"Our entire ownership and management team is very excited to move [R192R, Jay Peak] forward toward a higher level of service and quality," said Bill Stenger, who has served as President and COO of Jay for the past 25 years.

Jay Peak homeowner Ariel Quiros of Key Biscayne, Fla., also has played a key role in the purchase of the northern Vermont resort from Mont Saint Sauver International (MSSI), owner/operator of Canadian-based ski resorts. MSSI had owned Jay since 1978.

Plans call for a new slopeside hotel with guest amenities, restaurants and skier services, and new lifts, improved snowmaking, and trail reconfiguration.

"The first hotel project with 57 suites is already underway with a golf clubhouse, cross-country touring center, and other amenities slated for groundbreaking within the next 12 months," said Stenger.

The Jay Peak Hotel One project is scheduled for completion the early months of 2009. Other key components of the Jay Peak Master Plan, including additional lifts, development of the West Bowl area, improved snowmaking, and Base Lodge evolutions/renovations, will be phased in over the next several years.

Visit Jay Peak's Web site for more details.