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) news covers a broad range of topics tied to its network of destination and close-to-home ski resorts, lodging properties, and related real estate. Company announcements frequently highlight performance metrics for its ski season, capital investment plans, and strategic initiatives connected to its Mountain, Lodging, and Real Estate segments.
Investors and followers of MTN can expect news about season-to-date skier visits, lift revenue trends, ski school and dining performance, and retail and rental activity at the company’s North American resorts and ski areas. Vail Resorts regularly reports these metrics for key periods of the ski season and discusses factors such as weather conditions and geographic diversification across its resort network.
Corporate updates also include earnings releases, fiscal guidance, and details on capital plans for resort-specific projects, technology investments, and efficiency and sustainability initiatives. These may cover lift upgrades, dining facility remodels, lodging renovations, and technology enhancements such as improvements to the My Epic app and digital tools for Ski & Ride School operations.
News about Vail Resorts often features product and marketing developments related to its Epic Pass and Epic Day Pass offerings, including new benefits such as Epic Friend Tickets and advance-purchase lift ticket discounts. The company also issues releases on partnerships, guest experience enhancements, and food and beverage concepts across resorts like Vail Mountain, Breckenridge, Beaver Creek, Keystone, and others.
Governance and leadership items appear in MTN news as well, including board transitions, executive appointments such as the Chief Revenue Officer role, and information related to annual meetings. For a comprehensive view of Vail Resorts’ evolving strategy, guest-focused initiatives, and financial performance, readers can follow this news feed as new company disclosures and press releases are issued.
Vail Resorts (NYSE: MTN) announced Kirsten Lynch as the new CEO, effective November 1, 2021, succeeding Rob Katz, who will become executive chairperson. Lynch has been with Vail since 2011 and is credited with transforming its marketing strategy. Ryan Bennett will take over as CMO. Katz highlighted Lynch's leadership and vision for the company's growth and diversity initiatives. This transition follows a challenging period for Vail Resorts, marking a pivotal moment in its leadership and strategic direction.
Vail Resorts has announced a 20% price reduction on its entire lineup of 2021/22 Epic Pass products, including Epic Pass, Epic Local Pass, and Epic Day Pass. This offer ends on Labor Day, September 6, 2021. The Epic Pass grants unlimited access to 34 North American resorts, including Vail and Breckenridge, and aims to enhance customer access during the winter season. The company is also investing $120 million into capital improvements across its resorts, boosting the on-mountain experience for skiers and riders.
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Vail Resorts, Inc. (NYSE: MTN) reported a net income of $274.6 million for Q3 FY2021, an 80% increase from last year, driven by full operations post-COVID restrictions. Resort EBITDA grew 51.9% to $462.2 million. The company anticipates FY2021 EBITDA of $530-570 million, contingent on no further pandemic-related disruptions. Season pass sales for the 2021/2022 season increased by 50% in units versus 2019, boosted by a 20% price reduction. Despite this, Whistler Blackcomb's visitation fell 60% compared to 2019 due to international travel bans.
Vail Resorts, a leading mountain resort operator, has announced a 20% reduction in pricing for the 2021/22 Epic Pass. Customers purchasing by May 31 can secure a pass with a $49 down payment and receive 10 Buddy Tickets for discounted lift tickets. The price reset reflects levels last seen in the 2015/16 season, offering access to over 80 resorts. Vail Resorts is set to invest $120 million this year in enhancements, including new lifts and terrain expansions.
Vail Resorts, Inc. (NYSE: MTN) will release its financial results for the fiscal third quarter 2021, ending April 30, 2021, after market close on June 7, 2021. A conference call is scheduled for 5:00 p.m. eastern time the same day, where executives will discuss the results. The call can be accessed through the company's website, with a replay available until June 21, 2021.
Vail Resorts operates 37 world-class mountain resorts and is a leading global mountain resort operator.
Vail Resorts (NYSE: MTN) updated its financial guidance for the nine months ending April 30, 2021, projecting net income between $258 million and $280 million, and Resort Reported EBITDA between $636 million and $650 million. The increase in guidance is primarily due to stronger performance in March and April, particularly at its Colorado and Utah resorts. However, Whistler Blackcomb's performance remains adversely affected by COVID-19 restrictions. The company reports strong early season pass sales and anticipates further details in the third quarter earnings release scheduled for June 2021.
Vail Resorts, Inc. (NYSE: MTN) announced significant leadership changes on April 12, 2021. Patricia Campbell, president of the mountain division, will transition to a senior advisor role, focusing on strategic projects and diversity initiatives. James O'Donnell will succeed her as president, bringing 20 years of experience at Vail Resorts. Greg Sullivan will take over as senior vice president overseeing retail and hospitality, and Bill Rock has been promoted to executive vice president of mountain operations. These changes take effect on June 7, 2021, as part of a planned leadership succession to enhance operational excellence.
Vail Resorts has announced a 20% price reduction on its Epic Pass products as part of its Epic for Everyone initiative. All pass types, including the Epic Local Pass and Epic Day Pass, have seen significant price cuts, making skiing more accessible. The Epic Local Pass is now $583 (down from $729), and the full Epic Pass is $783 (down from $979). The company anticipates that this reduction will drive increased engagement and revenue, especially as more new customers opt for passes over traditional lift tickets.
Vail Resorts, Inc. (MTN) reported a net income of $147.8 million for Q2 FY2021, down 28.4% due to COVID-19 impacts. Resort EBITDA decreased to $276.1 million from $378.3 million the previous year, amid capacity restrictions and challenging conditions. Season-to-date skier visits fell 8.2%, with lift revenue down 8.9%. Although local visitation improved, ongoing restrictions severely impacted ski school and dining revenues. The company maintains strong liquidity with $1.4 billion in cash and expects Q3 EBITDA between $560 million and $600 million assuming stable demand and regulations.
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