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Vail Resorts reports news on a global mountain resort network that includes destination and regional ski areas in North America, Switzerland and Australia. Recurring updates cover Epic Pass products, season pass sales, skier visits, lift revenue, ski school, dining, retail and rental activity, and weather-related effects on resort operations.
The company also announces financial results and guidance, summer and winter resort operations, food and beverage offerings, rental technology initiatives such as My Epic Gear, and lodging and hospitality activity tied to RockResorts, vacation rentals, condominiums and the Grand Teton Lodge Company.
Vail Resorts, Inc. (NYSE: MTN) has announced the acquisition of Seven Springs Mountain Resort, Hidden Valley Resort, and Laurel Mountain Ski Area for approximately $125 million. This strategic purchase aims to enhance Vail Resorts' presence in the region, targeting key markets such as Pittsburgh and Washington, D.C. The acquisition is expected to generate incremental annual EBITDA exceeding $15 million by the fiscal year ending July 31, 2023, alongside an estimated increase of $3 million in annual ongoing capital expenditures. The transaction is projected to close this winter.
Vail Resorts announced the final opportunity to purchase its Epic Pass for the 2021-22 ski season, which ends at 11:59 p.m. MT on December 5. The Epic Pass is offered at a 20 percent discount, now priced at $879. To enhance the experience for Pass Holders, lift ticket sales will be limited during peak holiday periods. The company is implementing data-driven strategies to improve operational efficiency and guest experience, which includes new lift plans and Epic Mountain Rewards that provide discounts on various services at its resorts.
Vail Resorts announces its annual Cyber Sale, offering up to 40% off midweek stays from Nov. 23 to Nov. 30 throughout the ski season. Epic Pass holders get exclusive early access and an extra 20% off starting Nov. 19. Lift ticket sales will be limited during key holiday periods to enhance the experience for pass holders, encouraging advance purchase. The sale features discounted lodging at various resorts across North America, including Vail, Beaver Creek, and Breckenridge, with rates starting as low as $139 per night.
Vail Resorts, Inc. (NYSE: MTN) announced it will release its fiscal first quarter 2022 financial results on December 9, 2021, after market close. A conference call will follow at 5:00 PM ET where executives will review the results. Stakeholders can access the call via the company's Investor Relations section on their website. A replay will be available within two hours after the call concludes, lasting until December 23, 2021. Vail Resorts operates 37 mountain resorts and regional ski areas, making it a leading operator in the global mountain resort industry.
The Luxury Collection Hotels & Resorts has opened The Hythe, a new luxury resort in Vail, Colorado, after a $40 million transformation. This marks Marriott's only Luxury Collection alpine resort in North America. The resort features 344 rooms, four dining venues, and a strong focus on alpine experiences. Guests can enjoy unique culinary offerings and wellness services at the Well & Being Spa. The venue also includes extensive meeting spaces and personalized service for events. Adjacent to Vail Mountain, the resort positions itself as a prime destination for both leisure and business travelers.
Vail Resorts has announced several operational enhancements for the 2021-22 winter season aimed at improving guest experiences, especially for pass holders. Key initiatives include limiting lift ticket sales during peak holiday periods and a new operating plan to increase lift loading efficiency. The company is also launching a new EpicMix app feature that forecasts lift line wait times. Additionally, Vail is investing in new lifts and terrain expansions across five resorts, representing a $320 million capital investment aimed at significantly enhancing the guest experience.
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Vail Resorts, the leading mountain resort operator in North America, announces its Winter Getaway Sale with lodging rates starting at $99 per night for bookings from Oct. 11 to Oct. 14. Epic Pass holders can access the sale early, receiving an additional 20% discount on already reduced rates. The sale features discounts on lodging at various resorts across the U.S. and Canada throughout the ski season. Vail Resorts promotes flexible booking and enhanced safety protocols for guests amidst ongoing public health measures.
Vail Resorts and Toyota have formed a multi-year strategic partnership affecting 33 mountain resorts in the U.S. This collaboration aims to enhance guest experiences through various initiatives, including Toyota vehicles for resort operations and new terrain features. Guests can expect innovative activations like the Toyota Banked Slalom course and complimentary valet services. Both companies emphasize safety, sustainability, and community impact, committing to carbon neutrality and contributing to local communities through Vail's EpicPromise platform, which donated $18.3 million during the 2019/20 season.
Vail Resorts (NYSE: MTN) has announced a significant capital investment of $315 million to $325 million for the 2022-23 ski season, marking its largest single-year commitment to enhancing the guest experience. This plan includes the installation of 19 new chairlifts, comprising 12 high-speed lifts and a new 8-person gondola across 14 resorts. The initiative aims to reduce wait times, increase uphill capacity, and improve access to ski terrains, contributing to an overall investment of approximately $2.2 billion in a 15-year period for guest experience upgrades.