Pacific Group Resorts Inc. has won an auction to purchase Jay Peak Resort for $76 million, according to a court filing by the receiver overseeing the ski area.
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The sale is still subject to approval by Judge Darrin P. Gayles, who has presided over the receivership in federal court in Miami of the Northeast Kingdom ski area since regulators brought a civil enforcement against the resort’s former owner, Ariel Quiros, and its president, Bill Stenger, in April 2016.
A hearing is set for Sept. 16, according to the filing Thursday morning by Michael Goldberg, the court-appointed receiver who has overseen Jay Peak for the past six years.
Pacific Group Resorts had made an initial bid of $58 million for the ski resort, according to earlier court filings leading up to the auction. A daylong auction took place Wednesday, with “multiple bidders,” Pacific Group stated in its release.
The transaction is expected to close prior to the 2022-23 ski and snowboard season, the release added.
Pacific Group Resorts Inc., based in Park City, Utah, is a hospitality company that owns and operates a portfolio of resorts, hotels, and vacation rentals.
