WILMOT'S $13 MILLION OVERHAUL... WHISTLER BLACKCOMB RENAISSANCE... KILLINGTON INVESTING IN SUMMER... PEOPLE... AWARDS... OBITUARIES... SUPPLIER NEWS

JAY AND BURKE: GOOD INTENTIONS GONE BAD

When Jay Peak, Vt., owner Bill Stenger championed the EB-5 foreign investor program as a way to develop and create jobs in Vermont’s employment-starved Northeast Kingdom, he was praised as a visionary. His relatively silent partner in this renaissance was Florida businessman Ariel Quiros, who initially reached an agreement with Stenger to purchase Jay Peak in 2006. Then in 2008, purchase it he did—but didn’t use the right account to pay for it.

MT. ROSE FOR SALE

In late January, after 45 years as majority owner, Fritz Buser, 95, put Mt. Rose Ski Tahoe up for sale. Over the last 15 years, Buser oversaw millions of dollars in capital improvements to the resort, including adding the Winters Creek Lodge, installing two high-speed six-passenger lifts, and expanding terrain. Day-to-day operations continue at the 1,200 acre resort. Details on the listing have yet to be released.

SUMMER BUSINESS: A SHARED EXPERIENCE

The Assembly, conceived and run by Denver-based DestiMetrics, has quickly become a staple of the annual mountain tourism seminar cycle. Held Jan. 29 in Denver during the SIA Snow Show, this year’s summer-focused symposium, “Balancing the Peaks and Valleys of Mountain Tourism,” highlighted the community-wide nature of summer visits and the impact of the sharing economy on the traditional lodging business.

PEAK RESORTS ACQUIRES HUNTER MOUNTAIN

On Nov. 30, Peak Resorts entered into an agreement to purchase Hunter Mountain, N.Y., for cash consideration of $35 million plus the assumption of two capital leases estimated at approximately $1.8 million. Hunter generates approximately $27 million (unaudited) in annual revenue. Shortly after the acquisition, Peak added Hunter to its unlimited Nor’easter Pass, which includes all of its Northeast properties. Hunter Gold Pass holders were given the option to upgrade to a Nor’easter for $299. Peak Resorts portfolio now consists of 14 ski areas.

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