Well, here's some news. For the past few years there's been a lot of speculation about who'd end up buying Jay Peak, Vermont. The resort has been on the block since 2016, when its management was involved in a huge scandal that included SEC fraud.
Now at long last, there's a potential buyer: Pacific Resorts Group has entered into an Asset Purchase Agreement (APA) to buy the mountain for $58 million, PRG owns and operates five other North American ski areas: Ragged Mountain, New Hampshire; Wisp, Maryland; Wintergreen, Virginia; Powderhorn, Colorado; and Mount Washington Alpine, British Columbia. Jay Peak would instantly become the company’s flagship resort.
I'd imagine this would include Burke, too, but I guess that remains to be seen.
The sale is not yet final. Others can still submit bids. One or more additional qualified bids may result in auction.
I love Jay. We had Diva East there a few years ago, and it's a fine mountain. So we'll see what happens.
Now at long last, there's a potential buyer: Pacific Resorts Group has entered into an Asset Purchase Agreement (APA) to buy the mountain for $58 million, PRG owns and operates five other North American ski areas: Ragged Mountain, New Hampshire; Wisp, Maryland; Wintergreen, Virginia; Powderhorn, Colorado; and Mount Washington Alpine, British Columbia. Jay Peak would instantly become the company’s flagship resort.
I'd imagine this would include Burke, too, but I guess that remains to be seen.
The sale is not yet final. Others can still submit bids. One or more additional qualified bids may result in auction.
I love Jay. We had Diva East there a few years ago, and it's a fine mountain. So we'll see what happens.