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| logo = Vail Resorts (logo).svg | logo = Vail Resorts (logo).svg
| type = ] | type = ]
| traded_as = {{ubl|class=nowrap|{{NYSE|MTN}}|] component}} | traded_as = {{ubl|class=nowrap|{{NYSE|MTN}}|] component
}}
| founded = {{Start date and age|1997}} | founded = {{Start date and age|1997}}
| location = {{nowrap|], U.S.}} | hq_location = {{nowrap|], U.S.}}
| key_people = {{ubl|Kirsten Lynch (])|Robert Katz (])}} | key_people = {{ubl|Kirsten Lynch (])|Robert Katz (])}}
| revenue = {{decrease}} {{US$|1.91 billion|link=yes}} (2021) | revenue = {{decrease}} {{US$|2.89 billion|link=yes}} (2024)
| operating_income = {{increase}} US$261 million (2021) | operating_income = {{decrease}} US$491 million (2024)
| net_income = {{increase}} US$128 million (2021) | net_income = {{decrease}} US$230 million (2024)
| assets = {{increase}} US$6.25 billion (2021) | assets = {{decrease}} US$5.70 billion (2024)
| equity = {{increase}} US$1.83 billion (2021) | equity = {{decrease}} US$1.04 billion (2024)
| num_employees = 6,100 (July 2021) | num_employees = 7,600 (2024)
| website = {{URL|vailresorts.com}} | website = {{URL|vailresorts.com}}
| footnotes = <ref name=10K>{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/812011/000081201121000069/mtn-20210731.htm |title=Vail Resorts, Inc. 2021 Annual Report (Form 10-K) |date=23 September 2021 |publisher=]}}</ref> | footnotes = <ref name=10K>{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/812011/000081201124000091/mtn-20240731.htm |title=Vail Resorts, Inc. FY 2024 Annual Report (Form 10-K) |date=26 September 2024 |publisher=]}}</ref>
}} }}


'''Vail Resorts, Inc.''' is an American ] company headquartered in ]. The company is divided into three divisions. The mountain segment owns and operates 40 mountain resorts in four countries, Vail Resorts Hospitality owns or manages hotels, lodging, condominiums and golf courses, and the Vail Resorts Development Company oversees property development and real estate holdings. '''Vail Resorts, Inc.''' is an American ] company headquartered in ]. The company is divided into three divisions. The mountain segment owns and operates 42 mountain resorts in four countries. Vail Resorts Hospitality owns or manages hotels, lodging, condominiums, and golf courses, and the Vail Resorts Development Company oversees property development and real estate holdings.


==History== ==History==
Vail Resorts was founded as Vail Associates Ltd. by ] and Earl Eaton in the early 1960s. Eaton, a lifelong resident, led Siebert (a former WWII ] ski trooper) to the area in March 1957. They both became ski patrol guides at ], when they shared their dream of finding the "next great ski mountain." Siebert set off to secure financing and Eaton engineered the early lifts. Their Vail ski resort opened in 1962.<ref>{{cite news|author=Lauren Moran|title=Vail visionaries|date=March 19, 2011|publisher=]|url=https://www.vaildaily.com/news/vail-visionaries-2/|work=]|access-date=June 16, 2018}}</ref> ] purchased Vail Associates in 1985.<ref>{{cite news|author=Randy Wyrick|title=1985: The year the deals got done|publisher=]|url=https://www.vaildaily.com/news/1985-the-year-the-deals-got-done/|work=Vail Daily|date=May 20, 2011|access-date=June 16, 2018}}</ref> Vail Associates changed its name to Vail Resorts and went public in 1997<ref>{{cite web|url=http://www.getfilings.com/o0000927356-97-001483.html|title=Vail Resorts Inc. - 10-K Annual Report|date=September 30, 1997|website=Getfilings.com|access-date=June 16, 2018}}</ref> after Gillett Holdings went bankrupt.<ref>{{cite news|title=Gillett Bankruptcy Filing|date=August 18, 1992|agency=]|url=https://www.nytimes.com/1992/08/18/business/gillett-bankruptcy-filing.html|work=]|access-date=June 16, 2018}}</ref> ], headed by ], bought the company out of bankruptcy and took Vail Resorts public, controlling Vail Resorts until 2003, when Apollo divested itself of controlling interest. The skating rink at ], was named the Black Family Skating Rink after Leon Black.{{cn|date=January 2022}} Vail Resorts was founded as Vail Associates Ltd. by ] and Earl Eaton in the early 1960s. Eaton, a lifelong resident, led Siebert (a former WWII ] ski trooper) to the area in March 1957. They both became ski patrol guides at ], when they shared their dream of finding the "next great ski mountain." Siebert set off to secure financing, and Eaton engineered the early lifts. Their Vail ski resort opened in 1962.<ref>{{cite news|author=Lauren Moran|title=Vail visionaries|date=March 19, 2011|publisher=]|url=https://www.vaildaily.com/news/vail-visionaries-2/|work=]|access-date=June 16, 2018}}</ref> ] purchased Vail Associates in 1985.<ref>{{cite news|author=Randy Wyrick|title=1985: The year the deals got done|publisher=]|url=https://www.vaildaily.com/news/1985-the-year-the-deals-got-done/|work=Vail Daily|date=May 20, 2011|access-date=June 16, 2018}}</ref> Vail Associates changed its name to Vail Resorts and went public in 1997<ref>{{cite web|url=http://www.getfilings.com/o0000927356-97-001483.html|title=Vail Resorts Inc. - 10-K Annual Report|date=September 30, 1997|website=Getfilings.com|access-date=June 16, 2018}}</ref> after Gillett Holdings went bankrupt.<ref>{{cite news|title=Gillett Bankruptcy Filing|date=August 18, 1992|agency=]|url=https://www.nytimes.com/1992/08/18/business/gillett-bankruptcy-filing.html|work=]|access-date=June 16, 2018}}</ref> ], headed by ], bought the company out of bankruptcy and took Vail Resorts public, controlling Vail Resorts until 2003, when Apollo divested itself of controlling interest. The skating rink at ], was named the Black Family Skating Rink after Leon Black.{{cn|date=January 2022}}

