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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

Gore Mountain, North Creek Interconnect Approved

SAM Magazine-Ray Brook, NY., Oct. 10, 2008-Plans to link New Yorks's Gore Mountain Ski Center with nearby North Creek Ski Bowl were given the nod by the Adirondack Park Agency Agency at its October meeting today. The Agency confirmed that ski trails proposed for the link comply with State Land Master Plan requirements. The interconnect plan cal...

 HEADLINE NEWS - Ski Area Management

Vail Resorts Stock Price Tumbles

SAM Magazine-Vail, Colo., Oct. 10, 2008-Vail Resorts stock price is tumbling along with the market. The stock lost more than 10 percent of its value on Thursday, dropping $2.90, and closing at $24.07. That came on the heels of a bad Wednesday for the company, when the stock tumbled $2.28. Nearly a month ago, in mid-September, the stock traded as hi...

 HEADLINE NEWS - Ski Area Management

Mountain High Doubles Park Investment

SAM Magazine-Wrightwood, Calif., Oct. 10, 2008-Mountain High has doubled the ski area's investment in its Faultline terrain park offerings for 2009. The investment will result in a wide range of new features including a massive 20' x 20' wallride. In addition, two new park-specific Prinoth grooming machines costing more than $800,000 have been adde...

 HEADLINE NEWS - Ski Area Management

NSAA Outlines Potential Business Impacts of Economy, Snowfall

SAM Magazine-Lakewood, Colo., Oct. 9, 2008-A special NSAA report prepared by RRC Associates concludes that snowfall will be a greater indicator of visits this coming season than the economy. The report is based on an analysis of visits, snowfall, economic conditions, and consumer confidence over the past 30 years. RRC outlines two different scen...

 HEADLINE NEWS - Ski Area Management

New Zealand Resorts Wrap Up Successful Season

SAM Magazine-Lake Wanaka, NZ., Oct. 9, 2008-As North American resorts gear up for winter, the ski and ride season in the Southern Hemisphere is drawing to a close. And it was a good year for the four resorts at Lake Wanaka-Treble Cone, Snow Park NZ, Cardrona Alpine Resort and Snow Farm. All are reporting strong visitor numbers and great snow condit...

 HEADLINE NEWS - Ski Area Management

Lake Louise To Get Four-Year World Cup Commitment

SAM Magazine -Lake Louise, Alberta, Oct. 9, 2008-The International Ski Federation (FIS) World Cup Committee has approved a tentative schedule that includes hosting races at Lake Louise for the next four years. Lake Louise was also the first resort outside of Europe to be named to the prestigious Club 5+, an organization that brings together 13 o...

 HEADLINE NEWS - Ski Area Management

Ski Utah Launches Online Job Board

SAM Magazine-Salt Lake City, Oct. 8, 2008-Ski Utah is launching a new online job board, SkiUtahJobs.com to help the state's ski and snowboard resorts fill jobs this winter. Postings include those for seasonal help to work the lifts, restaurant, hotels, and other facilities as well as year-round employment opportunities. Employers will be able to po...

 HEADLINE NEWS - Ski Area Management

CNL Refinances Boyne Credit Facilities

SAM Magazine-Big Sky, Mont., Oct. 8, 2008-CNL Lifestyle Properties, Inc. is providing capital to Boyne Resorts to, in large part, refinance some credit facilities Boyne had at the corporate level. The agreement includes an option to purchase Big Sky resort within the next two years, where Boyne expects to invest some of its capital. CNL already own...

 HEADLINE NEWS - Ski Area Management

Perisher Blue Reflects on '08, Looks To '09

SAM Magazine (SnowHunter) - October 6 --Perisher Blue in Australia finishes its 2008 winter this weekend. The resort was able to offer excellent riding conditions across its four resort areas for the majority of the southern hemisphere's 2008 season. Despite a slow start for snowfalls, the resort managed to open its first lifts on Saturday, 7 June...

 HEADLINE NEWS - Ski Area Management

Burton Opens Second Stash in Europe

SAM Magazine (SnowHunter) - October 6 --Burton will open the fifth of its natural Stash concept parks this winter, the second in Europe, at Fachauwinkl ski area in Austria's Salzburgland province. The Stash, scheduled to open in January, will be the first run of its kind in Austria, which is also home to Burton's European headquarters. The forst ...

 HEADLINE NEWS - Ski Area Management

Vail Resorts Offers "Baggage Bailout" to Air Travelers

SAM Magazine-Broomfield, Colo., Oct. 6, 2008-To help offset added airline fees, Vail Resorts is offering a "Baggage Bailout" for skiers and snowboarders staying at Vail, Beaver Creek, Breckenridge, Keystone and Heavenly this winter. Guests will receive a $50 credit when they book a stay of least four days and nights by Dec. 1 through Vail Resorts r...

 HEADLINE NEWS - Ski Area Management

Compagnie Des Alpes Issues Statement On Profitability

SAM Magazine (SnowHunter) - October 6 --The world's largest ski resort operating company, Compagnie des Alpes, which manages 17 leading resorts in the Alps, decided it needed to publish a statement underlying its financial stability after Fortis, an international provider of banking and insurance services, published a report on the debt situation o...

 HEADLINE NEWS - Ski Area Management

CNL Names CIO

SAM Magazine--October 2, 2008, Orlando, Fla.--Baxter Underwood was named senior VP and CIO at CNL Properties, Inc. In this role, Underwood will lead the acquisitions team in identifying new business opportunities and increasing the company's $2.3 billion portfolio of assets. Prior to his promotion, Underwood was VP of investments and oversaw the ac...

 HEADLINE NEWS - Ski Area Management

Vail Resorts Promotes Garnsey, Carrig, and Brown

SAM Magazine-Broomfield, Colo., Oct. 2, 2008-Vail Resorts has elevated John Garnsey and Blaise Carrig to co-presidents of the company's Mountain division, while Stan Brown has been promoted to president of the Lodging division, all effective immediately. As co-president, Garnsey remains chief operating officer of Beaver Creek Resort and has dire...

 HEADLINE NEWS - Ski Area Management

Belleayre to Restrict Operations

SAM Magazine-Highmount, N.Y., Oct. 2, 2008-In the wake of budget cuts by New York State agencies, state-operated Belleayre Mountain Ski Center will restrict lift and snowmaking operations for the 2008-09 ski and snowboard season. However, all programming will remain available, including "Kidscamp," racing programs, and new this year, the adaptive s...