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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

Pacific Northwest Posts Strong Season

SAM Magazine--Hood River, Ore., June 14, 2004--The Pacific Northwest Ski Areas Association (PNSAA) announced that the region is on track for its third best season ever with 4.71 million visits forecast. Washington state recorded 1.86 million and Oregon is projecting 1.63 million once the summer season ends. PNSAA encompasses resorts in Washingto...

 HEADLINE NEWS - Ski Area Management

Vail Releases Third Quarter Figures and Raises Pass Price

SAM Magazine--Vail, Colo., June 14, 2004--Vail released its financial results for the third quarter ended April 30, 2004, and the news was all good. In fact, it was their best third quarter ever thanks mainly to a jump in the company's mountain segment, a 10.2 percent growth in average realized price for the ski season and record visits for Beaver ...

 HEADLINE NEWS - Ski Area Management

Tamarack Sells Out Second Stage

SAM Magazine--Donnelly, Idaho, June 15, 2004--Tamarack resort had its second straight sell-out when it unloaded 64 real estate products, raising approximately $33.4 million for scheduled development. Homebuyers from Idaho (58 percent), California (28 percent), Oregon (4.6 percent) and Georgia (3.1 percent) bought 10 cottages, 18 resort-built chalet...

 HEADLINE NEWS - Ski Area Management

Eaglecrest Gets Boost From Juneau

SAM Magazine--Juneau, Alaska, June 15, 2004--In addition to the $300,000 the City and Borough of Juneau gives to Eaglecrest Ski Area each year, the resort was granted another $100,000 in order to offset a projected shortfall of $652,000 next year. Eaglecrest is a municipally-owned area that relies on local users to cover 70 percent of operating exp...

 HEADLINE NEWS - Ski Area Management

New York Reports Over 4 Million Visits

SAM Magazine--June 28, Tully, N.Y.--Ski Areas of New York announced that New York State ski areas received 4,034,325 skier/snowboard visits for the 2003/04 season, making it the third best season on record. The 50 ski and snowboard resorts that call New York home had a record season last year with 4,256,507 visits and attribute the drop off this ye...

 HEADLINE NEWS - Ski Area Management

Mountain High Buys Ski Sunrise

SAM Magazine--Wrightwood, Calif., July 6, 2004--Mountain High Resort is purchasing neighboring Ski Sunrise for about $375,000. The sale of the 97-acre area, located about one mile from Mountain High's existing East and West areas, is set for mid-July. Mountain High GM Karl Kapuscinski told SAM that, in the short term, Sunrise will be used as a t...

 HEADLINE NEWS - Ski Area Management

Intrawest, A&K to Market Luxury Adventures

SAM Magazine--Vancouver, B.C., July 7, 2004--Intrawest has acquired an equity interest in the Abercrombie & Kent Group (A&K), a leading luxury adventure-travel company. The companies will offer a range of high-end travel, leisure and vacation experiences at destinations around the globe. Terms of the transaction were not disclosed. Abercrombie &...

 HEADLINE NEWS - Ski Area Management

Is Vail for Sale

SAM Magazine--Vail, Colo., July 9, 2004--Vail Resorts has been actively seeking a buyer for some or all of its assets, according to reports in the Denver Post and the Vail Daily, based on several unofficial sources in Vail valley. Speculation about a possible sale has also been fueled by a recent runup in the price of Vail stock (currently about $1...

 HEADLINE NEWS - Ski Area Management

ASC Pays Triple Peaks $5.1 Million to Settle Suit

SAM Magazine--Ludlow, Vt., July 13, 2004--American Skiing Company (ASC) will pay $5.1 million to settle its lawsuit with Triple Peaks, LLC, stemming from ASC's last-minute termination of the proposed sale of the Steamboat Ski Resort to Triple Peaks in 2001. In return, Triple Peaks has agreed to a full dismissal of all claims relating to the sale. ...

 HEADLINE NEWS - Ski Area Management

Gray Rocks to Close for Winter

SAM Magazine--Mont Tremblant, Que., July 13, 2004--Gray Rocks Inn and ski area will close its doors on Oct. 10, marking the first time in a nearly a century that the Gray Rocks Inn will close for the winter and shuttering one of the pioneering ski areas of the region. Owner Phillip Robinson blamed the extreme cold and the general tourism slump f...

 HEADLINE NEWS - Ski Area Management

ASC Expands Discount Pass Offer

SAM Magazine--Park City, Utah, July 13, 2004--In a move that entrenches discounted season's passes in the Northeast, American Skiing Co. (ASC) is introducing an All for One Pass valid at the company's six Eastern resorts, at prices ranging from $349 to $599. The passes are based on a similar offer introduced last winter at Attitash Bear Peak and Su...

 HEADLINE NEWS - Ski Area Management

Summit County Denies Copper Plan

SAM Magazine--Copper Mountain, Colo., July 13, 2004--Summit County Commissioners have denied Intrawest's long-term development plan for doubling the size of Copper Mountain after a three-year planning process. Intrawest was seeking land-use approval for 1,155 additional residential units at Copper, beyond the 500 remaining units in its current p...

 HEADLINE NEWS - Ski Area Management

Ski Areas Measure Environmental Conservation for 2003

SAM Magazine--Lakewood, Colo., July 15, 2004--The ski industry has made substantial progress in its efforts to reduce environmental impacts, according to the Sustainable Slopes Annual Report prepared by the National Ski Areas Association (NSAA). The report is based on information from 62 resorts representing 19 states and three Canadian provinces. ...

 HEADLINE NEWS - Ski Area Management

Vail Commits $600,000 to Diversity Program

SAM Magazine--Vail, Colo., July 21, 2004--Vail Resorts has committed approximately $600,000 in cash and in-kind contributions to the Alpino 10,000 Project, which aims to introduce 10,000 Denver-area youth to snowsports in Colorado over the next two years. For each of the 2004-05 and 2005-06 seasons, Vail will contribute $5,000 a year to the Alpi...

 HEADLINE NEWS - Ski Area Management

OLN to Broadcast USSA Ski, Snowboard Events

SAM Magazine--Park City, Utah, July 21, 2004--OLN will broadcast 22 hours of original ski and snowboard event programming annually, with multiple re-airings, according to terms of a multi-year agreement between the sports channel and the U.S. Ski and Snowboard Association (USSA). OLN is in 59 million homes and televises events such as the Tour de F...