⚫ Rob Katz, a former executive at Apollo, ran Vail Resorts as CEO until November 2021, when he was appointed executive chairperson of the board. Kirsten Lynch, the company's former chief marketing officer, then took over as CEO.<ref>{{Cite web |last=LaConte |first=John |title=Kirsten Lynch begins new role as Vail Resorts CEO |url=https://www.aspentimes.com/news/kirsten-lynch-begins-new-role-as-vail-resorts-ceo/ |access-date=2022-03-15 |website=www.aspentimes.com |date=2 November 2021 |language=en-US}}</ref>


In June 2024, Vail Resorts reported lower-than-expected revenue during the February-April quarter due to a significantly warmer-than-anticipated ] resorts, with snowfall 28% lower than average. The company generated $1.28 billion in revenue during the quarter despite the stabilizing effect of its Epic Pass program, which allows customers to purchase a ] for its North American resorts at a significant upfront cost. However, Vail's stock price has declined by 50% since its October 2021 peak of $360. While this past winter was one of the warmest on record for the company, concerns exist that future winters may even be warmer.<ref>{{cite news |last=Badenhausen |first=Kurt |url=https://www.sportico.com/business/commerce/2024/vail-resorts-q3-revenue-eps-estimates-stock-1234783265/ |title=VAIL RESORTS MISS Q3 REVENUE, EPS ESTIMATES AS STOCK SINKS |work=] |date=2024-06-06 |accessdate=2024-06-10 }}</ref>
⚫ Rob Katz, a former executive at Apollo, ran Vail Resorts as CEO until November 2021, when he was appointed executive chairperson of the board. Kirsten Lynch, the company's former chief marketing officer, then took over as CEO.<ref>{{Cite web |last=LaConte |first=John |title=Kirsten Lynch begins new role as Vail Resorts CEO |url=https://www.aspentimes.com/news/kirsten-lynch-begins-new-role-as-vail-resorts-ceo/ |access-date=2022-03-15 |website=www.aspentimes.com |language=en-US}}</ref>


==Criticism== ==Criticism==
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==RockResorts== ==RockResorts==
In 2001, Vail Resorts acquired the luxury hotel chain ], which contributed substantially to their brand recognition. RockResorts was named after its original owners, the ]. As of January 2017, the properties include: In 2001, Vail Resorts acquired the luxury hotel chain ], contributing substantially to its brand recognition. RockResorts was named after its original owners, the ]. As of January 2017, the properties include:


