Vail Resorts, Inc. - MTN STOCK NEWS

Vail Resorts and Toyota have formed a multi-year strategic partnership affecting 33 mountain resorts in the U.S. This collaboration aims to enhance guest experiences through various initiatives, including Toyota vehicles for resort operations and new terrain features. Guests can expect innovative activations like the Toyota Banked Slalom course and complimentary valet services. Both companies emphasize safety, sustainability, and community impact, committing to carbon neutrality and contributing to local communities through Vail's EpicPromise platform, which donated $18.3 million during the 2019/20 season.

Vail Resorts (NYSE: MTN) has announced a significant capital investment of $315 million to $325 million for the 2022-23 ski season, marking its largest single-year commitment to enhancing the guest experience. This plan includes the installation of 19 new chairlifts, comprising 12 high-speed lifts and a new 8-person gondola across 14 resorts. The initiative aims to reduce wait times, increase uphill capacity, and improve access to ski terrains, contributing to an overall investment of approximately $2.2 billion in a 15-year period for guest experience upgrades.

Vail Resorts, Inc. (NYSE: MTN) reported a net income of $127.9 million for fiscal 2021, a 29.4% increase from fiscal 2020, despite COVID-19 impacts. Resort EBITDA was $544.7 million, up 8.2%. Season pass sales for 2021/2022 surged 42% in units and 17% in dollars compared to the previous year. The company issued a fiscal 2022 guidance with EBITDA expected between $785 million and $835 million but anticipates a net loss of $156 million to $136 million in Q1 due to ongoing COVID-19 issues. A $315-$325 million capital investment plan for improvements was also announced, alongside a cash dividend of $0.88 payable in October.

Vail Resorts, Inc. (NYSE: MTN) will release its financial results for the fiscal year ending July 31, 2021, post-market on September 23, 2021. A conference call hosted by executives is set for 5:00 p.m. ET that same day to discuss the results. Investors can access the call via the company's website or by telephone. A replay will be available two hours after the call until October 7, 2021. Vail Resorts operates 37 mountain resorts and regional ski areas across North America, Australia, and Europe.

Vail Resorts announces its 2021/22 ski season, beginning with Keystone opening in October. With a focus on safety, the company has invested in a new snowmaking system to extend the ski season. The Epic Pass is being sold at a 20% discount for Labor Day, now priced at $783, down from $979. The company lists opening dates for 34 resorts, emphasizing new terrain and lift enhancements. Vail Resorts continues to prioritize health and safety protocols amidst COVID-19.

Vail Resorts (NYSE: MTN) announced Kirsten Lynch as the new CEO, effective November 1, 2021, succeeding Rob Katz, who will become executive chairperson. Lynch has been with Vail since 2011 and is credited with transforming its marketing strategy. Ryan Bennett will take over as CMO. Katz highlighted Lynch's leadership and vision for the company's growth and diversity initiatives. This transition follows a challenging period for Vail Resorts, marking a pivotal moment in its leadership and strategic direction.

Vail Resorts has announced a 20% price reduction on its entire lineup of 2021/22 Epic Pass products, including Epic Pass, Epic Local Pass, and Epic Day Pass. This offer ends on Labor Day, September 6, 2021. The Epic Pass grants unlimited access to 34 North American resorts, including Vail and Breckenridge, and aims to enhance customer access during the winter season. The company is also investing $120 million into capital improvements across its resorts, boosting the on-mountain experience for skiers and riders.

Vail Resorts, Inc. (NYSE: MTN) reported a net income of $274.6 million for Q3 FY2021, an 80% increase from last year, driven by full operations post-COVID restrictions. Resort EBITDA grew 51.9% to $462.2 million. The company anticipates FY2021 EBITDA of $530-570 million, contingent on no further pandemic-related disruptions. Season pass sales for the 2021/2022 season increased by 50% in units versus 2019, boosted by a 20% price reduction. Despite this, Whistler Blackcomb's visitation fell 60% compared to 2019 due to international travel bans.