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...
SAM Magazine-Broomfield, Colo., Mar. 6, 2012-Vail Resorts (VR) saw its fiscal second-quarter net income drop 15 percent as the mild, low-snow winter kept customers away, especially at its Tahoe resorts. Increased ticket prices and room rates mitigated the drop in visits, or the decline would have been greater. This winter's weather has been espe...
SAM Magazine-Middlefield, Conn., Feb. 24, 2012-The town of Middlefield's Board of Selectmen last week approved a $1 million bid to purchase and reopen Powder Ridge ski area in the latest attempt to revive a hill that has been closed since 2007. The bid was made by the owners of nearby Brownstone Exploration & Discovery Park. Brownstone's managin...
SAM Magazine-Wildwood, Mo., Feb. 24, 2012-Peak Resorts plans to spend $2 million on a variety of improvements at Hidden Valley ski area for the 2012-13 season. Hidden Valley plans to expand skiable terrain by 30 percent, including a new 2,000 foot-long run that will be the resort's longest; blanket the new terrain with snowmaking; and add a quad ch...
SAM Magazine-Big Sky, Mont., Feb. 24, 2012-For the first time, Big Sky will run the Lone Peak Tram to give guests access to the 11,166-foot peak and its 360-degree views, and offer guided Lone Peak Expeditions, starting in July 2012. The outings will involve riding a chairlift, the tram, and safari vehicle. The Tram has operated winters only since ...
SAM Magazine-Broomfield, Colo., Feb. 22, 2012-Vail Resorts will acquire Kirkwood Mountain Resort in a deal expected to close within the next month, making Kirkwood VR's third property in the Tahoe area and seventh overall. Purchase price is approximately $18 million. Vail Resorts is purchasing the ski resort as well as the undeveloped sites at t...
SAM Magazine-Stevens Pass, Wash., Feb. 20, 2012- Three skiers died in an out-of-bounds avalanche on the back side of Stevens Pass Sunday, including Stevens marketing director Chris Rudolph. The others were professional freestyle skiing judge Jim Jack and local John Brenan. A fourth person caught in the slide, pro skier Elyse Saugstad, deployed an a...
SAM Magazine-Denver, Feb. 17, 2012-Recent shifts in storm systems that brought much-needed snow to many western resorts came too late to boost early season destination travel, with hotel occupancy declining 3.7 percent during the month of January, according to the most recent data from the Mountain Travel Research Program (MTRiP). The booking pace ...
SAM Magazine--February 16, 2012--Peak Resorts has announced its plan to build a new 48,000-square-foot main base lodge at Brandywine Ski Resort, Ohio. The new lodge is estimated to be a capital investment of upwards of $5 million that will replace three existing buildings resulting in all skier services being combined in one location. The lodg...
SAM Magazine--February 13, 2012--Two unfortunate incidents took place this past weekend in the ski industry. First, on February 11, three people were injured at Coffee Mill Ski and Snowboard Resort, Minn., when a chair fell from the rope thirty feet to the ground. The ski area was hosting a racing tournament when the accident happened around 1 p.m....
SAM Magazine-San Francisco, Calif., Feb. 9, 2012-Arizona Snowbowl and the U.S. Forest Service gained another court victory today as the U.S. Court of Appeals for the Ninth District affirmed a district court decision upholding the Forest Service's 2005 Record of Decision regarding snowmaking at the Snowbowl, rejecting a suit brought by the Save the ...
SAM Magazine-Amherst, Va., Feb. 8, 2012-Wintergreen Resort is cutting expenses, collecting 2013 membership dues early, and asking its 1,800 members for a $6 million cash infusion to help the resort meet financial challenges stemming from this winter's warm weather and below-average snow, according to several news sources. Wintergreen Partners In...
SAM Magazine--February 3, 2012--Peak Resorts, the parent company of Crotched Mountain, N.H., announced the acquisition of the high speed detachable quad at Ascutney Mountain, which has closed its doors. Crotched will install the 5,000+-foot lift this coming summer. The Garaventa CTEC lift will replace a fixed grip lift and access an additional 2...
SAM Magazine--February 3, 2012--Last night, February 2, the Cache County Planning Commission granted a conditional use permit for the proposed Cherry Creek ski area in northern Utah. The proposal for the new ski area includes 203 acres of terrain, base area and mid-mountain facilities, four lifts, a terrain park, a zipline, three water storage ...
SAM Magazine--January 28, 2012--Yesterday marked the start of the 2011-12 winter season for Utah's newest ski resort Eagle Point. The opening signifies that every Utah ski and snowboard resort is open for the season. A fresh blanket of snow during the past 24 hours added two to eight inches to resort snow totals. This snowfall, in addition to the p...
SAM Magazine--January 25, 2012--After filing for bankruptcy two years ago, the assets of Moonlight Basin, Mont., were sold last week to the estate of Lehman Brothers Holdings Inc. According to the Wall Street Journal, Lehman began lending to Moonlight in 2007 under a $100 million credit agreement between the area and the Lehman Brothers Commercial ...