{{poemquote| {{poemquote|
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==Subsidiaries and affiliates== ==Subsidiaries and affiliates==
All of the company's retail operations are run by a smaller company, , of which Vail owns 70%. The owners of the other 30% are the Gart Brothers, specifically Tom Gart, Ken Gart and John Gart. The Gart family have been in the sporting goods business for 3 generations and were the former owners of Gart Sports, the large chain of sporting goods stores in the western US. ] was sold by the Gart family in the 1990s and then recently sold again to ], which discontinued the use of the Gart Sports name in 2006. In 2010, Vail completed the buyout of the Specialty Sports Venture brand and is now the 100% owner of all SSV operations. In addition to all of the ski shops in the Vail Resorts portfolio of ski areas, the SSV chain of stores includes Bicycle Village in Denver, Colorado Ski & Golf, Boulder Ski Deals, Aspen Sports, Telluride Sports and Mountain Sports Outlet in Summit County and Glenwood Springs and many others. SSV is reportedly the largest Trek bicycles dealer in the world. All of the company's retail operations are run by a smaller company, , of which Vail owns 70%. The owners of the other 30% are the Gart Brothers, specifically Tom Gart, Ken Gart, and John Gart. The Gart family has been in the sporting goods business for three generations and was the former owner of Gart Sports, a large chain of sporting goods stores in the western US. ] was sold by the Gart family in the 1990s and then recently sold again to ], which discontinued the use of the Gart Sports name in 2006. In 2010, Vail completed the buyout of the Specialty Sports Venture brand and is now the 100% owner of all SSV operations. In addition to all of the ski shops in the Vail Resorts portfolio of ski areas, the SSV chain of stores includes Bicycle Village in Denver, Colorado Ski & Golf, Boulder Ski Deals, Aspen Sports, Telluride Sports, and Mountain Sports Outlet in Summit County and Glenwood Springs and many others. SSV is reportedly the largest Trek bicycle dealer in the world.


Vail Resorts also owns just over 50% of Slifer Smith and Frampton (SSF), the largest real estate brokerage company in the Vail region, controlling over 70% of the real estate transactions in the market. Slifer, Smith and Frampton was called Slifer, Smith and Frampton/Vail Associates Real Estate, but they dropped the "Vail Associates" name in 2003. The founders of SSF are Rod Slifer, a former ski instructor who was recently the mayor of the Town of Vail, Mark Smith, a real estate broker/turned developer who currently also runs East West Partners with Harry Frampton, who was the former President of Vail Associates and currently owns East West Partners. East West Partners has built most of the large building that make up the Beaver Creek Village, including the Marketplace Building, ] and One Beaver Creek. Not to be confused with East West Resorts, a separate property Management Group. Vail Resorts also owns just over 50% of Slifer Smith and Frampton (SSF), the largest real estate brokerage company in the Vail region, controlling over 70% of the real estate transactions in the market. Slifer, Smith, and Frampton were called Slifer, Smith, and Frampton/Vail Associates Real Estate, but they dropped the "Vail Associates" name in 2003. The founders of SSF are Rod Slifer, a former ski instructor who was recently the mayor of the Town of Vail, and Mark Smith, a real estate broker/turned developer who currently also runs East West Partners with Harry Frampton, who was the former President of Vail Associates and currently owns East West Partners. East West Partners has built most of the large buildings that make up the Beaver Creek Village, including the Marketplace Building, ], and One Beaver Creek. This is separate from East West Resorts, a separate property management group.


Vail Resorts Development Company (VRDC) is the wholly owned real estate development company that Vail Resorts uses to develop all of its company-owned real estate, other than the projects that East West Partners develops. VRDC developed Bachelor's Gulch, one of the most upscale, ski-in/ski-out resorts in the business with its own Ritz Carlton and just over 100 slopeside mansions. President ] kept his ski house in the Strawberry Park section of Beaver Creek, which is between Beaver Creek and Bachelor's Gulch. Arrowhead is the third "peak" in the heavily promoted "village to village ski experience" in which you can ski from Beaver Creek to Bachelor's Gulch to Arrowhead and back again. Arrowhead was a separate ski area unrelated to Beaver Creek for years before they were finally bought by Vail Associates in the early 1990s. VRDC also developed "club" division of Vail Resorts, including the Beaver Creek Club, the Arrowhead Alpine Club, and Game Creek Club (in Vail). VRDC also developed Red Sky Ranch in Wolcott (approximate {{convert|10|mi|km}} west of Beaver Creek), which includes two golf courses and many million dollar golf course homes. All of these clubs are now operated by the "Mountain Division" of Vail Resorts. Vail Resorts Development Company (VRDC) is the wholly-owned real estate development company that Vail Resorts uses to develop all of its company-owned real estate, other than the projects East West Partners develops. VRDC developed Bachelor's Gulch, one of the business's most upscale ski-in/ski-out resorts, with its own Ritz Carlton and just over 100 slopeside mansions. President ] kept his ski house between Beaver Creek and Bachelor's Gulch in the Strawberry Park section of Beaver Creek. Arrowhead is the third "peak" in the heavily promoted "village to village ski experience" in which you can ski from Beaver Creek to Bachelor's Gulch to Arrowhead and back again. Arrowhead was a separate ski area unrelated to Beaver Creek for years before Vail Associates finally bought them in the early 1990s. VRDC also developed the "club" division of Vail Resorts, including the Beaver Creek Club, the Arrowhead Alpine Club, and the Game Creek Club (in Vail). VRDC also developed Red Sky Ranch in Wolcott (approximate {{convert|10|mi|km}} west of Beaver Creek), which includes two golf courses and many million dollar golf course homes. These clubs are now operated by the "Mountain Division" of Vail Resorts.


