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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

Mad River Starts Renovation of Single Chair

SAM Magazine-Fayston, Vt., May 17, 2007-Mad River Glen has started work on the restoration of its iconic single chair, which has provided 59 years of service. The resort, which has raised $1.1 million with its Single Chair Capital Campaign, is on track to have the lift up and running for its scheduled December 15 opening. After considering the radi...

 HEADLINE NEWS - Ski Area Management

Put Your Name on Whistler's Gondola (For a Price)

SAM Magazine-Whistler, May 17, 2007-The ramifications are obvious: the Nestle Chairlift, The Remax Run (with associated million dollar ski-in, ski-out real estate), the Purina Poma. How about the Halliburton Jackson Hole Tram? That's what the future might look like if other resorts follow Whistler's lead and start selling naming rights to their lif...

 HEADLINE NEWS - Ski Area Management

Kiwis Aim at Aussie Market

SAM Magazine-Wellington, New Zealand, May 17, 2007-The New Zealand ski industry is starting to push for a bigger slice of the Aussie pie, targeting Australian skiers with television advertising for the first time. New Zealand already taps into an enthusiastic Aussi market. Last year, more than 101,000 overseas skiers spent an estimated NZ$342 mi...

 HEADLINE NEWS - Ski Area Management

Powder, Snowboarder Mags Get New Owner

SAM Magazine-Bonita Springs, Calif., May 17, 2007-Source Interlink Cos., a magazine, CD and DVD distributor controlled by Los Angeles billionaire Ron Burkle, has agreed to buy the Enthusiast Media division of Primedia, which includes Powder, Snowboarder, Hot Rod, Motor Trend and other special interest publications, for $1.2 billion. Source Inter...

 HEADLINE NEWS - Ski Area Management

Killington Deal Closes, Nyberg Named President

SAM Magazine-Killington, Vt., May 11, 2007-Powdr Corp of Park City, Utah and SP Land Company of Killington have finalized their purchase of Killington and Pico ski areas from American Skiing Company (ASC). SP Land will continue to focus on real estate development, and Powdr will run the mountain resort operations. Final proceeds from the sale were ...

 HEADLINE NEWS - Ski Area Management

Ragged Mountain Sold to Utah Developer

SAM Magazine-Danbury, N.H., May 11, 2007-Ragged Mountain ski resort and its 18-hole golf course are now owned by RMR-Pacific, an affiliate of Utah developer Pacific Group. Sale price was not disclosed, but is believed to be about $10 million. RMR-Pacific bought Ragged from Al and Walter Endriunas, who had been facing foreclosure for months. The two...

 HEADLINE NEWS - Ski Area Management

Jiminy Gets Nod For Turbine

SAM Magazine - Hancock, Ma, May 7, 2007 - Massachusetts resort Jiminy Peak has received final approvals to install a $3.9 million GE wind turbine on the ski mountain and construction is expected to commence this summer. The project should be completed by August. The turbine is slated for the western side of the mountain, 350 feet below the summi...

 HEADLINE NEWS - Ski Area Management

Mammoth Gets a Six-Pack

SAM Magazine - Mammoth Mountain, Ca, May 7, 2007 - One of Mammoth's original chairs is finally getting a makeover. Chair 9, a double installed in 1969, is being replaced by a six pack detachable built by Doppelmayr. The lift has the largest vertical rise of any chair at Mammoth, at 1,700 feet. The new Doppelmayr lift will cost $6.5 million, will...

 HEADLINE NEWS - Ski Area Management

Threats Target Workers At Snowmass Village Construction Site

SAM Magazine, Snowmass, Co., May 7, 2007 - Threats written on the walls of a portable toilet at the construction site of the new Snowmass Village have workers and authorities concerned. The threats, which involved shooting Mexican workers and named a time and date (2:15 p.m., Friday, May 4) resulted in increased police presence through the weekend....

 HEADLINE NEWS - Ski Area Management

Scott Brandi to Head SANY

SAM Magazine-Glens Falls, N.Y., May 4, 2007-Scott Brandi becomes president and executive director of the Ski Areas of New York (SANY) on June 1, replacing Dirk Gouwens, who resigned to join the Lake Placid Visitors' Bureau as vp of marketing and brand development. "In my new position I will be able to apply the skills and industry knowledge gath...

 HEADLINE NEWS - Ski Area Management

Revelstoke Closes on Selkirk Heli Purchase

SAM Magazine-Revelstoke, B.C., May 3, 2007-Revelstoke Mountain Resort has closed on its purchase of Selkirk Tangiers Heli Skiing, which was announced in January. The deal, worth $6 million, gives Revelstoke Mountain Resort access to 500,000 acres of skiable terrain with annual snowfall that regularly exceeds 40 feet. Combined with the recent acquis...

 HEADLINE NEWS - Ski Area Management

Williams and Nedde Acquire Full Interest In Bolton Valley

SAM Magazine-Bolton, Vt., May 3, 2007-Larry Williams and Doug Nedde have acquired Bob Fries' remaining financial interest in Bolton Valley. Williams and Nedde are partners in Redstone, a thriving commercial real estate development firm which purchased the 3,800 acres surrounding the resort in 2004. "In the past couple of years, we've made a lot ...

 HEADLINE NEWS - Ski Area Management

Steamboat To Invest $16 Million In Improvements

SAM Magazine-Steamboat Springs, Colo., May 3, 2007-As part of a massive makeover worth approximately $40 million, Colorado's Steamboat Resort will embark on $16 million worth of projects this summer, a record investment for the resort. Highlighting the investment will be the new Christie Peak Express detachable six-pack chairlift, Headwall slope...

 HEADLINE NEWS - Ski Area Management

Peak Resorts Shuffles Managers in East, Midwest

SAM Magazine-Wilmington, Vt., May 3, 2007-With the recent purchase of Mt. Snow and Attitash, Peak Resorts has reassigned some of its top executives to new positions within the company and promoted other key employees to new positions. Kelly Pawlak, who was the managing director of Mt. Snow, will become general manager there. John Lowell, who was...

 HEADLINE NEWS - Ski Area Management

Retail Report: Apparel Sales Up, Gear Down

SAM Magazine-McLean, Va., May 1, 2007-Sales at specialty ski and snowboard shops were down 1 percent in dollars for the August-February period, from $1.67 billion in 2005-06 to $1.65 billion this past season, according to The SnowSports Industries America (SIA) Retail Audit conducted by Leisure Trends Group. Unit sales declined 0.5 percent, as incr...