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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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 HEADLINE NEWS - Ski Area Management

Kicking Horse Gets Master Plan Approval

SAM Magazine--Golden, B.C., January 26, 2010--Canadian Premier Gordon Campbell announced the approval of Kicking Horse Mountain Resort's New Master Plan. The 40-year plan includes 20,000 bed units, an 18-hole golf course, a multi-use trail system with 11 proposed lifts and 4,188 acres of skiable terrain. "At the Provincial level we have now appr...

 HEADLINE NEWS - Ski Area Management

Vonn, Lodwick, Victor Honored by USOC

SAM Magazine-Colorado Springs, Colo., Jan. 22, 2010-The U.S. Olympic Committee has bestowed its highest honors on three U.S. Ski Team athletes on the eve of the 2010 Olympic and Paralympic Winter Games. Alpine skier Lindsey Vonn was named 2009 USOC SportsWoman of the Year, Nordic combined skier Todd Lodwick was honored as SportsMan of the Year, an...

 HEADLINE NEWS - Ski Area Management

Prinoth to Open Midwest Regional Distribution Center

SAM Magazine-Granby, Québec, Jan. 22, 2010-Prinoth is taking over direct distribution of its Alpine products in the Midwest, assuming responsibility that was previously handled by Track Inc. Prinoth will open its own facilities to manage Midwest sales, service and parts distribution for all Alpine groomers, and incorporate this new site into its...

 HEADLINE NEWS - Ski Area Management

Winter Resorts Join Haiti Relief Effort

SAM Magazine-Boyne Falls, Mich., Jan. 22, 2010-After the devastating earthquake in Haiti last week, winter resorts joined the worldwide response by staging a variety of charitable fundraising events over the Martin Luther King Holiday weekend. More than 15 resorts across North America set up donation funds to help aid the people of Haiti. Boyne ...

 HEADLINE NEWS - Ski Area Management

Intrawest Refutes Foreclosure Rumors

SAM Magazine-Steamboat Springs, Colo., Jan. 20, 2010-In a statement released this afternoon, Intrawest disputed published reports about an impending foreclosure action and asserted that it remains in control of all its resorts. "There have been inaccurate and misleading media reports surrounding Intrawest today," the statement says. "Fortress In...

 HEADLINE NEWS - Ski Area Management

Canadian Ski Council Announces Policy on Helmets

SAM Magazine--January 13, 2010--The Canadian Ski Council (CSC) released its policy on helmet usage at Canadian ski areas. It reads: "The Canadian Ski Council recommends wearing helmets for skiing and riding. Skiers and snowboarders are encouraged to educate themselves on the benefits and limitations of helmet usage. The primary safety consideration...

 HEADLINE NEWS - Ski Area Management

Judge Allows Quick Sale of Ski Market

SAM Magazine--January 13, 2010--After filing for bankruptcy protection, the East Coast retail chain, Ski Market, was granted permission by the bankruptcy court to find a buyer by February 12. According to published reports, the future buyer would get Ski Market free and clear of its current debts. Ski Market owes more than $4 million to its loca...

 HEADLINE NEWS - Ski Area Management

Vail Resorts Visits, Revenues Dip Slightly Vs. 2009

SAM Magazine-Broomfield, Colo., Jan. 8, 2010-Vail Resorts, Inc. (VR) has seen a slight decrease in business levels from a year ago, according to data released by the company today. Lift ticket revenue through Jan. 6, including an allocated portion of season pass revenue, was down approximately 0.4 percent compared to last year's comparable perio...

 HEADLINE NEWS - Ski Area Management

Stowe Sold to Chartis

SAM Magazine--Stowe, Vt., January 8, 2010--On December 31, 2009, Chartis acquired Stowe Mountain Resort from the beleaguered AIG. Chartis was formed in the summer of 2009 as a separate subsidiary of AIG that took over AIG's property-casualty and general insurance business. For its part, AIG is spinning off many of its programs following the $182 bi...

 HEADLINE NEWS - Ski Area Management

NPR Airs Story on False Snow Reporting

SAM Magazine--January 5, 2010--On Monday, January 4, 2010, NPR's "All Things Considered" aired a piece on a report that found that ski resorts exaggerate snow reports, especially on the weekends. Two researchers from Dartmouth College, Eric Zitzewitz and Jon Zinman, studied industry snow reports from 2004 to 2008 and found that resorts report 23 p...

 HEADLINE NEWS - Ski Area Management

Credit Suisse Sued for $24 Billion Over Resort Loans

SAM Magazine-Bozeman, Mont., Jan. 4, 2010-Property owners at four Western resort developments, including the Yellowstone Club and Tamarack Resort, have sued Credit Suisse Group AG for $24 billion in losses and damages, claiming the banking giant attempted to defraud investors through its lending practices. The suit also names realtor Cushman & Wake...

 HEADLINE NEWS - Ski Area Management

Learn a Snow Sport Month Is Off and Running

SAM Magazine-LASSM kicked off today with Glen Plake appearing in a segment on The Today Show (see it at www.msnbc.msn.com/id/21134540/vp/34687728#34687728). The four-minute-plus segment shows cohost Hoda Kotb getting a lesson from Plake, along with some pre-tween kids. It also shows a stunt double sliding a rail and catching serious air. All in all...

 HEADLINE NEWS - Ski Area Management

Vonn Named Female Athlete of the Decade

SAM Magazine--January 4, 2010--Two-time World Champion Lindsey Vonn was named Female Athlete of the Decade by NBC's Universal Sports. Vonn joins Jamaican sprinter Usain Bolt who was chosen best male athlete of the decade. "It's incredible to think about where I was as a person and an athlete in 2000 and then compare that to where I am now, says...

 HEADLINE NEWS - Ski Area Management

Ski Market Files for Bankruptcy

SAM Magazine--Boston, Mass., January 4, 2010--On December 29, 2009, wintersports retailer Ski Market filed for Chapter 11 bankruptcy protection. According to the Boston Globe, Ski Market employs 170 full- and part-time employees in seven retail stores in New England. From April 1, 2008 to March 31, 2009, the retailer reported $22.5 million in gr...

 HEADLINE NEWS - Ski Area Management

Winter Olympics Not Affected by Intrawest Debt Talks

SAM Magazine-Vancouver, B.C., Dec. 29, 2009-Intrawest's current debt negotiations will not have any impact on the upcoming Winter Olympic Games, an Intrawest spokesman emphasized to SAM today. "Our venues are finished, preparations are nearly complete and we look forward to welcoming the world to Vancouver," added Dave Cobb, deputy chief executive ...