==List of resorts== ==List of resorts==
Vail Resorts operates 41 ski resorts in the United States, Canada, Australia and Switzerland including, notably, the ], ], ], ], and ] ski areas in Colorado, and ], ], and ] on the California-Nevada border. They also acquired the largest ski resort in North America: ], located in British Columbia, Canada. Vail Resorts offers a variety of multi-resort season passes under the Epic Pass program. The Epic Pass also has partnerships that allows access to several other resorts in the US, Canada, Japan, France, Switzerland, Austria, and Italy.<ref>{{cite web|url=https://www.epicpass.com/|title=Epic Season Pass|website=www.epicpass.com|access-date=June 16, 2018}}</ref> Vail Resorts acquired the Grand Teton Lodge Company within the ] in Wyoming in 1999. The GTLC properties include the Jenny Lake Lodge, ], and Colter Bay Village. Vail Resorts operates 42 ski resorts in the United States, Canada, Australia and Switzerland including, notably, the ], ], ], ], and ] ski areas in Colorado, and ], ], and ] on the California-Nevada border. In British Columbia, Canada, they also acquired the largest ski resort in North America: ]. Vail Resorts offers a variety of multi-resort season passes under the Epic Pass program. The Epic Pass also has partnerships that allow access to several other resorts in the US, Canada, Japan, France, Switzerland, Austria, and Italy.<ref>{{cite web|url=https://www.epicpass.com/|title=Epic Season Pass|website=www.epicpass.com|access-date=June 16, 2018}}</ref> Vail Resorts acquired the Grand Teton Lodge Company within the ] in Wyoming in 1999. The GTLC properties include the ], ], and ].
{|class="wikitable sortable" {|class="wikitable sortable"
|- |-
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|] |]
|5 |5
|1965
⚫ |
|2019 September 24 |2019 September 24
|Bought from ] along with 16 other mountains. |Bought from ] along with 16 other mountains.
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| |
|2022 March 28 |2022 March 28
|Vail owns a 55% share of the resort <ref>{{Cite web|url=https://www.prnewswire.com/news-releases/vail-resorts-reports-fiscal-2022-third-quarter-results-early-season-pass-sales-results-and-provides-updated-fiscal-2022-outlook-301565370.html|title=Vail Resorts Reports Fiscal 2022 Third Quarter Results, Early Season Pass Sales Results, and Provides Updated Fiscal 2022 Outlook|first=Vail Resorts|last=Inc|website=www.prnewswire.com}}</ref> |Vail owns a 55% share of the resort <ref>{{Cite press release|url=https://www.prnewswire.com/news-releases/vail-resorts-reports-fiscal-2022-third-quarter-results-early-season-pass-sales-results-and-provides-updated-fiscal-2022-outlook-301565370.html|title=Vail Resorts Reports Fiscal 2022 Third Quarter Results, Early Season Pass Sales Results, and Provides Updated Fiscal 2022 Outlook|last=Vail Resorts Inc|website=www.prnewswire.com}}</ref>
|- |-
|] |]
|] |]
|9 |9
|1965 January 26 |1965 January 26
|2019 September 24 |2019 September 24
|Bought from ] along with 16 other mountains. |Bought from ] along with 16 other mountains.
|- |-
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|] |]
|10 |10
|1947
⚫ |
|2019 September 24 |2019 September 24
|Bought from ] along with 16 other mountains. |Bought from ] along with 16 other mountains.
|- |-
|] |]
|] |]
| 8 |16
|1963
⚫ |
|2019 September 24 |2019 September 24
|Bought from ] along with 16 other mountains. * 16 lifts jointly with Brandywine |Bought from ] along with 16 other mountains.
|-
|]
|]
| 8
|
⚫ |2019 September 24
|Bought from ] along with 16 other mountains. * 16 lifts jointly with Boston Mills
|- |-
|] |]
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|1996 |1996
|<ref>{{cite web|title=History of the Breckenridge Ski Resort|url=http://www.coloradoskihistory.com/areahistory/breckenridge.html|access-date=June 16, 2018}}</ref> |<ref>{{cite web|title=History of the Breckenridge Ski Resort|url=http://www.coloradoskihistory.com/areahistory/breckenridge.html|access-date=June 16, 2018}}</ref>
⚫ |-
|]
|]
|19
⚫ |
|2023 November 30 <ref name="LeTemps-VailsResort">{{cite news|date=November 30, 2023|title=Crans-Montana: vous avez râlé, il va falloir assumer maintenant|work=]|url=https://www.letemps.ch/opinions/editoriaux/crans-montana-perd-son-bouc-emissaire|last=Baur|first=Grégoire|access-date=November 30, 2023|language=fr}}</ref>
⚫ |
|- |-
|] |]
