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Vail Resorts, Inc. (NYSE: MTN) is the premier mountain resort company globally, renowned for its luxury, destination-based travel experiences at iconic locations. The company's mission is to create the experience of a lifetime for both its employees and guests by continuously investing in team development, infrastructure, and training programs. Vail Resorts operates through three main segments: Mountain, Lodging, and Real Estate.
Mountain Segment: This segment includes world-class ski resorts such as Vail Mountain, Whistler Blackcomb, Park City Mountain, Breckenridge, and Stowe. These resorts offer diverse winter and summer activities, including skiing, snowboarding, hiking, and mountain biking.
Lodging Segment: The Lodging segment encompasses a collection of elegant hotels under the RockResorts brand, vacation rentals, condominiums, and branded hotels near the company's mountain destinations. Notable properties include the Grand Teton Lodge Company in Jackson Hole, Wyoming.
Real Estate Segment: This segment focuses on owning, developing, and leasing real estate, primarily near its other properties, adding to the company's revenue streams through strategic property developments.
Recent Achievements: Vail Resorts has been named one of the world's 50 most innovative companies by Fast Company. The company has also launched significant projects like My Epic App and My Epic Gear, designed to enhance guest experiences with features such as interactive trail maps, lift line wait times, and gear rental services.
Financial Condition & Partnerships: Despite challenging conditions across its North American resorts due to lower snowfall, Vail Resorts reported an increase in Resort Reported EBITDA by 8% in the second quarter of fiscal 2024. The company's balance sheet remains strong with approximately $1.4 billion in cash and revolver availability as of January 31, 2024.
Current Projects: Vail Resorts aims to achieve a zero net operating footprint by 2030, broadening engagement in winter sports and supporting local communities. They have recently launched Epic Passes for the 2024/25 season and are committed to continuous investments in lift upgrades and innovative technologies.
For more information, visit Vail Resorts and Epic Pass.
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.
Vail Resorts, a leading mountain resort operator, has announced a 20% reduction in pricing for the 2021/22 Epic Pass. Customers purchasing by May 31 can secure a pass with a $49 down payment and receive 10 Buddy Tickets for discounted lift tickets. The price reset reflects levels last seen in the 2015/16 season, offering access to over 80 resorts. Vail Resorts is set to invest $120 million this year in enhancements, including new lifts and terrain expansions.
Vail Resorts, Inc. (NYSE: MTN) will release its financial results for the fiscal third quarter 2021, ending April 30, 2021, after market close on June 7, 2021. A conference call is scheduled for 5:00 p.m. eastern time the same day, where executives will discuss the results. The call can be accessed through the company's website, with a replay available until June 21, 2021.
Vail Resorts operates 37 world-class mountain resorts and is a leading global mountain resort operator.
Vail Resorts (NYSE: MTN) updated its financial guidance for the nine months ending April 30, 2021, projecting net income between $258 million and $280 million, and Resort Reported EBITDA between $636 million and $650 million. The increase in guidance is primarily due to stronger performance in March and April, particularly at its Colorado and Utah resorts. However, Whistler Blackcomb's performance remains adversely affected by COVID-19 restrictions. The company reports strong early season pass sales and anticipates further details in the third quarter earnings release scheduled for June 2021.
Vail Resorts, Inc. (NYSE: MTN) announced significant leadership changes on April 12, 2021. Patricia Campbell, president of the mountain division, will transition to a senior advisor role, focusing on strategic projects and diversity initiatives. James O'Donnell will succeed her as president, bringing 20 years of experience at Vail Resorts. Greg Sullivan will take over as senior vice president overseeing retail and hospitality, and Bill Rock has been promoted to executive vice president of mountain operations. These changes take effect on June 7, 2021, as part of a planned leadership succession to enhance operational excellence.
Vail Resorts has announced a 20% price reduction on its Epic Pass products as part of its Epic for Everyone initiative. All pass types, including the Epic Local Pass and Epic Day Pass, have seen significant price cuts, making skiing more accessible. The Epic Local Pass is now $583 (down from $729), and the full Epic Pass is $783 (down from $979). The company anticipates that this reduction will drive increased engagement and revenue, especially as more new customers opt for passes over traditional lift tickets.
Vail Resorts, Inc. (MTN) reported a net income of $147.8 million for Q2 FY2021, down 28.4% due to COVID-19 impacts. Resort EBITDA decreased to $276.1 million from $378.3 million the previous year, amid capacity restrictions and challenging conditions. Season-to-date skier visits fell 8.2%, with lift revenue down 8.9%. Although local visitation improved, ongoing restrictions severely impacted ski school and dining revenues. The company maintains strong liquidity with $1.4 billion in cash and expects Q3 EBITDA between $560 million and $600 million assuming stable demand and regulations.
Vail Resorts, Inc. (NYSE: MTN) will release its fiscal second quarter 2021 financial results on March 11, 2021, after market close. The call is scheduled for 5:00 p.m. eastern time the same day, where executives will review the results. Investors can listen to the call via the company’s website or by dialing in at (800) 289-0438 for U.S. calls. A replay will be available shortly after the call until March 25, 2021. Vail Resorts operates renowned mountain resorts and is a leader in the global ski industry.
Vail Resorts, a leading mountain resort operator, has renewed partnerships with eight companies, including PepsiCo and GMC, and introduced a new partnership with Luggage Forward. These collaborations aim to enhance guest experiences during the 2020/21 ski season. Vail Resorts is committed to sustainability and customer convenience, focusing on waste reduction and innovative services like luggage shipping. The company now has strategic alliances with 20 partners, emphasizing its mission to provide exceptional experiences while ensuring safety during the ongoing pandemic.
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