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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

Bitterroot Resort Submits New Plan

SAM Magazine-Missoula, Mont., April 25, 2006-Rancher and would-be resort developer Tom Maclay last week resubmitted a special-use permit application for a scaled-down resort on National Forest land adjacent to his 3,000-acre property in the Bitterroot Valley. Maclay seeks to develop 1,780 acres in the Bitterroot National Forest for skiing and ri...

 HEADLINE NEWS - Ski Area Management

Richard Kohnstamm, Father of Timberline Skiing, Dies

SAM Magazine-Government Camp, Ore., April 25, 2006-Richard L. Kohnstamm, who transformed Timberline Lodge into a national skiing institution in the 1950s, died last Friday after becoming ill at his family's cabin on Mount Hood. He was 80 years old. Kohnstamm assumed management of the Depression-era Timberline Lodge in the early '50s, after it h...

 HEADLINE NEWS - Ski Area Management

2006 SAMMY Winners Announced

SAM Magazine--Woodbury, Conn., April 20, 2006--SAM Magazine is pleased to announce this year's SAMMY Future Leadership Awards. First up is Alexa Bernotavicz, mountain operations director at Wildcat Mountain, N.H. Next is Yves Juneau, sales and marketing director of Quebec's Mont-Sainte-Anne and Stoneham resorts. Third is Steve Kruse, director of mo...

 HEADLINE NEWS - Ski Area Management

Warm Weather Trims Retail Sales Gain for 2005-06

SAM Magazine-McLean, Va.. Apr. 19, 2006-Retail winter sports sales remained sluggish in February, but overall sales for specialty and chain stores nonetheless totalled $2.2 billion for the August 2005 through February 2006 period, up 6 percent from $2.1 billion a year earlier, according to the SIA Retail Audit. Unit sales were up 7 percent. Sales r...

 HEADLINE NEWS - Ski Area Management

Three Ski Patrollers Die at Mammoth

SAM Magazine-Mammoth Lakes, Calif., April 10, 2006-Three Mammoth Mountain ski patrollers died last Thursday while working to fence off a geothermal vent following a heavy snowfall. The snow they were standing on collapsed and they fell into a 20-foot-deep well around the vent. Two patrollers, John McAndrews and James Juarez, were attempting to r...

 HEADLINE NEWS - Ski Area Management

Bear Valley Decision Reaffirms Assumption of Risk Doctrine

SAM Magazine-Calaveras County, Calif., April 10, 2006-A court here ruled late last week that Bear Valley Ski Company is not liable for a 2000 terrain park accident that left former employee Charlene Vine paralyzed from the waist down. Vine had sued the ski resort after she broke her spine in 2000 during an employee party while attempting to ride he...

 HEADLINE NEWS - Ski Area Management

Crotched Mountain Refinanced

SAM Magazine--April 4, 2006--Crotched Mountain, N.H., was refinanced for $8 million with Entertainment Properties Trust, a real estate investment trust. Crotched Mountain was resurrected in 2002 when Missouri-based Peak Resorts signed a lease to run the area. Peak made significant investments in snowmaking, lifts, a new base lodge and more, and...

 HEADLINE NEWS - Ski Area Management

Jacques Hebert, Quebec Icon, Dies

SAM Magazine-St. Sauveur, Que., Mar. 21, 2006-Jacques Hebert, chairman of Mont Saint Sauveur International, which operates Jay Peak and several Quebec areas, died Mar. 17 after a brief illness. He had been involved in managing the company since the 1960s and was an icon in the Quebec ski industry. Under his leadership, the company purchased Jay Pea...

 HEADLINE NEWS - Ski Area Management

Investor Group Puts Faith in Magic

SAM Magazine-Londonderry, Vt., Mar. 20, 2006-An investment group led by a Connecticut lawyer is set to purchase Magic Mountain ski area here for about $3 million, according to the current owners. A report in the Brattleboro (Vt.) Reformer termed the deal "imminent." The sale would give Magic its fourth owner in the last 10 years. Magic general ...

 HEADLINE NEWS - Ski Area Management

American Skiing Co. Posts Higher Revenues, Smaller Loss

SAM Magazine-Park City, Ut., Mar. 16, 2006-American Skiing Company (ASC) reported total consolidated revenue of $112.5 million for the second quarter of fiscal 2006, up 6 percent from $106.1 million for the year-earlier period. Revenue from resort operations was $109.9 million compared with $103.4 million in 2005. This year's total represents a rec...

 HEADLINE NEWS - Ski Area Management

Colorado Resorts on Pace for Record Visits

SAM Magazine-Denver, Colo., Mar.14, 2006-Colorado resorts hosted a record 5.2 million-plus skiers and snowboarders from Jan. 1 through Feb. 28, according to Colorado Ski Country USA (CSCUSA). This represents an increase of more than five percent over the same time period last season, and more than 230,000 visits ahead of the state's previous best J...

 HEADLINE NEWS - Ski Area Management

Despite Warm January, Retail Sales Rock On

SAM Magazine-McClean, Va., Mar. 14, 2006-Overall sales for the winter sport market were up 9 percent to $1.8 billion for the August 2005 through January 2006 period, compared to $1.7 billion a year earlier, according to the SIA Retail Audit. Unit sales were up 8 percent. Sales at specialty ski and snowboard shops were up 8 percent, to $1.4 billi...

 HEADLINE NEWS - Ski Area Management

Arizona Snowbowl to Open Mar. 17

SAM Magazine-Flagstaff, Ariz., Mar. 14, 2006-The Arizona Snowbowl will open on Friday, Mar. 17, after a recent storm cycle dropped 56 inches of snow. Snowbowl had received just 22 inches in the 2005-06 season prior to the recent storms, leading to the latest opening in the resort's history. "We are happy to finally open for the skiers and snowbo...

 HEADLINE NEWS - Ski Area Management

Vail Posts Record Fiscal 2006 Second Quarter

SAM Magazine--Vail, Colo., March 13, 2006--Vail Resorts released its second quarter results today (three months ended January 31) and the snow gods were kind. First, the company reports that skier visits increased 7.9 percent over the same period last year, giving Vail Resorts a new skier visit record--2,875,000 million versus 2,664,000 during the...

 HEADLINE NEWS - Ski Area Management

intrawest Sells Mammoth Real Estate

SAM Magazine--March 13, 2006, Vancouver, B.C.--After the sale of Mammoth Mountain to Starwood Capital, Intrawest announced today that it will sell the majority of its real estate holdings in the town of Mammoth Lakes for $60 million pre-tax profit to the same company. The real estate comprises the future development of over 1,100 residential units ...