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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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Resorts Report Record Seasons

SAM Magazine--April 28, 2014--Several resorts announced record-breaking seasons today. First up, Stevens Pass, Wash., hosted more than 406,000 visits this winter making 2013/14 its largest season since visits have been electronically tracked. While much of the West Coast saw below average snowfall, Stevens Pass surpassed its 450-inch average with a...

Vail Releases Season Numbers to Date

SAM Magazine--Broomfield, Colo., April 24, 2014--Vail Resorts, Inc. (VR) reported certain season metrics for the comparative periods from the beginning of the season through April 20, 2014 and were adjusted as if Canyons was owned in both periods (but they do not include Afton Alps and Mt. Brighton). In short, visits were up 2.3% and lift revenue w...

Summer Ops Camp Goes to Vail

SAM Magazine—Vail, Colo., April 22, 2014—SAM's fifth annual Summer Ops Camp, a hands-on educational and networking event, will head to Vail, Colo., Sept. 3-5. The Camp gathers resort managers and operators from around North America to explore the exciting opportunities in four-season attractions. In addition to a full schedule of...

New Owners Renovating Alpine Mountain Ski Resort

SAM Magazine—East Stroudsburg, Pa., April 23, 2014—A father and son team, Kevin Fabiano and Kevin Jr., has bought Alpine Mountain Ski Resort and launched a multi-million dollar renovation of the area, estimated to reach $3 million in improvements by December 2014. The Fabianos purchased the area from Appletree Resource Group, which h...

Barber Joins Mount Bohemia as GM

SAM Magazine—Houghton, Mich., April 17, 2014—Vern Barber, manager of Marquette Mountain, Mich., for the past 32 years, is joining Mount Bohemia as general manager. He starts his new job May 5. Mount Bohemia president Lonie Glieberman said that Barber will be charged with managing the resort’s growing lodging facilities and year...

Forest Service Finalizes Summer Recreation Policy

SAM Magazine—Washington, D.C., April 16, 2014—The U.S. Forest Service has finalized policy guidelines that will open opportunities for ski areas to develop and offer a variety of year-round recreation activities on the National Forests. The revised directives stem from the Ski Area Recreational Opportunity Enhancement Act of 2011. &q...

Destination Visits Strong, and Getting Stronger

SAM Magazine—Breckenridge, Colo., April 16, 2014—Occupancy and revenue remained on an upward trend at destination resorts through March, according to Denver-based DestiMetrics. Results varied with the weather for the three major regions covered in the firm’s monthly report. But strong summer reservations across all three regions f...

West Mountain Out of Bankruptcy

SAM Magazine--Queensbury, N.Y., April 3, 2014--April Fool's Day was no joke for West Mountain--the area has exited bankruptcy. According to the Post Star, the final decree was made public this past Tuesday. Apex Capital, which has been operating the area since last summer and who bought the first mortgage on the property in November of last yea...

Four Receive SAMMY Leadership Awards

SAM Magazine—Woodbury, Conn., April 3, 2014—SAM Magazine is proud to announce the 2014 SAMMY Leadership Award winners: Patricia Campbell, Kevin Stickelman, and Laura and Matt O’Brien. The awards, given annually to individuals who will shape the future of the mountain resort industry, are in their 17th year. Patricia C...

CNL Announces Fourth Quarter Results

SAM Magazine--Orlando, Fla., March 31, 2014--CNL Lifestyle Properties, Inc., a real estate investment trust (or REIT), today announced its operating results for the fourth quarter ended Dec. 31, 2013. As of March 14, 2014, CNL owned a portfolio of 145 lifestyle properties, 73 of which are wholly-owned and run by operators under long-term, triple-ne...

Idaho Updates Its Skier Act

SAM Magazine--Boise, Idaho, March 28, 2014--In an effort to reflect the changing landscape of the mountain resort, Idaho is the latest state to update its bill that oversees ski areas. The governor signed Bill 462 on March 26 and the new Bill goes into effect on July 1, 2014. The update expanded the skiing language to include snowboarding and other...

Vail “Willing” to Buy Park City Base Facilities

SAM Magazine—Park City, Utah, Mar. 26, 2014—As the Talisker-Vail-Park City Mountain Resorts’ (PCMR) lease lawsuits head toward two crucial court dates in April, action has been heating up. The latest move: Vail Resorts (VR) has said it is willing to buy PCMR’s base facilities. Vail CEO Rob Katz made this bid in a letter t...

Lodge at Wolf Ridge Destroyed by Fire

SAM Magazine--Mars Hill, N.C., March 26, 2014--A lodge located at the top of Wolf Ridge Ski Resort burned to the ground during the early hours today. Called the Ridge Lodge, it was built to handle overflow from the base area lodge and to accommodate guests staying in the resort's cabins at the summit. The lodge was unoccupied at the time of the...

Intrawest 2nd Quarter Results Hint at Future Growth

SAM Magazine—Denver, Mar. 21, 2014—Intrawest saw increased visits at its resorts in the early season, and that fueled revenue growth for the quarter ended Dec. 31, 2013, Intrawest Resort Holdings reported earlier this week. The report and subsequent call with analysts also indicated that Intrawest sees potential for growth in the future...