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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—Aspen, Colo., July 19, 2017—Aspen Skiing Company’s chief operating officer, David Perry, left the company Monday to become a full-time consultant in launching the as-yet-unnamed SkiCo/KSL Capital Partners joint venture, which recently got the green light from regulators to move forward with its acquisitions of Intrawest and Mammoth Resorts.
SAM Magazine—North Vancouver, B.C., July 19, 2017—Grouse Mountain in North Vancouver has been acquired by GM Resorts, a company that was just incorporated in March by CM Asset Management Co. Ltd. (CM Canada). The rumored $200 million price tag was not confirmed in a news release announcing the deal. See SAM’s earlier report about the sale HERE.
SAM Magazine—Orlando, Fla., July 19, 2017—Accesso Technology Group plans to acquire The Experience Engine (TE2) in a deal valued at around $80 million, which is the largest acquisition in the company’s history. Both technology companies currently serve leisure, attraction, and hospitality operations around the world, including ski resorts, theme parks, hotels, quick service food, and healthcare, among others.
SAM Magazine—Claysburg, Pa., July 18, 2017—Sustainable Hospitality and Development, a limited partnership formed by a group of six investors from Pittsburgh, has purchased Blue Knob All Seasons Resort in Pennsylvania. The group acquired the resort from Richard Gauthier, 79, whose family purchased Blue Knob in 1983. The sale is not expected to disrupt operations.
SAM Magazine—North Vancouver, B.C., July 17, 2017—After its owners put it on the market last year, Grouse Mountain near Vancouver appears to have found a buyer. Citing sources familiar with the transaction, The Globe and Mail reported last week that the China Minsheng Investment Group, which is connected to the Chinese central government, is buying the resort for $200 million. The transaction is expected to close in the coming days.
SAM Magazine—Wrightwood, Calif., July 11, 2017—The Powder Alliance reciprocal pass program has added La Parva, Chile, and Bogus Basin, Idaho, to its list of participating resorts for the 2017-18 winter, bringing the total to 16 resorts in four countries. Anytime season passholders at any of the participating resorts get three free days at the other 15.
Robert Ward Parker, a 10th Mountain Division veteran who became a major figure in the post-World War II ski industry, died June 29 in Grand Junction, Colo., at the age of 94.
SAM Magazine—Denver, July 10, 2017—Denver will host the winter and summer Outdoor Retailer trade shows for the next five years, industry and elected officials said last week. Starting in January 2018, show organizer Emerald Expositions will host three shows in Denver each year—the OR Summer Market, plus the combined Winter Market + Snow Show in January, and a new apparel-oriented OR Winter Market in November.
SAM Magazine—Biwabik, Minn., July 10, 2017—Giants Ridge in northern Minnesota has hired industry veteran Fred Seymour as its new general manager. Seymour’s prior experience includes time as senior manager of alpine services for Hyland Hills Ski Area in the Three Rivers Park District in Bloomington, Minn., as well as general manager and consultant for four Denver-based properties. Most recently, Seymour was general manager at Hidden Valley Ski Area in Missouri.
Welcome to the July edition of Snow People, where we highlight happenings to prominent ski industry and supplier personnel.
SAM Magazine—Concord, N.H., June 29, 2017—Legendary ski racer and ski industry pioneer Tom Corcoran died at his home in South Carolina on Tuesday. He was 85.
SAM Magazine—Broomfield, Colo., June 28, 2017—Vail Resorts (VR) has appointed Mike Goar, current vice president and chief operating officer of Keystone Resort, Colo., to be Heavenly Mountain Resort chief operating officer, with additional oversight of the company’s Kirkwood Mountain and Northstar California resorts. He will assume his new responsibilities later this summer.
SAM Magazine—Lakewood, Colo., June 28, 2017—After being without an executive director for several months following the departure of John McMahon, the National Ski Patrol has hired Meegan Moszynski to lead the organization. She will begin her new role July 17.
SAM Magazine—Portland, Maine, June 28, 2017—At a press conference today in Portland, another new suitor for Maine’s shuttered Saddleback Mountain Resort came forward and announced its intention to purchase the ski area from the Berry family. The Australian-based Majella Group has signed an asset purchase agreement to acquire Saddleback, including the resort, base lodge, ski lifts, and surrounding property, totaling 6,337 acres. The deal is expected to close later this summer. Saddleback hasn’t operated since the 2014-15 season.
SAM Magazine—Burlington, Vt., June 27, 2017—With an eye on expanding the 4FRNT brand while keeping the company privately owned, ski innovator and 2002 SAMMY Award winner Jason Levinthal will acquire the assets of ski designer and manufacturer 4FRNT Skis Inc., based in Salt Lake City. The transaction is expected to close in early July.
