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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.
The National Brotherhood of Snowsports (NBS) has selected Keystone Resort for its 2025 Annual Summit, scheduled from February 22 to March 1, 2025. Organized in partnership with Vail Resorts, the event will attract approximately 1,500 participants. The summit aims to promote winter sports and support athletes of color in international competitions. Keystone Resort was chosen for its convenient access from Denver International Airport and its diverse terrain suitable for all skill levels. The event will feature a range of activities including tours, clinics, game nights, après parties, and concerts.
Vail Resorts (NYSE: MTN) reported its fiscal 2024 third quarter results, with net income rising to $362 million from $325 million the previous year. EBITDA for the quarter was $654.4 million, up from $623.3 million. The company adjusted its full-year guidance, forecasting net income between $224-$256 million and EBITDA between $825-$843 million. Early season pass sales for the 2024/25 ski season fell 5% in units but rose 1% in sales dollars. A $2.22 per share dividend was declared, and 0.3 million shares were repurchased. Vail completed the acquisition of Crans-Montana Mountain Resort in Switzerland, contributing a negative $12 million to fiscal 2024 EBITDA. The company issued $600 million in senior notes to refinance existing debt. Critical insights include the impact of challenging weather conditions on visitation and stronger ancillary spending.
Vail Resorts (NYSE: MTN) will release its fiscal third quarter 2024 financial results on June 6, 2024, after market close. Their quarter ended on April 30, 2024. A conference call to discuss the results will be held at 5:00 p.m. ET the same day, accessible through the company's website or via phone. The call's replay will be available until June 13, 2024.
Vail Resorts operates renowned ski resorts worldwide, including Vail Mountain, Breckenridge, and Whistler Blackcomb. Their portfolio also includes hotels, vacation rentals, and retail locations. The company aims for a zero net operating footprint by 2030.
Skiers and riders are urged to secure their 2024/25 Epic Pass before prices increase on Memorial Day, May 27. The pass provides access to 42 mountain resorts worldwide and offers exclusive benefits. Reasons to buy include the lowest price guarantee, down payment options, summer discounts, discounted buddy tickets, skip-the-line access, My Epic Gear memberships, new Switzerland resort addition, and enhanced mobile pass features. Various pass options cater to different preferences and budgets.
Vail Resorts, Inc. has acquired Crans-Montana Mountain Resort, its second ski resort in Europe, representing a strategic investment in the region. The acquisition includes ownership of lifts, ski schools, restaurants, and a total valuation of CHF 118.5 million. Vail Resorts plans to invest CHF 30 million in capital spending to enhance guest experiences over the next five years. Season pass details and access for the 2024/25 season were also announced. Appointments have been made to oversee operations in Switzerland, with Mike Goar appointed as regional COO and Pete Petrovski as managing director of Crans-Montana Mountain Resort.
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