The Jay Peak Saga
- Thread starter tirolski
- Start date
What’ll it take to winit?
Place yer bets.
unofficialnetworks.com
<$70 million is just a guess.
Place yer bets.
Jay Peak Auction Is Happening Today (At Least Three Parties Bidding)
We will soon know the new owner of Jay Peak Resort in Vermont. The Storm Skiing Journal reports that the auction for Jay Peak is set for today at 11 a.m. EST, and at least three parties will be mak…
unofficialnetworks.com
After daylong auction, winning bidder for Jay Peak remains a mystery - VTDigger
Steven Wright, the general manager of Jay Peak Resort, said Wednesday night that more information about the Northeast Kingdom property’s future owner would be available on Thursday.
vtdigger.org
Who owns Jay Peak? Winning bid to be announced
The opening bid for one of the largest ski resorts in Vermont was $58 million.
www.mychamplainvalley.com
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MarzNC
Well-known member
- Joined
- Jul 18, 2020
As Stuart points out in his article, things could still change in terms of what company ends up the new owner of Jay Peak. The most recent example is what happened for Timberline in WV in 2019 that led to the Perfect family becoming the new owner.
September 8, 2022
www.stormskiing.com
September 8, 2022
Mystery Buyer Wins Auction for Jay Peak
Winning bid has 30 days to reveal identity
www.stormskiing.com
MarzNC
Well-known member
- Joined
- Jul 18, 2020
Sounds like the new owner will be known after the "final sale hearing" in Miami on Sept. 16, which is a public hearing.After daylong auction, winning bidder for Jay Peak remains a mystery - VTDigger
Steven Wright, the general manager of Jay Peak Resort, said Wednesday night that more information about the Northeast Kingdom property’s future owner would be available on Thursday.Who owns Jay Peak? Winning bid to be announced
The opening bid for one of the largest ski resorts in Vermont was $58 million.
Winner, winner, chicken dinner.
liftblog.com
Pacific Group Resorts Wins Jay Peak Auction
Park City based Pacific Group Resorts, Inc. placed the highest bid at an auction yesterday for Jay Peak Resort. Subject to court approval, Jay will join PGRI’s group of five ski resorts locat…
liftblog.com
MarzNC
Well-known member
- Joined
- Jul 18, 2020
September 8, 2022
www.mynbc5.com
Jay Peak Resort announces new owner following auction
No major operating changes are expected at Jay Peak as part of the sale, and all existing season passes and multi-resort pass arrangements will be honored.
www.mynbc5.com
MarzNC
Well-known member
- Joined
- Jul 18, 2020
Here's what Pres./GM Steve Wright posted today on the Jay Peak website.
September 8, 2022
Dear Jay Peaker,
I’m happy to announce that Pacific Group Resorts (PGRI) has secured the winning bid to purchase Jay Peak and will immediately begin the process of preparing for a closing that will take place heading into the fall. These are sentences nearly 7 years in the writing and I’m very happy to share them with you all. For those of us on this side of the operational fence, this has been a long time coming and it’s news that gives us great hope for our future.
But it is those of you on the other side—Season Passholders, Homeowners, Vacationers, Day Trippers, and anyone organized in a way to consider themselves Raised Jay—that we really have to thank for getting this far. Those who stuck with us through the first days of Receivership. Those that, with our staff, navigated 6.5 years of Receivership, 2 years of Covid-impacted operating environments, and those that believed experiences like what we offer at Jay Peak were worth staying connected to—despite those things trying to pull us apart.
During the past 6.5 years, our team has tried to focus on what the opportunity of Receivership presented to us. Refocusing on what was most important, building better relationships with our team members, our community, and stakeholders like those reading this, and trying to position the business in a way that would make responsible growth more manageable as we came under new ownership.
And now with PGRI, an industry leader in running resorts that calibrate well to our particular size and frequency, we are moving forward with a partner that believes, as we do, that people come first, recognize Jay Peak’s reputation within the local community and more broadly in the ski industry, and are as enthusiastic about the future as we are.
Offering written thanks to those of you that helped get us here feels underwhelming—especially to our Canadian core that’s spent the better part of two years away from us, to Vermonters and weekenders that navigated onerous Covid operating protocols to spend time here, and season passholders and homeowners that have consistently made investments in experiences that align with sports that they love and the things they believe in.
Internally, back in 2016, we talked about a new line of before and after being drawn for us. Today, I’m happy to say there’s another one being drawn, a decidedly more hopeful one, and I’m very grateful, as the whole team here is, to be on the other side of it with you.
Thanks again so much.
-Steve
September 8, 2022
ANOTHER STOP ALONG THIS LONG, STRANGE TRIP.
AN UPDATE ON THE RESORT SALE - SEPTEMBER 8TH, 2022Dear Jay Peaker,
I’m happy to announce that Pacific Group Resorts (PGRI) has secured the winning bid to purchase Jay Peak and will immediately begin the process of preparing for a closing that will take place heading into the fall. These are sentences nearly 7 years in the writing and I’m very happy to share them with you all. For those of us on this side of the operational fence, this has been a long time coming and it’s news that gives us great hope for our future.
But it is those of you on the other side—Season Passholders, Homeowners, Vacationers, Day Trippers, and anyone organized in a way to consider themselves Raised Jay—that we really have to thank for getting this far. Those who stuck with us through the first days of Receivership. Those that, with our staff, navigated 6.5 years of Receivership, 2 years of Covid-impacted operating environments, and those that believed experiences like what we offer at Jay Peak were worth staying connected to—despite those things trying to pull us apart.
During the past 6.5 years, our team has tried to focus on what the opportunity of Receivership presented to us. Refocusing on what was most important, building better relationships with our team members, our community, and stakeholders like those reading this, and trying to position the business in a way that would make responsible growth more manageable as we came under new ownership.
And now with PGRI, an industry leader in running resorts that calibrate well to our particular size and frequency, we are moving forward with a partner that believes, as we do, that people come first, recognize Jay Peak’s reputation within the local community and more broadly in the ski industry, and are as enthusiastic about the future as we are.
Offering written thanks to those of you that helped get us here feels underwhelming—especially to our Canadian core that’s spent the better part of two years away from us, to Vermonters and weekenders that navigated onerous Covid operating protocols to spend time here, and season passholders and homeowners that have consistently made investments in experiences that align with sports that they love and the things they believe in.
Internally, back in 2016, we talked about a new line of before and after being drawn for us. Today, I’m happy to say there’s another one being drawn, a decidedly more hopeful one, and I’m very grateful, as the whole team here is, to be on the other side of it with you.
Thanks again so much.
-Steve
snoloco
Well-known member
- Joined
- Jan 1, 2021
Now that they are out of receivership, they can finally make some much needed improvements, the first of which needs to be replacing the Bonaventure Quad. One of the worst lifts out there in my opinion. It's too slow and stops all the time. And because it serves so much terrain, you're going to be stuck riding it a lot. It should've been replaced a decade ago.
Sold for $76 million.
Was close ... but no cigar.
Pacific Group Resorts Wins Auction for Jay Peak with $76 Million Bid
Jay will become group’s sixth ski area if court approves bid
www.stormskiing.com
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