After a tumultuous few years that has seen a financial scandal as well as plenty of new construction, the path may be cleared for Vermont’s Jay Peak to have a new owner.
According to an article on WCAX.com, this month marks an important milestone in Jay Peak’s recovery from a fraud scandal that put the resort’s development and future in jeopardy. A recent settlement between former co-owner Ariel Quiros and the federal government means the resort can finally start looking for a new buyer.
Resort officials are expected to begin looking for a buyer this summer. Potential buyers have reportedly already been inspecting the resort.
Jay Peak has been under construction for about a decade, expanding from a mostly winter attraction to a four-season resort, adding a water park, hotels and more. The resort now has a staff of roughly 1,500, which is roughly six or seven times the number of employees they had a decade ago.