Vail Resorts Reports 50% Revenue Decline, $614M In The Bank

Vail Resorts Reports 50% Revenue Decline, $614M In The Bank

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Vail Resorts Reports 50% Revenue Decline, $614M In The Bank

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Vail Resorts held its Q1 Earnings call last night, and the numbers were flowing like champagne at an over-priced après ski party…

Vail is clearly not immune to the effects of COVID-19, and reported a 50% decline in revenue compared to this time last year.

Despite a decrease in lodging, food, and entertainment- Vail sold 1.4 million Epic Passes, a 20% increase. Vail CEO Rob Katz rejoiced in the fact that skier interest appears to be higher than ever.

Vail Resorts CEO Rob Katz says 'We are part of the problem' regarding death  of George Floyd - Real Vail

Vail Resorts CEO Rob Katz

Katz also disclosed that Vail Resorts still has $614M in cash in the bank… holy cow. Despite this absurd amount of financial security, investors appear to be dumping Vail stock at a fairly high rate. Vail’s stock traded as MTN, is down 4% since the markets opened today.

Yikes, not a great week for Vail Resorts.

The company is also listed as the defendant in what could turn out to be a class-action lawsuit for violating labor laws. The company is being sued for $100M.

About the Villages | Vail Ski Resort

The full transcript of the earnings call can be found here.

What do you think about this news from Vail Resorts?

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