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|16 |16
|1961 November 23 |1961 November 23
|2018 September 27 <ref name="hotelnewsresource" /> |2018 September 27
|Acquired through Triple Peaks, LLC, in addition to Mount Sunapee and Okemo, alongside purchase of Stevens Pass.<ref name="hotelnewsresource"/>
⚫ |Purchased with Mt. Sunapee, Stevens Pass, and Okemo.<ref name=":0">{{cite news|date=June 4, 2018|title=Vail Resorts in buying spree, acquiring Crested Butte, three other ski areas|work=Denver Business Journal|url=https://www.bizjournals.com/denver/news/2018/06/04/vail-resorts-in-buying-spree-acquiring-crested.html|access-date=June 16, 2018}}</ref>
|- |-
|] |]
|] |]
|5 |5
|1969 December 14 |1969 December 14
|2019 September 24 |2019 September 24
|Bought from ] along with 16 other mountains. |Bought from ] along with 16 other mountains.
|- |-
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|14 |14
|1946 |1946
|2019 February 22 |2019 February 22
|Bought from ] along with Hotham. |Bought from ] along with Hotham.
|- |-
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|30 |30
|1955 December 15<ref>{{cite web|url=http://www.tahoedailytribune.com/news/50-years-of-heavenly-a-chronicle-of-skiers-dreams-and-change-on-the-south-shore/|author=Jeremy Evans|title=50 years of Heavenly: A chronicle of skiers' dreams and change on the South Shore|work=Tahoe Daily Tribune|date=November 21, 2005|access-date=June 16, 2018}}</ref> |1955 December 15<ref>{{cite web|url=http://www.tahoedailytribune.com/news/50-years-of-heavenly-a-chronicle-of-skiers-dreams-and-change-on-the-south-shore/|author=Jeremy Evans|title=50 years of Heavenly: A chronicle of skiers' dreams and change on the South Shore|work=Tahoe Daily Tribune|date=November 21, 2005|access-date=June 16, 2018}}</ref>
|2002 March 26 |2002 March 26
| |
|- |-
|Hidden Valley |]
|] |]
|9 |9
|1982
|
|2019 September 24 |2019 September 24
|Bought from ] along with 16 other mountains. |Bought from ] along with 16 other mountains.
|- |-
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|Bought from Seven Springs Mountain Resort, Inc. and affiliates along with two other resorts.<ref name="dec21deal">{{cite news |last1=LaConte |first1=John |title=Vail Resorts closes on acquisition of Seven Springs, Hidden Valley and Laurel Mountain ski areas |url=https://www.steamboatpilot.com/news/vail-resorts-closes-on-acquisition-of-seven-springs-hidden-valley-and-laurel-mountain-ski-areas/ |access-date=January 4, 2022 |agency=Vail Daily |publisher=Steamboat Pilot & Today |date=January 1, 2022}}</ref> |Bought from Seven Springs Mountain Resort, Inc. and affiliates along with two other resorts.<ref name="dec21deal">{{cite news |last1=LaConte |first1=John |title=Vail Resorts closes on acquisition of Seven Springs, Hidden Valley and Laurel Mountain ski areas |url=https://www.steamboatpilot.com/news/vail-resorts-closes-on-acquisition-of-seven-springs-hidden-valley-and-laurel-mountain-ski-areas/ |access-date=January 4, 2022 |agency=Vail Daily |publisher=Steamboat Pilot & Today |date=January 1, 2022}}</ref>
|- |-
|] |]
|], Victoria, Australia |], Victoria, Australia
|14 |14
|1925 |1925
|2019 February 22 |2019 February 22
|Bought from ] along with Falls Creek. |Bought from ] along with Falls Creek.
|- |-
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|] |]
|15 |15
|1960 January 9 |1960 January 9
|2019 September 24 |2019 September 24
|Bought from ] along with 16 other mountains. |Bought from ] along with 16 other mountains.
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|] |]
|18 |18
|1972
|
|2019 September 24 |2019 September 24
|Bought from ] along with 16 other mountains. |Bought from ] along with 16 other mountains.
|- |-
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|<ref>{{cite news|title=Vail Resorts To Acquire Kirkwood Mountain Resort|url=http://news.vailresorts.com/article_display.cfm?article_id=1689%3Fintcmp%3DSN000023|access-date=22 February 2012}}</ref> |<ref>{{cite news|title=Vail Resorts To Acquire Kirkwood Mountain Resort|url=http://news.vailresorts.com/article_display.cfm?article_id=1689%3Fintcmp%3DSN000023|access-date=22 February 2012}}</ref>
|- |-
|] |]
|] |]
|2 |1
|1939 |1939
|2021 December 31 |2021 December 31
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|9 |9
|1960 |1960
|2019 September 24 |2019 September 24
|Bought from ] along with 16 other mountains. |Bought from ] along with 16 other mountains.
