Vail Resorts Stock Price, News & Analysis

Vail Resorts (NYSE: MTN) has appointed Kenny Thompson, Jr. as its first Chief Public Affairs Officer. This role, effective Dec. 5, 2022, will see Thompson oversee government relations, community relations, communications, sustainability, and the EpicPromise social responsibility platform. With over two decades of public affairs experience, including roles in the Obama White House and PepsiCo, Thompson aims to enhance corporate-community partnerships. CEO Kirsten Lynch praised his values and expertise in social impact.

Vail Resorts and Telluride Ski & Golf announced a multi-year extension of their partnership, enhancing access for Epic Pass holders. The Epic Pass ($879) and Epic Adaptive Pass ($421) will offer seven days at Telluride with no blackout dates, and discounts on further lift tickets. Additionally, Epic 4-7 Day Passes will provide access to Telluride with a 20% discount on additional tickets thereafter. This partnership, which began in 2018, reinforces Telluride's position in Vail's extensive resort network, benefiting both local and destination skiers.

Vail Resorts has announced a new technology for the 2023/24 North American ski season, allowing guests to store lift tickets and passes on their phones using Bluetooth® Low Energy. This innovation aims to enhance the guest experience by eliminating the need to carry plastic cards or visit ticket windows. The company expects to test this feature in the 2022/23 season, supporting its sustainability efforts by reducing plastic waste. Guests preferring physical cards will still have that option available.

Vail Resorts (NYSE: MTN) reported strong fiscal 2022 results with a net income of $347.9 million, up from $127.9 million in fiscal 2021, driven by a recovery from COVID-19 impacts. Resort EBITDA increased to $836.9 million, a 53.7% rise year-over-year. Season pass sales for the 2022/2023 ski season rose by 6% in units and 7% in sales dollars, bolstering future growth. The company forecasts fiscal 2023 net income between $321 million and $396 million, supported by ongoing investments and integration of recent acquisitions. A quarterly dividend of $1.91 per share is set for October 2022.

Vail Resorts has announced an expansion of its Epic for Everyone youth access program for the 2022/23 season, aiming to host 9,000 participants across 29 North American resorts. This year, the program will provide approximately $9 million in product contributions, including free lessons and equipment, and has added new partnerships with organizations to reach underrepresented youth. Vail Resorts Executive Chairperson Rob Katz and his wife will contribute $1.6 million in grants to support the program, demonstrating a commitment to increasing diversity in snow sports.

Vail Resorts, Inc. (NYSE: MTN) will disclose its financial results for the fiscal year ending July 31, 2022, on September 28, 2022, after market close. A conference call is scheduled for 5:00 p.m. Eastern Time that same day, where company executives will review these results. Interested parties can access the call via the company's Investor Relations website or by telephone. A replay of the call will be available for two weeks following the event. Vail Resorts operates a global network of ski resorts and is committed to achieving a zero net operating footprint by 2030.

Vail Resorts has announced the upcoming 2022/23 ski season plans, with opening dates for 37 North American resorts starting in October at Keystone. To enhance guest experience, lift ticket sales will be limited daily across all resorts. Significant investments are being made in employee pay, housing, and new lift upgrades, with 18 new chairlifts and gondolas scheduled. Dining facilities will operate without COVID-19 restrictions. The season is expected to last into May, with lodging discounts available for early bookings.

Vail Resorts is promoting its 2022/23 Epic Pass ahead of rising prices post-Labor Day on September 5. The Epic Day Pass offers up to 65% savings compared to regular lift ticket prices, targeting occasional skiers. New this season, the Epic Pass includes Andermatt-Sedrun in Central Switzerland, expanding access to 41 resorts globally. The company has invested in 18 lift upgrades to enhance guest experience and is focusing on employee satisfaction with improved pay and affordable housing options. Pass Holders can now utilize Epic FlexPay for easier payment plans.

Vail Resorts, Inc. (NYSE: MTN) has acquired a 55% stake in Andermatt-Sedrun Sport AG, a premier ski resort in Central Switzerland, for CHF 149 million. This marks Vail's first investment in a European ski resort, enhancing its foothold in the global market. With CHF 110 million earmarked for capital improvements, Vail aims to elevate the guest experience. Former Park City Mountain COO, Mike Goar, will lead the resort's operations. Additionally, Vail announced 2022-23 season pass access, offering Epic Pass holders unrestricted entry to Andermatt-Sedrun.