Stenger Group Buys Jay Peak - Ski Area Management

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01 July 2008

Push to The Latest: No

SAM Magazine-Jay, Vt., July 1, 2008-After nearly 25 years of leading Jay Peak as president and CEO, Bill Stenger, along with a group of private investors, has purchased Jay Peak from Mont Saint Sauver International (MSSI). Stenger has been working on the sale and transition since last fall. MSSI owns and operates several Canadian-based resorts and had owned Jay since 1978.

"The sale of Jay Peak is a very positive transition-not only from the perspective of our employees and guests, but from that of the entire community of Jay Peak stakeholders. Our entire ownership and management team is very excited to move Jay Peak forward toward a higher level of service and quality," said Stenger. Initial plans call for new lifts, improved snowmaking and more than $100 million in base-area capital investment over the next several years.

Along with Stenger, long-time Jay Peak homeowner Ariel Quiros has been a key figure in the new ownership group. "Mr. Quiros has been a Jay Peak vacationer for more than 25 years and a homeowner for nearly a dozen; he is keenly aware of not only our upside but, more importantly, what makes Jay Peak unique and special to so many guests," Stenger said.

The short- and medium-term future will include several major capital improvements designed to expand the off-mountain experience-a new 57-suite slopeside hotel with new guest amenities, restaurants and skier services is already underway, with completion set for late 2009. At the same time, new lifts, improved snowmaking and the potential for trail reconfiguration will augment the on-mountain experience.

"We're excited about the development of improved on-mountain services and the addition of elements that will truly round out our four-season appeal," Stenger said. But, he added, "Our skiers and riders come here for the snow, our unique vibe and, of course, the mountain; those variables will be improving in step with everything else we do." \