|- |-
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|] |]
|12 |12
|1962
|
|2019 September 24 |2019 September 24
|Bought from ] along with 16 other mountains. |Bought from ] along with 16 other mountains.
|- |-
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|12 |12
|1960 |1960
|2012 December 6 |2012 December 6
|<ref name="midwest" /> |<ref name="midwest" />
|- |-
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|20 |20
|1954 |1954
|2019 September 24 |2019 September 24
|Bought from ] along with 16 other mountains. |Bought from ] along with 16 other mountains.
|- |-
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|11 |11
|1948 December 26 |1948 December 26
⚫ |2018 September 27
⚫ |2018 September 27 <ref name="hotelnewsresource">{{Cite web|url=https://www.hotelnewsresource.com/article101849.html|title=Vail Resorts Closes Acquisition of Okemo Mountain Resort, Mount Sunapee Resort and Crested Butte Mountain Resort|website=www.hotelnewsresource.com|access-date=2019-08-11}}</ref>
⚫ |Acquired through Triple Peaks, LLC, in addition to Crested Butte and Okemo, alongside purchase of Stevens Pass.<ref name="hotelnewsresource"/> The first resort in New Hampshire to be operated by Vail. Owned by the State of NH but operated alongside ]<ref name=":0">{{cite news|date=June 4, 2018|title=Vail Resorts in buying spree, acquiring Crested Butte, three other ski areas|work=Denver Business Journal|url=https://www.bizjournals.com/denver/news/2018/06/04/vail-resorts-in-buying-spree-acquiring-crested.html|access-date=June 16, 2018}}</ref>
|Owned by State of NH but operated alongside ], first resort in New Hampshire to be operated by Vail<ref name=":0" />
|- |-
|] |]
|] |]
|20 |20
|1972 December |1972 December
|2010 October 25 |2010 October 25
|<ref>{{cite news|author=Scott Miller|date=October 25, 2010|title=Vail Resorts acquires Northstar-at-Tahoe|work=]|publisher=]|url=https://www.vaildaily.com/news/vail-resorts-acquires-northstar-at-tahoe/|access-date=June 16, 2018}}</ref> |<ref>{{cite news|author=Scott Miller|date=October 25, 2010|title=Vail Resorts acquires Northstar-at-Tahoe|work=]|publisher=]|url=https://www.vaildaily.com/news/vail-resorts-acquires-northstar-at-tahoe/|access-date=June 16, 2018}}</ref>
|- |-
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|] |]
|20 |20
|1956 January 31 |1956 January 31
|2018 September 27 <ref name="hotelnewsresource"/> |2018 September 27
⚫ |Acquired through Triple Peaks, LLC, in addition to Crested Butte and Mount Sunapee, alongside purchase of Stevens Pass.<ref name="hotelnewsresource">{{Cite web|url=https://www.hotelnewsresource.com/article101849.html|title=Vail Resorts Closes Acquisition of Okemo Mountain Resort, Mount Sunapee Resort and Crested Butte Mountain Resort|website=www.hotelnewsresource.com|access-date=2019-08-11}}</ref>
|Purchased alongside Mount Sunapee, Stevens Pass, and Crested Butte.
|- |-
|] |]
|] |]
|8 |8
|1978 December |1978 December
|2019 September 24 |2019 September 24
|Bought from ] along with 16 other mountains. |Bought from ] along with 16 other mountains.
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|10 |10
|1937 |1937
|2018 June 4 |2018 August 15
|Purchased alongside Mount Sunapee, and Okemo. |Purchased and announced alongside Crested Butte, Mount Sunapee, and Okemo.<ref name="hotelnewsresource" />
|- |-
|] |]
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|1966 January 15 |1966 January 15
|2016 August 8 |2016 August 8
|Purchased 75% interest in Whistler & Blackcomb Partnerships (balance owned by Nippon Cable) |Vail owns a 75% interest in Whistler & Blackcomb Partnerships, and the remaining 25% is owned by ]
|- |-
|] |]
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|1958 January 25 |1958 January 25
|2019 September 24 |2019 September 24
|Wildcat trail cut by CCC in 1933. Original gondola started operation in 1958. ] acquired Wildcat in 2010. |Bought from Peak Resorts along with 16 other mountains. Wildcat trail initially cut by CCC in 1933; original gondola started operation in 1958. ] acquired Wildcat in 2010.
|- |-
|] |]
|] |]
|11 |11
|1938 February |1938 February
|2016 January 19 |2016 January 19
| |
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==External links== ==External links==
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Latest revision as of 06:46, 26 December 2024

