Vail Resorts, Inc. (NYSE: MTN) announced yesterday that it has entered into an agreement to acquire Crans-Montana Mountain Resort in Switzerland from CPI Property Group. Crans-Montana Mountain Resort spans over 1,400 meters (approximately 4,593 ft) of skiable vertical terrain, and 140 kilometers (approximately 87 mi) of trails.
Net income attributable to Vail Resorts, Inc. was $325.0 million for the third fiscal quarter of 2023 compared to net income attributable to Vail Resorts, Inc. of $372.6 million in the same period in the prior year.
Located at the base of Keystone's world-class ski slopes. Kindred Resort is a luxury ski-in, ski-out mixed-use development that broke ground in the fall of 2022 and is expected to open in 2025.
Vail Resorts, Inc. (NYSE: MTN) today announced the appointment of Executive Vice President and Chief Operating Officer Bill Rock as President of the company's Mountain Division, effective May 1, 2023, and announced that current President James O'Donnell will no longer be with the company, effective March 3, 2023.
Net loss attributable to Vail Resorts, Inc. was $137.0 million for the first quarter of fiscal 2023 compared to a net loss attributable to Vail Resorts, Inc. of $139.3 million in the same period in the prior year.
Korch originally joined Vail Resorts in 2010 and held various leadership roles, including Vice President of Corporate & Mountain Finance, responsible for supporting the company's mountain division during a rapid expansion of its resort network.
Vail Resorts acquired a 55-percent ownership of the resort operations from Andermatt Swiss Alps AG, which retains a 40-percent ownership stake, with a group of existing shareholders comprising the remaining 5-percent ownership.
Vail Resorts, Inc. (NYSE: MTN) today announced that Executive Vice President and Chief Financial Officer Michael Barkin will be stepping down after nearly a decade in role to take time to pursue personal opportunities.
Net income attributable to Vail Resorts, Inc. was $372.6 million for the third fiscal quarter of 2022 compared to net income attributable to Vail Resorts, Inc. of $274.6 million in the same period in the prior year. The increase is primarily due to the greater impact of COVID-19 and related limitations and restrictions on results in the prior year.
Vail Resorts, Inc. (NYSE: MTN) announced today that it has entered into an agreement to purchase a majority stake in Andermatt-Sedrun Sport AG from Andermatt Swiss Alps AG, marking the company's first strategic investment in, and opportunity to operate, a ski resort in Europe.