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Vermont Business Magazine Vail Resorts, Inc (NYSE: MTN), the owner of Mount Snow, Okemo and Stowe Mountain resorts in Vermont, has reported results for the second quarter of fiscal 2021 ended January 31, 2021 and provided the Company s ski season-to-date metrics through March 7, 2021, both of which were negatively impacted by COVID-19 and related limitations and restrictions. Revenues across the board were down, especially in the retail/rental segment, but overall skier visits and lift revenue overall down less than 9 percent. Separate resort information was not available.
Vail still has $1.4 billion of cash on hand. Total net revenue decreased $240.0 million, or 26.0%, to $684.6 million for the three months ended January 31, 2021, as compared to the same period in the prior year. Investment in Okemo will include upgrading the Quantum lift from a four-person to a six-person high speed chairlift and relocating the existing four-person Quant
Vail Resorts Reports Fiscal 2021 Second Quarter Results and Provides Outlook for Fiscal 2021 Third Quarter
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BROOMFIELD, Colo., March 11, 2021 /PRNewswire/ Vail Resorts, Inc. (NYSE: MTN) today reported results for the second quarter of fiscal 2021 ended January 31, 2021 and provided the Company s ski season-to-date metrics through March 7, 2021, both of which were negatively impacted by COVID-19 and related limitations and restrictions.
Highlights
Net income attributable to Vail Resorts, Inc. was $147.8 million for the second fiscal quarter of 2021, a decrease of 28.4% compared to the second fiscal quarter of 2020, primarily as a result of the negative impacts of COVID-19.
Vail Daily
Park City Mountain Resort owner Vail Resorts reported a net loss of $153.8 million for the first quarter of fiscal year 2021, the company reported Thursday.
Park Record file photo
The COVID-19 pandemic has taken a toll on Vail Resorts’ bottom line.
On Thursday, the global ski resort giant reported a net loss of $153.8 million for the first quarter of fiscal 2021 that ended Oct. 31, 2020, a decrease of 44.4% compared to the first quarter of 2020.
In its release, Vail Resorts stated its business has been challenged by COVID-19 related limitations, restrictions and closures, and provided season pass sales results.
Vail Resorts reported an EBITDA loss of $94.8 million for the first quarter, compared to a loss of $76.7 million for the first quarter of 2020. In its release, the company said its COVID-19 losses were partially offset by disciplined cost management and $15.4 million of lift revenue recognized in the first quarter of 2021 associated with the expiration of th
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