American mountain resort company
Vail Resorts, Inc.
Company typePublic
Traded as
Founded1997; 27 years ago (1997)
HeadquartersBroomfield, Colorado, U.S.
Key people
RevenueDecrease US$2.89 billion (2024)
Operating incomeDecrease US$491 million (2024)
Net incomeDecrease US$230 million (2024)
Total assetsDecrease US$5.70 billion (2024)
Total equityDecrease US$1.04 billion (2024)
Number of employees7,600 (2024)
Websitevailresorts.com
Footnotes / references

Vail Resorts, Inc. is an American mountain resort company headquartered in Broomfield, Colorado. The company is divided into three divisions. The mountain segment owns and operates 42 mountain resorts in four countries. Vail Resorts Hospitality owns or manages hotels, lodging, condominiums, and golf courses, and the Vail Resorts Development Company oversees property development and real estate holdings.

History

Vail Resorts was founded as Vail Associates Ltd. by Pete Seibert and Earl Eaton in the early 1960s. Eaton, a lifelong resident, led Siebert (a former WWII 10th Mountain Division ski trooper) to the area in March 1957. They both became ski patrol guides at Aspen, Colorado, when they shared their dream of finding the "next great ski mountain." Siebert set off to secure financing, and Eaton engineered the early lifts. Their Vail ski resort opened in 1962. George N. Gillett Jr. purchased Vail Associates in 1985. Vail Associates changed its name to Vail Resorts and went public in 1997 after Gillett Holdings went bankrupt. Apollo Management, headed by Leon Black, bought the company out of bankruptcy and took Vail Resorts public, controlling Vail Resorts until 2003, when Apollo divested itself of controlling interest. The skating rink at Beaver Creek, Colorado, was named the Black Family Skating Rink after Leon Black.

Rob Katz, a former executive at Apollo, ran Vail Resorts as CEO until November 2021, when he was appointed executive chairperson of the board. Kirsten Lynch, the company's former chief marketing officer, then took over as CEO.

In June 2024, Vail Resorts reported lower-than-expected revenue during the February-April quarter due to a significantly warmer-than-anticipated winter across western North American resorts, with snowfall 28% lower than average. The company generated $1.28 billion in revenue during the quarter despite the stabilizing effect of its Epic Pass program, which allows customers to purchase a season pass for its North American resorts at a significant upfront cost. However, Vail's stock price has declined by 50% since its October 2021 peak of $360. While this past winter was one of the warmest on record for the company, concerns exist that future winters may even be warmer.

Criticism

Some of Vail Resort's acquisitions have fueled anger among local residents. Locals complain that the Vail's pass structure caters to wealthy international pass holders and reduces access to nearby residents; additionally, residents have seen their cost-of-living increase following Vail's takeovers.

