VANCOUVER There is confusion, complaints about lack of communication and some inconsistency over how Vail Resorts is processing refunds on pre-paid passes after Whistler Blackcomb was forced to close because of the pandemic. Last year, Vail issued credits, but this year the resort put a claims company in charge of handling refunds and that has left some customers out in the cold. “I don’t have a lot of ski days left in my legs so I want to take advantage of them,” said Joe Bell of North Vancouver. Bell has been a long time pass holder at Whistler Blackcomb but this past year he purchased a five-day Edge Card for $500 and had three days left on the card when the resort was forced to shut down March 30.
(1) The provision for income taxes may be impacted by excess tax benefits primarily resulting from vesting and exercises of equity awards. Our estimated provision for income taxes does not include the impact, if any, of unknown future exercises of employee equity awards, which could have a material impact given that a significant portion of our awards are in-the-money.
(2) Our guidance includes certain estimated changes in the fair value of the contingent consideration based on the passage of time, updated financial projections and changes in market factors used to derive the estimate. Separately, the intercompany loan associated with the Whistler Blackcomb transaction requires foreign currency remeasurement to Canadian dollars, the functional currency of Whistler Blackcomb. Our guidance excludes any forward looking change related to foreign currency gains or losses on the intercompany loans, which such change may be material.
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An Epic Pass is pictured Nov. 17 with Vail Mountain in the background. In April 2020, Vail Resorts announced Epic Coverage, which was meant to refund passholders if resorts closed due to COVID-19 or customers had certain personal events that prevented skiing. Some passholders say they have not been issued refunds.
Photo by John LaConte / Vail Daily
As the ski season comes to a close, some Epic Pass holders are complaining that they still haven’t received refunds that they’re due.
Last spring, Vail Resorts announced that it would provide free Epic Coverage on its 2020-21 passes, providing “cash refunds to passholders for certain resort closures, including for events like COVID-19, as well as refunds for eligible personal events like job loss, illness and more.”
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