be included on the Ikon Pass, and inserts the company into a market that, until now, was only occupied by Vail Resorts...
SAM Magazine—Eagle, Colo., June 21, 2018—A jury ruled in favor of Vail Resorts on June 20 in the wrongful death trial of 13-year-old Taft Conlin, who was killed in an in-bounds avalanche at Vail in 2012. Vail’s ski patrol had closed the upper Prima Cornice run, but a lower entry to the slope had remained open. Conlin had entered and climbed up toward the cornice when the avalanche occurred. Conlin’s parents, Dr. Louise Ingalls and Dr. Stephen Conlin, had sued the ski company for negligence, saying the resort had violated Colorado’s Skier Safety Act because it did not close the run properly.
SAM Magazine—Wrightwood, Calif., June 21, 2018—Colorado’s Monarch Mountain—one of the pioneers in season pass partnerships—has joined the Powder Alliance, becoming the 20th mountain resort to be a part of the reciprocal pass partnership.
SAM Magazine—Waltham, Mass., June 21, 2018—BEWI Productions, Inc., the organizer of the Colorado Ski and Snowboard Expo, has partnered with Sun & Ski as the exclusive retailer for this year’s event, Nov. 16-18 at the Colorado Convention Center. Sun & Ski has recently expanded to Colorado, opening shops in Avon and Dillon, with more lo...
SAM Magazine—Vail, Colo., July 30, 2018—Vail has become the first U.S. destination and the first mountain resort in the world to achieve certification as a "sustainable destination" by Sustainable Travel International. Certification efforts took more than five years, and required work and involvement by the resort, the town of Vail, and the U.S...
SAM Magazine—Natick, Mass., June 20, 2018—Registration is open for SAM’s ninth annual Summer Ops Camp, a series of seminars, workshops, and site visits that explore the state of the art in summer operations. Camp also provides a great opportunity to get hands-on with a wide range of summer activities, and to explore product offerings with a d...
SAM Magazine—Salt Lake City, Utah, June 18, 2018—Despite limited help from Mother Nature during the 2017-18 ski season, Utah ski areas posted their sixth-best season in terms of skier visits. Starting Nov. 21 at Brighton Resort and ending May 13 at Snowbird, visits for the season totaled 4,145,321—down 9.6 percent from last season’s all-tim...
SAM Magazine—Jackson, Wyo., June 18, 2018—As part of its master development plan, Snow King Mountain Resort (SKMR) intends to build an on-site facility that will house approximately 50 seasonal employees. The Jackson town council must approve the plan before construction can begin. SKMR hopes to start building it by 2020. The site for the prop...
Snow People is where we highlight recent happenings to prominent people in the mountain resort industry.
SAM Magazine—June 14, 2018—As winter weather remains unpredictable and skier visits stagnate, resorts are continuing to invest capital in their summer operations. Bike parks are booming, and adventure parks dominate the summer development field. More diversified summer operations are also popping up thanks to some exciting new partnerships. Acr...
SAM Magazine—Broomfield, Colo., June 7, 2018—Vail Resorts reported earnings and pass sales increases in its all-important February-April third quarter. Net income grew 41 percent in the quarter, to $256.3 million, boosted by a reduction in income taxes as a result of U.S. tax reform and by the addition of Stowe to the VR portfolio for the 2017-...
SAM Magazine—Denver, June 7, 2018—Colorado Ski Country USA (CSCUSA) announced today at its 55th Annual Meeting in downtown Denver skier visits at its now 24-member ski resorts tallied 7.1 million during the 2017-18 winter season. This year’s total is just slightly ahead of the five-year average, and only 2 percent lower than in 2016-17. “T...
SAM Magazine—Montpelier, Vt., June 18, 2018—The Vermont Ski Areas Association (VSAA) reported 3.97 million skier visits at its member resorts during the 2017-18 season, a year-over-year increase of 1.2 percent, but just below the state’s 10-year average. Those visits helped generate $1.6 billion in economic activity during the winter season i...
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SAM Magazine—Denver, June 20, 2018—It didn’t take long for Alterra Mountain Company to answer Vail Resorts’ recent plans for new acquisitions. Alterra has entered into an agreement to purchase Solitude Mountain Resort in Utah, which would bring the company’s total to 13 destinations throughout North America, including CMH heli-skiing oper...
SAM Magazine—Broomfield, Colo., June 4, 2018—It’s been about 15 months since Vail Resorts added a new ski area to its portfolio, and today the company said it plans to add four more, with the acquisition of Triple Peaks, LLC, which is the parent company of Okemo, Vt., Mount Sunapee Resort, N.H., and Crested Butte, Colo., plus Stevens Pass, Wash., in a separate transaction. All four properties are currently operated under lease agreements with Ski Resort Holdings, LLC, an affiliate of Oz Real Estate.
