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...
SAM Magazine-Squaw Valley, Calif., Aug. 21, 2006-Alexander C. Cushing, who founded Squaw Valley and brought the 1960 Winter Olympics to the resort, died from pneumonia Aug. 20 at his summer home in Newport, Rhode Island. He was 92. Cushing grew up in the East, where he attended Groton School, Harvard University, 1936 and Harvard Law School, 1939...
SAM Magazine-Thompsonville, Mich., Aug. 21, 2006-Crystal Mountain became the first Michigan ski area to commit to renewable wind energy today. The resort will purchase enough renewable energy certificates from Boulder, Colo.-based Renewable Choice Energy to power its Crystal Clipper high-speed quad entirely with wind power this season. Crystal owne...
SAM Magazine-Snowmass Village, Colo., Aug. 17, 2006-The Snowmass base village partnership (Intrawest Corporation and Aspen Skiing Company) has signed a letter of intent with WestPac Investments for the purchase and development of both residential and commercial components of the $400 million Snowmass Base Village. The LOI could evolve into a bindin...
SAM Magazine-Keystone, Colo., Aug. 17, 2006-White River National Forest Supervisor Maribeth Gustafson has signed a Decision Notice approving the Upper Independence Cat Skiing proposal at Keystone Resort. Gustafson stated in the Decision Notice, "I believe that the EA has adequately and clearly addressed the issues relevant to the proposal and do...
SAM Magazine-Ludlow, Vt., Aug. 17, 2006-Tim and Diane Mueller, owners of Okemo Mountain Resort in Vermont, Crested Butte Mountain Resort in Colorado, and Mount Sunapee Resort, in New Hampshire, have entered into an agreement with Gunnison County Electric Association to purchase 27 million kilowatt hours of Renewable Energy Certificates from Sterlin...
SAM Magazine-Vancouver, B.C., Aug. 11, 2006-Fortress Investment Group is buying 100 percent of Intrawest Corporation for $35 a share. The total value of the transaction, including the existing debt of Intrawest, is approximately $2.8 billion. Fortress is a global investment and asset management firm with approximately $23 billion in equity capit...
SAM Magazine-Teton Village, Wyo., Aug. 10 2006-Jackson Hole Mountain Resort (JHMR) will replace its original 60-passenger tram with a new 100 passenger state of the art Doppelmayr/CTEC aerial tramway. Like its predecessor, the new tram will be a gig back reversible and rise 4,139 vertical feet from the base in Teton Village to the summit of Rendezv...
SAM Magazine--Sandpoint, ID, August 2, 2006--Schweitzer Mountain Resort has announced that Tom Chasse, president and managing director of Attitash, N.H., has accepted the position of president and CEO of Schweitzer effective August 14, 2006. Chasse has been with Attitash for 14 years, eight of them as managing director. In all, he has worked in ...
SAM Magazine--August 1, 2006, Middlefield, CT--Powder Ridge Ski Area in Connecticut may have a new lease on life after the town of Middlefield's board of selectmen reached an agreement to purchase 300 acres of land the area sits on for $3.6 million. Powder Ridge owner Ken Leavitt had approached the town several times about buying the land and l...
SAM Magazine-Boulder, Colo., Aug. 1, 2006-Storm Mountain Publishing Company (SMP), parent of Freeskier magazine, has crafted a long-term partnership agreement with Global United Publishing (GUP) to publish Snowboard magazine. GUP had said earlier that it would not publish its September issue due to financial constraints. The parties expect to final...
SAM Magazine--August 1, 2006, Killington, VT--Killington's long-awaited ski village suffered a setback when its developer pulled out of the project. According to the Rutland Herald, Centex Destination Properties, who signed on a year ago to build out a village at the base of Killington that would have included 1,400 vacation homes and condominiums,...
SAM Magazine--Vail, CO, August 1, 2006--Vail Resorts Inc. announced that the company will offset 100 percent of its energy use by purchasing nearly 152,000 megawatt-hours of wind energy for its five mountain resorts, its lodging properties, all of its 125 retail locations and its new corporate headquarters in Broomfield, CO. By purchasing renewable...
SAM Magazine-Park City, Utah, July 14, 2006-The board of directors of American Skiing Company (ASC) has retained investment advisors to initiate a strategic review of business options for the Steamboat Ski and Resort Corporation, including the potential sale of the resort. "Steamboat's status as a world-renowned destination resort, combined with...
SAM Magazine--Wolf Creek, Colo., July 14, 2006--The Regional Office of the Forest Service upheld the Rio Grande National Forests' April 3rd decision to allow two access roads across Forest Service land that will access developer Red McCombs' proposed village site at Wolf Creek Mountain. Administrative appeals had been brought by Colorado Wild, t...
July 12, Great Britain (Snow Hunter)--The UK's annual Ski Industry Report has been published by leading tour operator Crystal. The Report notes that the British ski market recorded one of its strongest periods of growth last winter, with seven per cent more UK skiers taking a ski holiday abroad than the previous winter. More than 1.15m ski holi...
