News Roundup: Merry Christmas

News Roundup: Vail Numbers

  • Vail Resorts has sold 850,000 season passes as of September 18th, an 18 percent increase compared to last year at this time.
  • CEO Rob Katz assures skiers reservations should be widely available for most resorts on most days.
  • Vail lost $153.6 million in the quarter ended July 31st compared with an $89.5 million loss in the same period last year.
  • For the full fiscal year 2020, Vail reported a net income of $98.8 million, a decrease of 67.2 percent.
  • The company also recently cut 410 jobs.
  • Regarding capital projects and the seven lift projects Vail postponed this year, Katz said on the conference call:

“We are of course going to be monitoring the season closely before we come out with any plan for calendar year 2021. We’ll make sure we’re incorporating what happened this year. We will likely still be in a conservative approach though hopefully not as conservative as last year because the environment around Covid and travel has all improved. We will definitely be prioritizing projects that we think will have a significant impact on the guest experience and certainly some of the projects that we deferred from last year will be top of the list.”