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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

Giant Future US Snowdome Launches Website

July 29, New Jersey (SnowHunter)--The joint developers of the $1.3 billion Xanadu project in New Jersey, Mills Corp. and Mack-Cali, have launched a website atYÂ¥ www.meadowlandsxanadu.com to showcase their plans. Xanadu would comprise five themed 'districts' over the 104-acre Continental Arena site.YÂ¥ The entertainment district will be the ...

 HEADLINE NEWS - Ski Area Management

SIA Joins VERB Fitness Campaign

SAM Magazine--McLean, Va., July 27, 2004--SnowSports Industries America (SIA) has joined the VERB campaign, a program of the Centers for Disease Control and Prevention (CDC) focused on motivating kids ages 9 to 13 to get more physically active. VERB is a comprehensive, multicultural campaign that reaches out via kid-cool advertising, promotion a...

 HEADLINE NEWS - Ski Area Management

Two Finalists Vie for Vail Resorts

Vail, Colo., July 30, 2004--Two large buyout firms are finalists in the possible sale of Vail Resorts, according to a report in the Denver Post. Sources have told the paper that Texas Pacific Group and Henry Kravis, a principal in New York investment firm Kohlberg Kravis Roberts (KKR), both submitted proposals this week. Sources said that VR's b...

 HEADLINE NEWS - Ski Area Management

Bombardier Purchased by Track Supplier

SAM Magazine--Sherbrooke, Que., Aug. 3, 2004--Bombardier Recreational Products Inc. is selling its industrial vehicle division, including snow groomers, to Quebec component-maker Camoplast Inc., which produces rubber tracks and components for groomers and other heavy-duty tracked vehicles. Terms of the transaction were not released. The sale is exp...

 HEADLINE NEWS - Ski Area Management

Vail Resorts Sale Off?

SAM Magazine--Vail, Colo., August 4, 2004--Vail Resorts' quest to find a buyer has been put on hold, according to a story in the Denver Post and other sources. According to reports, the investment firm of KKR withdrew its bid, and the offer from Texas Pacific Group was well below VR's asking price. Nobody from the companies involved has commente...

 HEADLINE NEWS - Ski Area Management

Booth Creek Sweetens Threedom Pass Benefits

SAM Magazine--North Conway, N.H., Aug. 4, 2004--The Threedom Pass, good at Booth Creek areas Cranmore, Loon, and Waterville Valley, offers increased benefits and options for the coming season. Unrestricted passes include college and youth passes ($199), teen passes ($249) and adult passes ($459). An adult pass with holiday blackout dates costs $319...

 HEADLINE NEWS - Ski Area Management

Silverton Allowed More Skiers

SAM Magazine--Silverton, Colorado, August 5, 2004--The U.S. Bureau of Land Management has given the OK to Silverton to host unguided skiers, up to 475 a day. The Bureau conducted a survey of the area, concentrating on avalanche safety, for three years before it rendered its recommendation. The fly in the ointment, however, is the recommendation...

 HEADLINE NEWS - Ski Area Management

Norton Steps Down at Crested Butte

SAM Magazine--Crested Butte, Colorado, August 5, 2004--John Norton, president and CEO at Crested Butte, announced that he will step down from that position to pursue a career in consulting. Norton will continue to work on projects for the ski resort as the point person for planning and approvals of expansion projects. Tim Mueller, the new owner ...

 HEADLINE NEWS - Ski Area Management

Response From NSAA Chairman Crowley to SAM

Dear Jennifer: I am writing in response to your open letter in the July 2004 SAM. As always, I respect SAM's role as an independent voice in the industry and I appreciate your willingness to voice your concerns on the future of NSAA and the industry. At the same time, I respectfully disagree with your opinion that the leaders of the industry hav...

 HEADLINE NEWS - Ski Area Management

Xanadu Breaks Ground on 29th September

August 9 (SnowHunter)--The Mills Corporation, leading developer of innovative retail and entertainment destinations, today announced a September 29, 2004 groundbreaking for Meadowlands Xanadu in New Jersey, USA. Following on from the company's completion of the Madrid Xanadu last year, it is hoped that this new development will house the first U...

 HEADLINE NEWS - Ski Area Management

Mount Baldy, B.C., Has New Band of Owners

SAM Magazine--Oliver, B.C., Aug. 9, 2004--Mount Baldy ski area is on a fast track for modernization, thanks to new owners and the pro-resort efforts of the B.C. government and the Osoyoos Indian Band (OIB). The B.C. government is encouraging new investment in the resort industry and was "instrumental, if not indispensable" in supporting new owne...

 HEADLINE NEWS - Ski Area Management

Yellowstone Club to Pay $1.8 Million for Wetlands Pollution

SAM Magazine--Big Sky, Mont., Aug. 11, 2004--The Yellowstone Club will pay $1.8 million and complete a list of resoration projects to settle claims brought against it by the Environmental Protection Agency for alleged violations of the Clean Water Act during 2001. Although the Club denies wrongdoing, it agreed to pay the penalty and replace or repa...

 HEADLINE NEWS - Ski Area Management

NSAA Reports 57 Million Visits in 2003-04

SAM Magazine--Lakewood, Colo., Aug. 11, 2004--U.S. ski areas tallied a total of 57.07 million visits during the 2003/04 season, according to the NSAA's final 2003/04 Kottke End-of-Season Survey. That represents the third best season in the industry's history and continues a hot streak: The past four seasons include the industry's three best seasons...

 HEADLINE NEWS - Ski Area Management

Intrawest Sells Commercial Stake Worth $160 Million

SAM Magazine--Vancouver, B.C., Aug. 12, 2004--Intrawest is forming a partnership with CNL Income Properties, Inc., a real estate investment trust, in which CNL will acquire an 80 per cent interest in commercial properties at nine Intrawest resort villages, with a total value of $160 million. Intrawest will continue to manage and lease all of the re...

 HEADLINE NEWS - Ski Area Management

Street, Weinbrecht Headline 2004 Hall of Fame

SAM Magazine--Ishpeming, Mich., Aug. 12, 2004--Olympic champions Picabo Street and Donna Weinbrecht, who both collected titles at the Olympic, World Championship and World Cup levels, headline the 2004 inductees for the U.S. National Ski Hall of Fame. Street earned an Olympic silver medal in downhill at Lillehammer, Norway, in 1994, then won gol...