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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

Snowmass Wind Tower Starts To Gather Data

SAM Magazine-Snowmass, Colo., Oct. 2, 2008-The Aspen Skiing Company (Skico) has successfully installed a 164-foot-tall wind tower at the top of the Snowmass Ski Area to determine if wind turbines are feasible there. The initial installation of the tower was delayed last month when a winch failed, resulting in damage to the original tower and a slow...

 HEADLINE NEWS - Ski Area Management

Big Sky Wildfire Contained

SAM Magazine - Big Sky, Mt., October 1, 2008 - A potentially dangerous situation was avoided when aggressive action by wildfire crews contained a fire at Big Sky ski resort. The Spanish Peaks Fire, located in the Spanish Peaks Subdivision near Big Sky, was contained Monday night at approximately 10:00 p.m. The fire burned near the base of the Sout...

 HEADLINE NEWS - Ski Area Management

Coronet Peak Reopens

SAM Magazine - Queenstown, New Zealand, October 1, 2008 - New Zealand's Coronet Peak has announced that the ski area will reopen this week. The resort had shuttered operations for the season last Saturday, but with additional storms pounding the area, management decided to extend the winter. "We've had a big dump of snow and there's more in the ...

 HEADLINE NEWS - Ski Area Management

Vail Resorts Income Sets Record, CEO Warns Of Slowdown

SAM Magazine-Broomfield, Colo., Sept. 26, 2008-Vail Resorts, Inc. (VR) on Thursday reported record fiscal 2008 net income of $102.9 million, a 67.6 percent increase over the prior fiscal year, as well as record fiscal 2008 resort revenue of $855.6 million and record total revenue of $1.15 billion, increases of 3.4 percent and 22.5 percent respectiv...

 HEADLINE NEWS - Ski Area Management

Loveland Starts Snowmaking

SAM Magazine - Georgetown, Colo., September 25, 2008 - Colorado ski resort Loveland has commenced snowmaking operations. The resort fired up the guns last night, making the ski area the first in North America to start snowmaking operations for the 2008-2009 ski season. A key ingredient in the mountain's ability to be the first to start snowmaking o...

 HEADLINE NEWS - Ski Area Management

AIG to Remain an Insurance Giant, But Owner of Stowe, Too?

SAM Magazine-New York, Sept. 23, 2008-Appearing on the CNBC business news channel on Monday, AIG chairman and CEO Edward Liddy declared his intention to focus the company on its core insurance business and to have an asset list of for-sale items within seven to 10 days-and perhaps to begin divesting itself of these items in that time frame as well....

 HEADLINE NEWS - Ski Area Management

Sugarloaf Upgrades Snowmaking, Parks

SAM Magazine-Carrabassett Valley, Me., Sept. 23, 2008-Maine resort Sugarloaf has invested more than $5 million to enhance its snowmaking capacity, redesign terrain parks, and upgrade on-mountain facilities. The investment brings the area's total capital investment to $9 million since Sugarloaf joined the Boyne Resorts family in 2007. In snowmaki...

 HEADLINE NEWS - Ski Area Management

Whitefish To Create Ski Academy

SAM Magazine-Whitefish, Mont., Sept. 23, 2008-Whitefish Mountain Resort, in conjunction with Whitefish School District 55 and the Flathead Valley Ski Education Foundation (FVSEF), is creating the Whitefish Alpine and Freestyle Ski Academy for middle and high school student athletes for the 2008-2009 school year and ski season. The academy will offe...

 HEADLINE NEWS - Ski Area Management

Stoneham Builds Permanent Halfpipe

SAM Magazine-Stoneham, Que., Sept. 23, 2008-Canada's Stoneham Mountain Resort is constructing a permanent halfpipe to cut snowmaking costs and facilitate an earlier opening date. The area is resculpting the halfpipe terrain to create an eight foot-deep tank and establish a slope of 18.5 degrees. The resort expects the C$700,000 project, which incl...

 HEADLINE NEWS - Ski Area Management

Sunlight Development Proposal Faces Opposition

SAM Magazine - Glenwood Springs, Colo., September 22, 2008 - Garfield County officials will review a proposal to redevelop the base area of Sunlight Ski Area on Wednesday evening. The proposal, which includes updating the on-mountain facilities and construction of more than 800 residential units, has met opposition from nearby residents, who cited ...

 HEADLINE NEWS - Ski Area Management

Snowmass Turbine Project Hits Snag

SAM Magazine - Snowmass, Colo., September 18, 2008 - A turbine tower that was part of an experimental effort to test the viability of wind power on Snowmass ski area was irreparably damaged during installation last Thursday. The tower was damaged when the winch used for installation failed. A new tower is expected to be installed in the same area w...

 HEADLINE NEWS - Ski Area Management

Coronet Peak Notches Record Season

SAM Magazine - Queenstown, New Zealand, September 18, 2008- New Zealand's Coronet Peak ski area is set to close on Sunday after a record season. According to the resort, the positive results on the year are due to improvements in both the base facilities as well as snowmaking. "It's been a huge journey through a major redevelopment program to get t...

 HEADLINE NEWS - Ski Area Management

Burton and Volvo Ink European Deal

SAM Magazine - Burlington, Vt., September 17, 2008 - Burton Snowboards and Volvo Cars have announced a three-year partnership that expands their relationship in the United States to Europe. The new partnership focuses on Burton's European snowboard events, including the Burton European Open Snowboarding Championships, the Burton AM Tour and the Bur...

 HEADLINE NEWS - Ski Area Management

CMH To Offer Gay Ski Week

SAM Magazine - Banff, AB., September 17, 2008 - Aspen and Telluride have already cashed in on this niche market, now CMH is poised to do the same. The venerable Canadian heli operation has said that the company will offer its first ever Gay Ski Week in April of 2009. The event is scheduled to run from From April 11 to 18 at CMH's, Gothics Lodge ...

 HEADLINE NEWS - Ski Area Management

NZ Areas Extend Season

SAM Magazine - Mt. Ruapehu, New Zealand - The New Zealand ski resorts of Turoa and Whakapapa have announced that they will extend their seasons due to exceptional conditions. The closing date for Turoa has now been set for November 16, with Whakapapa expected to close as scheduled on October 27, but is expected to reopen for Christmas skiing from B...