Vail Resorts Inc
NYSE:MTN

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Vail Resorts Inc
NYSE:MTN
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Price: 136.64 USD 1.7% Market Closed
Market Cap: 4.9B USD

Vail Resorts Inc
Investor Relations

Vail Resorts Inc., rooted in the heart of ski country and spanning some of the most iconic alpine terrain in North America, operates as a premier mountain resort company. With a portfolio that includes a constellation of world-class ski destinations, Vail Resorts transforms these rugged natural landscapes into thriving hubs of seasonal activities and luxury accommodations. The company’s revenue streams are as varied as its terrains, predominantly fueled by a combination of lift ticket sales, ski school services, and mountain dining experiences, all designed to enhance the guests' outdoor adventures. Furthermore, Vail Resorts strategically leverages its Epic Pass program, which offers skiers and snowboarders access to its broad network of resorts, driving customer loyalty and providing consistent revenue flows regardless of seasonal fluctuations in local weather conditions.

Beyond the slopes, Vail Resorts complements its winter offerings with a robust portfolio of ancillary services and lodging operations. The company's real estate developments and hotel properties, often situated within or near its resort locations, serve dual purposes: accommodating the influx of tourists and generating additional profit margins from real estate sales and lodging operations. Moreover, Vail Resorts capitalizes on off-season opportunities, transforming its winter wonderland into summer destinations featuring hiking, biking, and other outdoor activities, ensuring a steady income stream year-round. This strategic diversification not only stabilizes earnings but also strengthens Vail Resorts' positioning as a leading player in the leisure and tourism industry.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
Dec 10, 2025
AI Summary
Q1 2026

In-line Results: First quarter performance met expectations, with resort net revenue up 4% year-over-year and flat resort EBITDA.

Pass Sales Update: North American pass product units were down 2%, but sales dollars rose 3%; sequential improvement post-Labor Day driven by new marketing strategies.

Guidance Reiterated: Management maintained its fiscal 2026 guidance for net income and resort EBITDA, citing early-season weather uncertainty but improved pass sales trends.

New Ticket Initiatives: Introduced Epic Friends tickets and a 30% discounted advance lift ticket offering to boost visitation and convert more guests to season passes.

Dynamic Pricing & Marketing: Increased paid media and dynamic pricing at select resorts aim to drive both off-peak and overall visitation.

Capital Investments: Announced $234–239 million 2026 capital plan focused on guest experience upgrades, technology, dining, and safety systems.

Strong Balance Sheet: Liquidity at $1.5 billion, net debt at 3.0x trailing EBITDA, and continued share repurchases and dividend.

Key Financials
Committed Pass Holders
2.3 million guests
Pass Revenue
$1 billion
Percent of Skier Visits (Pass Holders)
74%
Liquidity
$1.5 billion
Net Debt to EBITDA
3.0x trailing 12 months EBITDA
Dividend
$2.22 per share
Share Repurchases
200,000 shares for $25 million
Core Capital Investments (2026)
$215 million to $220 million
Total Capital Plan (2026)
$234 million to $239 million
Other Earnings Calls

Management

Mr. Robert A. Katz
Executive Chairman
No Bio Available
Ms. Kirsten A. Lynch
CEO & Director
No Bio Available
Ms. Angela A. Korch
Executive VP & CFO
No Bio Available
Mr. William C. Rock
President of Mountain Division
No Bio Available
Mr. Gregory Jon Sullivan
Executive Vice President of Hospitality, Retail & Rental
No Bio Available
Mr. Nathan Mark Gronberg
VP, Controller & Chief Accounting Officer
No Bio Available
Mr. Chris Smith
Senior VP & Chief Information Officer
No Bio Available
Ms. Julie A. DeCecco
Executive VP, General Counsel & Chief Public Affairs Officer
No Bio Available
Ms. Courtney K. Goldstein
Chief Marketing Officer & Executive VP
No Bio Available
Ms. Lynanne J. Kunkel
Chief Human Resources Officer & Chief Transformation Officer
No Bio Available

Contacts

Address
COLORADO
Broomfield
390 Interlocken Cres Ste 1000
Contacts
+13034041800.0
www.vailresorts.com