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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—North Conway, N.H., June 15, 2017—During the 2016-17 winter season, Ski NH’s 34 member areas reached 2,357,609 visits for alpine and Nordic skiing, snowboarding, and tubing; an increase of 33 percent over the prior year. Ski NH presented the visit totals at its annual conference at the Red Jacket Mountain View Resort here on Monday.
SAM Magazine—Killington, Vt., June 15, 2017—After a challenging 2015-16 season, Vermont’s alpine and Nordic ski areas came back to tally 3,922,970 visits, the Vermont Ski Areas Association said at its 48th Annual Meeting here.
SAM Magazine—Salt Lake City, June 14, 2017—This past Sunday, June 11, Snowbird resort finally stopped spinning the lifts for the year – ending an eight-month 2016-17 season in which Utah areas totaled, 4,584,658 million skier days, up 2.85 percent from the previous record of 4,457,575 during the 2015-16 season. This year’s number represents an 8.35 percent increase vs. Utah’s five-year average of 4,231,276.
SAM Magazine—Boyne Falls, Mich., June 14, 2017—Boyne Resorts is partnering with Inntopia to enable the multi-resort group to offer its many lodging and activity options in a single, easy-to-use interface on the resorts’ websites.
SAM Magazine—Broomfield, Colo., June 9, 2017—Vail Resorts closed on its acquisition of Stowe Mountain Resort in Vermont on Wednesday. Stowe, VR’s first East Coast property, is also now included on the company’s $859 Epic Pass for the 2017-18 winter season.
SAM Magazine—Lakeside, Mont., June 9, 2017—After 19 years in operation, Blacktail Mountain Ski Area in northwestern Montana is up for sale, at an asking price of $3.5 million. The four partners who own it are looking for new owners who will be able to realize the mountain’s potential.
Welcome to the June edition of Snow People, where we highlight happenings to prominent people in the mountain resort industry.
SAM Magazine—Price Township, Pa., May 31, 2017—Alpine Mountain in Pennsylvania has new owners for the fourth time in the last 10 years after Jim and Linda Schlier closed on the property last week for the price of $412,500. The Schliers, though, don’t plan to operate the mountain as a ski area.
SAM Magazine—Hoboken, N.J., May 26, 2017—Kohlberg & Company has purchased K2, Marker, Dalbello, and the rest of the winter sports businesses formerly owned by Newell Brands Inc. Gross proceeds to Newell from the divestiture are expected to be $240 million, subject to customary working capital and transaction adjustments.
SAM Magazine—Whistler, B.C., May 24, 2017— Whistler Blackcomb Resort chief operating officer Dave Brownlie has decided to step down from his role and pursue other endeavors following a career at the resort that spans nearly three decades.
SAM Magazine—San Juan Capistrano, Calif., May 24, 2017—Emerald Expositions, LLC, a wholly owned subsidiary of Emerald Expositions Events, Inc., producer of business-to-business trade shows and conferences, including Outdoor Retailer, has acquired the SIA Snow Show from SnowSports Industries America (SIA).
SAM Magazine—Mullan, Idaho, May 24, 2017—Phase I of Lookout Pass’ master development plan has been approved by U.S. Forest Service officials, and work can begin as early as this summer on projects that will total about $10 million over the next few years, including terrain expansion, new chairlifts, an addition to the base lodge, and more parking.
SAM Magazine—Denver, May 18, 2017—Overall aggregated occupancy during the 2016-17 winter season—November through April—declined 0.2 percent, marking the first seasonal dip in winter occupancy since the 2011-12 ski season. In contrast, aggregated revenues were up a strong 7.2 percent, with double-digit growth recorded during the month of December. The data was released yesterday by Denver-based DestiMetric’s as part of its monthly Market Briefing.
SAM Magazine—Denver, May 18, 2017—The board of directors of Snowsports Industries America (SIA) have unanimously approved the sale of the SIA Snow Show to Emerald Expositions, which runs the Outdoor Retailer (OR) Winter and Summer Markets, for $16.67 million. The sale must still be approved by SIA’s 100 or so premium members, who have until May 24 to vote on the proposal.
SAM Magazine—Vernon, N.J., May 17, 2017—The owner of Mountain Creek, Mountain Creek Management LLC, is seeking Chapter 11 protection. The company hopes to restructure its debt while maintaining daily operations, including opening the Mountain Creek Waterpark next month.
