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Vail Resorts, Inc. - MTN STOCK NEWS

Welcome to our dedicated page for Vail Resorts news (Ticker: MTN), a resource for investors and traders seeking the latest updates and insights on Vail Resorts stock.

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.

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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.

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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.

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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.

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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.

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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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Vail Resorts, Inc. announces the pricing of $600 million in aggregate principal amount of 6.500% senior notes due 2032. The offering is expected to close on May 8, 2024, and the proceeds will be used to fund the redemption of its outstanding 6.250% Senior Notes due 2025. The Notes and guarantees are offered to qualified institutional buyers and non-U.S. persons.
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Vail Resorts, Inc. (NYSE: MTN) announced a private offering of $600 million in senior notes due 2032 to fund the redemption of its outstanding 6.250% Senior Notes due 2025. The offering is targeted at qualified institutional buyers and non-U.S. persons, with the notes being unsecured senior obligations guaranteed by certain domestic subsidiaries.
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Vail Resorts reported ski season metrics for the 2023/2024 season-to-date period, showing a 7.8% decrease in total skier visits but a 3.2% increase in total lift ticket revenue. Ski school revenue was up by 7.0%, dining revenue by 2.4%, while retail/rental revenue decreased by 7.1%. CEO Kirsten Lynch highlighted the stability from the season pass program and investments. Late season results improved, but the outlook for fiscal 2024 is expected to finish at the low end of the Resort Reported EBITDA guidance range due to performance at Whistler Blackcomb. Spring pass sales for the 2024/2025 season saw a modest decline in pass product units and growth in sales dollars.
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Vail Resorts, Inc. appoints Courtney Goldstein as executive vice president and CMO, bringing over 20 years of experience from Comcast and American Express. Goldstein will lead the growth of the Epic Pass subscription model, launch My Epic Gear, and enhance guest experience through digital technology.
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Vail Resorts introduces My Epic Gear membership program for the 2024/25 winter season, offering skiers and riders access to over 60 ski and snowboard models from top brands with free delivery or pick-up. The program aims to revolutionize gear ownership and rental, providing more choice, lower cost, and convenience. Fast Company recognizes Vail Resorts as one of the World's Most Innovative Companies for this initiative.
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FAQ

What does Vail Resorts, Inc. specialize in?

Vail Resorts specializes in luxury, destination-based travel at iconic mountain resort locations. They operate through three main segments: Mountain, Lodging, and Real Estate.

What are the core segments of Vail Resorts?

The core segments include Mountain (ski resorts), Lodging (hotels and condos), and Real Estate (property development and leasing).

Where can I find more information about Vail Resorts?

More information can be found on their official website at www.VailResorts.com.

What recent achievements has Vail Resorts accomplished?

Vail Resorts has been named one of the world's 50 most innovative companies by Fast Company and has launched significant projects like the My Epic App and My Epic Gear.

How is Vail Resorts performing financially?

Despite challenging conditions, Vail Resorts reported an 8% increase in Resort Reported EBITDA in the second quarter of fiscal 2024, with a strong balance sheet including approximately $1.4 billion in cash and revolver availability.

What are the current projects of Vail Resorts?

Current projects include launching Epic Passes for the 2024/25 season, lift upgrades, and investing in innovative technologies to enhance guest experiences.

What is the mission of Vail Resorts?

Vail Resorts' mission is to create the experience of a lifetime for their employees and guests by continuously investing in team development, infrastructure, and training programs.

Which resorts are included in Vail Resorts' network?

The network includes Vail Mountain, Whistler Blackcomb, Park City Mountain, Breckenridge, Stowe, and 32 additional resorts across North America, Andermatt-Sedrun in Switzerland, and several in Australia.

How does Vail Resorts support sustainability?

Vail Resorts has committed to achieving a zero net operating footprint by 2030, along with supporting employees and communities while broadening engagement in winter sports.

What are the benefits of the Epic Pass?

The Epic Pass offers unlimited, unrestricted access to the best skiing and riding around the world, including various benefits like Buddy Tickets and Ski with a Friend Tickets.

Vail Resorts, Inc.

NYSE:MTN

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