Broomfield, Colorado — The opponents of Vail Resorts have been talking up a storm this summer.
Billionaire Matthew Prince continues to actively voice his desire to purchase Park City Mountain Resort. Meanwhile, Oasis Management has acquired more equity in Vail Resorts and pondered whether to wage a proxy battle over the company. After Semafor reported that Vail was preparing for this potential scenario, Rob Katz went on his podcast to explain why their model works best. The latest news indicates Oasis is moving forward with its push to influence Vail Resorts’ future.
Last week, Oasis Management announced a proposal to add three board members. The minority investor’s proposed additions are Robert Chapek of Florida, Picabo Street of Park City, Utah, M. Ashton Hudson of Florida, and Bryce Roberts of Park City. Bob Chapek is the former CEO of Disney who had a not-very-ideal tenure at the top of their castle. Picabo Street is a downhill skiing legend who won four Olympic medals in the 1990s. Bryce Roberts of Park City is a venture capitalist, while M. Ashton Hudson is a financier from Florida.
“I’ve spent my life skiing, winning Olympic medals, and giving back to the sport,” said Picabo Street. “Over the years, I’ve learned that real success isn’t just about gold medals — it’s about passing that love on…
Whether visitors are strapping on boots for the very first time or chasing powder on a cold morning, I want them to feel the same spark I felt as a kid. It’s time to make the most of these mountains that we all love so much.”
Reportedly unaffiliated with Oasis, Gregory Syvert Meyer from Florida also nominated himself for the board. Classic Florida man behavior.
Their goal is to reshape the company’s strategy. Vail Resorts has struggled financially in recent years because of below-average winters and declining pass sales. Their brand perception has also taken a hit because of crowding issues, a high-profile ski patrol strike, and complaints about the quality of the experience. Lawsuits from all over the place and public disses from Noah Kahan probably haven’t helped that reputation.
In a statement, Vail Resorts said that it “prioritizes consistent engagement with shareholders and welcomes ongoing dialogue around the shared interest of continuing to drive long-term shareholder value. As previously announced, the company has an active, fulsome search underway for a new independent director, which it expects to complete in early 2027.”
Matthew Prince unsurprisingly reacted to these developments. He posted a GIF of Hannibal from The A-Team saying, “I love it when a plan comes together.” The news was also shared by The Park Record, a Park City newspaper which is owned by Prince.
Vail Resorts will try to quell investor fears with its fourth-quarter results that will be released later this month. The shareholders’ call will be interesting, to say the least.
Image/Video Credits: Benjamin R., SRG Skiing, Vail Resorts
