Vail Resorts, Inc. - MTN STOCK NEWS

Whistler Blackcomb, North America's largest ski resort, appointed Belinda Trembath as Vice President & Chief Operating Officer, effective May 15, 2023. With over 30 years of experience in the ski industry, Trembath has held significant roles, including Vice President & General Manager at prominent Australian resorts like Perisher and Mt. Hotham. Trembath's leadership during the pandemic has been notable, aiding in the successful operations of multiple resorts. She aims to preserve mountain cultures while enhancing experiences for employees and guests. Recently, Whistler Blackcomb was recognized as the best ski resort in North America by Condé Nast Traveler. Trembath's responsibilities will encompass Mountain Operations, Food & Beverage, and more.

Vail Resorts (NYSE: MTN) has introduced My Epic Gear, a new membership program slated for launch before the 2024/25 winter season. This program allows members to select preferred ski and snowboard gear, available for both full-season and daily use, with guaranteed delivery at participating resorts. Members benefit from customized boot fittings and the convenience of slopeside drop-off and pick-up, managed through the My Epic app. The offering aims to provide the advantages of gear ownership without the associated hassles. A pilot will run during the 2023/24 season for select Epic Pass Holders at various resorts.

Vail Resorts, Inc. (MTN) reported a net income of $208.7 million for Q2 FY2023, down from $223.4 million in Q2 FY2022. Resort EBITDA was $394.8 million, just below last year's $397.9 million. Season-to-date skier visits rose 3.6%, and lift revenue increased by 2.5%. The company raised its fiscal 2023 guidance, expecting net income between $282 million and $328 million, and EBITDA between $831 million and $859 million. An 8% dividend increase to $2.06 per share was approved, alongside a 2.5 million share repurchase authorization. Weather disruptions impacted visitation, particularly in Eastern U.S. resorts, affecting operational days and revenue.

Vail Resorts announces the launch of the 2023/24 Epic Pass options, available for purchase at competitive prices: Epic Pass at $909, Epic Local Pass at $676, and customizable Epic Day Pass starting at $86 per day. Key enhancements include a new Mobile Pass feature allowing access via smartphones, eliminating plastic waste. Vail Resorts is investing in additional lift upgrades across key resorts, including Breckenridge and Whistler Blackcomb, enhancing guest experience. The company has also expanded European partnerships, enhancing ski access. Notably, no reservations are required for most resorts for the upcoming season, adding convenience.

The 2023/24 Epic Pass goes on sale March 7, offering unlimited access to Disentis in Switzerland, enhancing Vail Resorts' European presence. Following the acquisition of a majority stake in Andermatt-Sedrun, Disentis becomes part of the Epic Pass network, creating access to 111 miles of pistes. The pass also includes extended partnerships with Les 3 Vallées in France, Ski Arlberg in Austria, and Skirama Dolomiti in Italy. Pass holders will enjoy exclusive access to the Matterhorn Gotthard Bahn at a discounted price during the 2023/24 season. This strategic expansion highlights Vail Resorts' commitment to enhancing skier experiences.

Vail Resorts announced its new My Epic app, launching in fall 2023, which will feature hands-free Mobile Pass and Mobile Lift Ticket technology for the 2023/24 season. This innovation enhances guest experience by allowing users to purchase, activate, and store tickets on their phones, reducing wait times at ticket windows. The app will also include features like interactive trail maps, real-time lift line updates, and weather alerts. The company aims to support its Commitment to Zero sustainability goal, minimizing plastic waste from traditional pass cards. The sale of Epic Passes starts on March 7.

Vail Resorts, Inc. (NYSE: MTN) has announced a leadership change in its Mountain Division. Effective May 1, 2023, Bill Rock, currently Executive Vice President and Chief Operating Officer, will replace James O'Donnell, who is leaving the company as of March 3, 2023. Rock has nearly three decades of experience in the ski industry and has held significant roles at Vail Resorts since joining in 2010. His successful track record includes overseeing major projects and multiple resorts. CEO Kirsten Lynch expressed confidence in Rock's capabilities. O'Donnell held his position since 2021 and was instrumental in the development of leaders within the company.

T-Mobile US (NASDAQ: TMUS) has partnered exclusively with Vail Resorts (NYSE: MTN) in a multi-year agreement to implement 5G technology across its 36 mountain resorts. This collaboration aims to enhance network coverage, improve resort operations, and achieve sustainability goals, aligning with Vail's Commitment to Zero initiative targeting a zero net operating footprint by 2030. T-Mobile's extensive 5G network, noted as the largest and fastest in the U.S., will support over 1,000 resort employees and guests. The deal is expected to elevate customer experiences while promoting innovative business solutions.

Vail Resorts, Inc. (NYSE: MTN) will announce its fiscal Q2 2023 financial results on March 9, 2023, after market close. The results will cover the period ending January 31, 2023. Following the announcement, a conference call is scheduled for 5:00 PM ET, where executives will discuss the financial metrics. The call will be available for listeners through the Vail Resorts website and via telephone. A replay will be accessible two hours after the call concludes, lasting until 8:00 PM ET on March 16, 2023. For further details, visit the Investor Relations section of their website.