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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—Denver, Oct. 20, 2017—Overall occupancy at western mountain destinations for the six summer months, April through October, was boosted by bookings made in September for arrivals in September and October. With the last-minute uptick, as of Sept. 30, aggregated summer occupancy edged up 0.1 percent, while revenues are up a robust 7.2 percent compared to the same time last year. For the month of September alone, occupancy was up 1.4 percent, with a 7.3 percent increase in revenue. Inntopia released the results in its monthly DestiMetrics Market Briefing, which tracks 20 destinations across several states.
SAM Magazine—Flagstaff, Ariz., Oct. 17, 2017—Arizona Snowbowl, part of the Mountain Capital Partners group of resorts, plans to purchase the 37-acre Elk Ridge Ski Area near Williams, Ariz. Pending a special use permit approval by Kaibab National Forest officials, the plan is to open Elk Ridge as soon as possible under the current operating plan. Improvements are being proposed.
SAM Magazine—Mount Snow, Vt., Oct. 11, 2017—With current general manager Kelly Pawlak leaving to assume the role of president and CEO of the National Ski Areas Association, Mount Snow wasted no time naming Erik Barnes as her successor. Barnes has been with the resort for more than three decades, most recently serving as director of resort services. His first day as GM will be Nov. 4.
SAM Magazine—Timberline Lodge, Ore., Oct. 11, 2017—Since September, winter storms have been dropping a fair amount of snow on the high country out West, stoking the excitement of skiers and riders. Adding to the excitement, Timberline Lodge and Ski Area on Mt. Hood, Ore., laid claim to being the first ski area to open when it spun the Palmer Chairlift on Sunday, Oct. 8. Weather permitting, the lift will be open Saturdays and Sundays, 8 a.m. to 3 p.m., for advanced skiers and snowboarders.
SAM Magazine—Lakewood, Colo., Oct. 9, 2017—The board of directors of the National Ski Areas Association (NSAA) has named Kelly Pawlak as NSAA’s new president and CEO. Pawlak, who is vice president and general manager at Mount Snow Resort, Vt., will assume the position Jan. 1, 2018.
SAM Magazine—Wrightwood, Calif., Oct. 6, 2017— Ski Resort Holdings LLC, an affiliate of Oz Real Estate, has sold Mountain High Resort to Mountain High Reunited (MHR), an investment group that includes current president and CEO Karl Kapuscinski, the resort’s senior management team, and MHR Investors. Terms of the sale were not released. The current management team will remain in place and continue to operate the resort.
SAM Magazine—Wildwood, Mo., Oct. 5, 2017—Christopher Bub has transitioned into the role of chief financial officer for Peak Resorts after serving as the company’s vice president and chief accounting officer since 2016. Bub succeeds Stephen Mueller, who is stepping down as CFO, a position he’s held since joining Peak Resorts in 2001.
SAM Magazine—Broomfield, Colo., Oct. 3, 2017—Vail Resorts (VR) reported fiscal 2017 full-year results last week, including EBITDA of $593 million. That represents growth of 31 percent compared to 2016, due in large part to inclusion of results from Whistler Blackcomb and Stowe in 2017.
This October edition of Snow People includes happenings to prominent people in the mountain resort industry since our last edition in early August.
SAM Magazine—Dover, Vt., Sept. 27, 2017—The mercury dropped over the weekend in the western high country, and a handful of resort snowmaking crews took advantage of the cold temps.
SAM Magazine—West Dover, Vt., Sept. 25, 2017—By popular demand, Cutter’s Camp returns to the East with a new “Fall Refresher” format to be held at Mount Snow in southern Vermont, Nov. 6-8. With winter starting for many resorts right after Camp concludes, terrain park professionals will be able to immediately apply the lessons and best practices they learn to their park operation.
SAM Magazine—Woodbury, Conn., Sept. 20, 2015—There are only 10 days left to enter SAM’s 13th Annual Terrain Park Contest, sponsored by Burton Snowboards. The November issue will showcase the most unique terrain park features, as well as the most innovative park events, from the 2016-17 season, but only if you enter. So start sorting through your creations, and submit your entries for the feature and/or events categories.
Beaver Creek, Colorado. Photo credit: Jack Affleck, Vail Resorts.SAM Magazine—Denver, Sept. 20, 2017—The trend of slipping occupancy and rising revenues that began last winter in Western destinations has continued through most of the summer, according to the monthly DestiMetrics Market Briefing released by Inntopia. And the trend may get worse before it gets better.
U.S. Ski and Snowboard Hall of Fame and MuseumSAM Magazine—Ishpeming, Mich., Sept. 20, 2017—Eight noted ski and snowboard athletes and sport builders form the U.S. Ski and Snowboard Hall of Fame’s Class of 2017. They are freestyle icon “Airborne” Eddie Ferguson, freestyle’s somersault king Hermann Gollner and legendary cross-country coach Marty Hall; the late, Steve McKinney, world record holder in alpine speed skiing; snowboard pioneer Shaun Palmer; ski mountaineers and twin brothers Mike and Steve Marolt; and Thom Weisel, a passionate fund raiser for the U.S. Ski Team.
SAM Magazine—Carrabassett Valley, Maine, Sept. 15, 2017—Sugarloaf Mountain in Maine will offer cat skiing this winter on its Burnt Mountain terrain, which until this season was only accessible for those willing to hike or skin. The resort will be one of only a small handful of U.S. ski areas east of the Rockies to offer cat skiing, with Subarbush, Vt., and Mount Bohemia, Mich., a couple of the others.
