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 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) reported a net income of $127.9 million for fiscal 2021, a 29.4% increase from fiscal 2020, despite COVID-19 impacts. Resort EBITDA was $544.7 million, up 8.2%. Season pass sales for 2021/2022 surged 42% in units and 17% in dollars compared to the previous year. The company issued a fiscal 2022 guidance with EBITDA expected between $785 million and $835 million but anticipates a net loss of $156 million to $136 million in Q1 due to ongoing COVID-19 issues. A $315-$325 million capital investment plan for improvements was also announced, alongside a cash dividend of $0.88 payable in October.
Vail Resorts, Inc. (NYSE: MTN) will release its financial results for the fiscal year ending July 31, 2021, post-market on September 23, 2021. A conference call hosted by executives is set for 5:00 p.m. ET that same day to discuss the results. Investors can access the call via the company's website or by telephone. A replay will be available two hours after the call until October 7, 2021. Vail Resorts operates 37 mountain resorts and regional ski areas across North America, Australia, and Europe.
Vail Resorts announces its 2021/22 ski season, beginning with Keystone opening in October. With a focus on safety, the company has invested in a new snowmaking system to extend the ski season. The Epic Pass is being sold at a 20% discount for Labor Day, now priced at $783, down from $979. The company lists opening dates for 34 resorts, emphasizing new terrain and lift enhancements. Vail Resorts continues to prioritize health and safety protocols amidst COVID-19.
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.