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 (NYSE: MTN) reported a 67.2% decline in net income for fiscal 2020 to $98.8 million, largely due to COVID-19 impacts. The resort's EBITDA dropped 28.8% to $503.3 million, with revenues declining 13.6% to $1.96 billion. Season pass sales showed 18% growth in units sold, but revenue decreased 4%. As of August 31, 2020, Vail maintained a robust liquidity position with $360 million in cash and $593 million in credit availability. COVID-19 continues to pose challenges, and full-year guidance for fiscal 2021 remains suspended.
Vail Resorts, Inc. (NYSE: MTN) will release its financial results for the fiscal year ending July 31, 2020, after market close on September 24, 2020. A conference call will be held at 5:00 p.m. eastern time the same day, where executives will discuss the results. The call will be available online and through telephone for interested participants. A replay will be accessible two hours post-call until October 8, 2020. Vail Resorts operates 37 premier mountain resorts and is a leader in the global mountain resort industry.