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—Ludlow, Vt., Nov. 21, 2019—Temperatures dropped to record lows across the country last week, allowing resorts in many regions to fire up the snow guns ahead of the Thanksgiving holiday. A steady stream of ski areas in the Northeast and Midwest continue to open, often with top to bottom skiing and riding on multiple trails. Converse...
SAM Magazine—Philadelphia, Nov. 21, 2019—Perfect North Slopes has purchased the land and assets of Timberline Four Seasons Resort in a bankruptcy court auction at the Philadelphia offices of Timberline’s attorneys yesterday. The purchase price was $2.2 million. Members of the Perfect North Slopes management team will be forming a new managem...
SAM Magazine—Burlington, Vt., Nov. 21, 2019—Jake Burton Carpenter, the pioneer who popularized snowboarding and helped turn it into a sport, a billion-dollar business and Olympic showpiece, has died at 65. Carpenter died Wednesday night in Burlington, Vt., from complications related to a return of testicular cancer, which was first diagn...
SAM Magazine—Park City, Utah, Nov. 18, 2019—Snowsports Industries America (SIA) has reached an agreement to acquire the Boston Ski and Snowboard Expo and the Colorado Ski and Snowboard Expo from BEWI Productions, Inc., which has produced the shows for more than 40 years. Terms of the deal have not been disclosed. SIA's Nick Sargent with Be...
SAM Magazine—Denver, Nov. 15, 2019—The six-month summer season, from May through October, finished with lackluster lodging results and the softest aggregated summer occupancy figures in a decade in western mountain destinations. A modest gain of 2.8 percent in the average daily rate (ADR) boosted overall summer revenues despite a 1.2 percent dr...
SAM Magazine—Denver, Nov. 13, 2019—Alterra Mountain Company has entered into an agreement to purchase Sugarbush Resort in Vermont, bringing the company’s portfolio up to 15 resorts throughout North America. Summit Ventures NE LLC, owner of the resort since 2001, agreed to sell the majority of its Sugarbush assets to Alterra. Summit Ventures ...
SAM Magazine—Burlington, Vt., Nov. 11, 2019—For many skiers and riders across North America, the long wait is finally over. Dropping temperatures, aggressive snowmaking, and early-season storms have provided the goods, and more ski resorts across the country are opening for business. Colorado led the way, with several resorts opening by Hallow...
SAM Magazine—Rangeley, Maine, Nov. 8, 2019—The owners of Saddleback, Maine’s third-largest ski area, have reached a new agreement to sell the mountain to Boston investment company Arctaris Impact Fund. The sale is expected to close in mid-December. The resort went on the market in 2015, when current owners the Berry family determined t...
SAM Magazine—Natick, Mass., Nov. 7, 2019—Out of the dozens of talented mountain resort industry up-and-comers who were nominated this fall to participate in the third installment of the SAM Summit Series, 10 have been chosen and are already off and running. The 2019-20 mentees hail from resorts of all sizes located all over the country, and rep...
SAM Magazine—Lakewood, Colo., Nov. 7, 2019—The National Ski Areas Association (NSAA) has released its annual Sustainable Slopes report. Nine new resorts joined the NSAA Climate Challenge this past year, raising total participation to 45 resorts. The organization awarded more than $40,000 in grants to support sustainability initiatives. NSAA als...
SAM Magazine—Durango, Colo., Nov. 5, 2019—Mountain Capital Partners (MCP) has entered into an agreement to acquire Brian Head Resort in southern Utah. The resort will remain under the current management and control until the acquisition closes. Brian Head will be the eighth resort in MCP’s portfolio of properties, which includes Nordic...
SAM Magazine—Oct. 30, 2019—October storms have dropped temps and several feet of snow in the Colorado Rockies, allowing resorts across the state to start spinning lifts. In other parts of the country, ski areas are mostly still shut and looking toward November to bring better snowmaking conditions and, hopefully, some of last year’s Snovember...
CRANMORE, N.H.Cranmore Mountain Resort, N.H., announced several staffing updates. In resort operations, Tricia Garcia has been promoted to director of base area operations. She brought on Gregg Ludvigson as the resort’s new mountain bike and ski rental shop manager. Linda Dean, former member services supervisor at the rec...
SAM Magazine—Natick, Mass., Oct. 23, 2019—SAM has launched year three of its successful Summit Series. The season-long program, aimed at developing future leaders in the mountain resort industry, creates a public dialogue between respected industry leaders and up-and-coming resort staffers. These important conversations will be shared in the pa...
SAM Magazine—Denver, Oct. 22, 2019—Strong bookings made during the month of September helped boost the overall outlook for the summer season and upcoming winter months, according to the most recent DestiMetrics Market Briefing. Through Sept. 30, aggregated occupancy for the month of September was up a slight 0.8 percent compared to last Septemb...
