Vail Resorts - MTN STOCK NEWS

Vail Resorts, Inc. (NYSE: MTN) announced the resignation of CFO Michael Barkin, effective December 31, 2022, after nearly a decade in his role. Barkin's departure, noted for his significant contributions to the company's growth, comes as he pursues personal opportunities. He joined Vail Resorts in 2012, serving as CFO since March 2013 and played a pivotal role in the company's expansion with the acquisition of 34 resorts globally. The leadership team expressed gratitude for his expertise and support during crucial transitions.

Vail Resorts reported Q3 fiscal 2022 net income of $372.6 million, up from $274.6 million year-over-year, highlighting a recovery from COVID-19 restrictions. Resort EBITDA increased to $610.5 million, reflecting improved conditions. Fiscal 2022 guidance was raised, expecting Resort EBITDA of $828-842 million, including revenues from newly acquired Seven Springs Resorts. Season pass sales for 2022/2023 showed a 9% increase in units and 11% rise in sales dollars. The company declared a dividend of $1.91 per share and plans significant investments in employee wages and capital projects.

Vail Resorts, Inc. (NYSE: MTN) will announce its fiscal 2022 third-quarter financial results on June 9, 2022, after market close. A conference call is scheduled for 5:00 p.m. ET the same day, where executives will review these results. Interested parties can listen to the call via the company's Investor Relations section on their website or by phone. A replay will be available shortly after the call and can be accessed until June 23, 2022. Vail Resorts operates 40 mountain resorts and regional ski areas, making it a leader in the global mountain resort industry.

Vail Resorts has launched its Summer Escape Sale, offering guests a 15% discount on lodging rates across its properties from May 24 to May 31. Epic Pass Holders benefit from more than 30% savings and exclusive early access starting May 19. The sale includes various resorts in the U.S. and Canada, with flexible booking policies for summer activities. Additional perks include discounts on food, lodging, golf, and scenic rides for pass holders, enhancing their summer experiences.

Vail Resorts, Inc. announces that May 30 is the final date to purchase the 2022/23 Epic Pass at the lowest price of $49 down, with no payments until September. Epic FlexPay allows for flexible monthly payments without interest after this date. New pass holders will have access to Andermatt-Sedrun, a ski resort in Switzerland, with the transaction expected to close before the next ski season. All pass holders receive discounts through Epic Mountain Rewards, enhancing their winter and summer experiences.

Vail Resorts, Inc. (NYSE: MTN) reported strong ski season metrics for the period ending April 17, 2022, indicating a 12.5% increase in total skier visits and a 19.4% rise in lift ticket revenue compared to the previous year. Season pass revenue saw significant growth, with ski school revenue up 53.0% and dining revenue increasing by 73.2%. CEO Kirsten Lynch noted that improved conditions in January led to robust sales, particularly in Colorado, Utah, and Whistler Blackcomb. The company now anticipates EBITDA to reach the upper end of its guidance for fiscal 2022.

Vail Resorts announced new investments to enhance affordable housing for employees, increasing capacity by over 10%. The investments will provide housing for 875 employees across Park City, Whistler Blackcomb, Vail Mountain, and Okemo Mountain Resort. Notably, Vail Resorts is committing approximately $17 million for a housing project in East Vail, expected to be completed by December 2023. This initiative is part of a broader commitment to employee welfare, which includes a $175 million investment in wages and guest experience enhancements for the 2022/23 season.

Vail Resorts, Inc. (NYSE: MTN) has agreed to acquire a 55% stake in Andermatt-Sedrun Sport AG from Andermatt Swiss Alps AG, marking its first entry into the European ski market. The investment of CHF 149 million aims to enhance the guest experience at one of Switzerland's premier ski resorts, located near major metropolitan areas. Vail will manage operational responsibilities and plans substantial capital investments for upgrades, anticipating over CHF 5 million in EBITDA for the fiscal year ending July 2024, with expectations of reaching over CHF 20 million annually within five to seven years.

Vail Resorts has launched its 2022/23 Epic Pass products, featuring the Epic Pass at $841 and Epic Local Pass at $626. The company plans a $175 million annual investment in employee wages, raising the minimum to $20 per hour, alongside a $300 million investment in mountain experiences with 21 new lifts across 14 resorts. New financing options include Epic FlexPay with zero down and interest for early purchasers. These changes are aimed at enhancing value for Pass Holders and improving the overall skiing experience.