Jay Peak Resort is up for sale following the fallout from an EB-5 scandal that has led to fraud allegations and criminal charges. The transaction process is now in the hands of a federal receiver (basically a government agent who steps in to handle such things once wrongdoing has been proven). But who will be the buyer?
VTDigger is reporting that Vail Resorts is not interested in Jay Peak Resort in Vermont’s Northeast Kingdom. However, Vail Resort’s rival Alterra Mountain Company has visited the resort and is rumored to be interested in the East Coast powder paradise.
Walter Elander, Jay Peak’s director of mountain planning and development, recently spoke at a town meeting where he said that 26 parties who have signed NDAs and are interested in buying the resort including Alterra Mountain Company.
As for Vail, Steven Wright, Jay Peak’s general manager told VTDigger, “Do you assume that because they haven’t yet shown interest, that there’s a lack of interest, or is there something more forward-looking than that? I don’t really have an optic into that.”
“We could take a phone call tomorrow where there’s interest from them or a new party,” Wright said.