RockResorts

In 2001, Vail Resorts acquired the luxury hotel chain RockResorts, contributing substantially to its brand recognition. RockResorts was named after its original owners, the Rockefeller Family. As of January 2017, the properties include:

The Pines Lodge at Beaver Creek, CO
The Lodge at Vail, CO
The Osprey at Beaver Creek, CO
The Arrabelle at Vail Square, CO
One Ski Hill Place at Breckenridge Ski Resort
The Grand Summit Hotel in Park City Utah

Subsidiaries and affiliates

All of the company's retail operations are run by a smaller company, , of which Vail owns 70%. The owners of the other 30% are the Gart Brothers, specifically Tom Gart, Ken Gart, and John Gart. The Gart family has been in the sporting goods business for three generations and was the former owner of Gart Sports, a large chain of sporting goods stores in the western US. Gart Sports was sold by the Gart family in the 1990s and then recently sold again to Sports Authority, which discontinued the use of the Gart Sports name in 2006. In 2010, Vail completed the buyout of the Specialty Sports Venture brand and is now the 100% owner of all SSV operations. In addition to all of the ski shops in the Vail Resorts portfolio of ski areas, the SSV chain of stores includes Bicycle Village in Denver, Colorado Ski & Golf, Boulder Ski Deals, Aspen Sports, Telluride Sports, and Mountain Sports Outlet in Summit County and Glenwood Springs and many others. SSV is reportedly the largest Trek bicycle dealer in the world.

Vail Resorts also owns just over 50% of Slifer Smith and Frampton (SSF), the largest real estate brokerage company in the Vail region, controlling over 70% of the real estate transactions in the market. Slifer, Smith, and Frampton were called Slifer, Smith, and Frampton/Vail Associates Real Estate, but they dropped the "Vail Associates" name in 2003. The founders of SSF are Rod Slifer, a former ski instructor who was recently the mayor of the Town of Vail, and Mark Smith, a real estate broker/turned developer who currently also runs East West Partners with Harry Frampton, who was the former President of Vail Associates and currently owns East West Partners. East West Partners has built most of the large buildings that make up the Beaver Creek Village, including the Marketplace Building, Village Hall, and One Beaver Creek. This is separate from East West Resorts, a separate property management group.

Vail Resorts Development Company (VRDC) is the wholly-owned real estate development company that Vail Resorts uses to develop all of its company-owned real estate, other than the projects East West Partners develops. VRDC developed Bachelor's Gulch, one of the business's most upscale ski-in/ski-out resorts, with its own Ritz Carlton and just over 100 slopeside mansions. President Gerald Ford kept his ski house between Beaver Creek and Bachelor's Gulch in the Strawberry Park section of Beaver Creek. Arrowhead is the third "peak" in the heavily promoted "village to village ski experience" in which you can ski from Beaver Creek to Bachelor's Gulch to Arrowhead and back again. Arrowhead was a separate ski area unrelated to Beaver Creek for years before Vail Associates finally bought them in the early 1990s. VRDC also developed the "club" division of Vail Resorts, including the Beaver Creek Club, the Arrowhead Alpine Club, and the Game Creek Club (in Vail). VRDC also developed Red Sky Ranch in Wolcott (approximate 10 miles (16 km) west of Beaver Creek), which includes two golf courses and many million dollar golf course homes. These clubs are now operated by the "Mountain Division" of Vail Resorts.

List of resorts

Vail Resorts operates 42 ski resorts in the United States, Canada, Australia and Switzerland including, notably, the Vail, Beaver Creek, Breckenridge, Keystone, and Crested Butte ski areas in Colorado, and Northstar California, Kirkwood Mountain Resort, and Heavenly Mountain Resort on the California-Nevada border. In British Columbia, Canada, they also acquired the largest ski resort in North America: Whistler Blackcomb. Vail Resorts offers a variety of multi-resort season passes under the Epic Pass program. The Epic Pass also has partnerships that allow access to several other resorts in the US, Canada, Japan, France, Switzerland, Austria, and Italy. Vail Resorts acquired the Grand Teton Lodge Company within the Grand Teton National Park in Wyoming in 1999. The GTLC properties include the Jenny Lake Lodge, Jackson Lake Lodge, and Colter Bay Village.

Name Location Number of lifts Date opened Date acquired Notes
Afton Alps Hastings, Minnesota 22 1963 December 21 2012 December 6
Alpine Valley Chesterland, Ohio 5 1965 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Andermatt-Sedrun Switzerland 19 2022 March 28 Vail owns a 55% share of the resort
Attitash Mountain Bartlett, New Hampshire 9 1965 January 26 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Beaver Creek Resort Beaver Creek, Colorado 25 1980 December 15 —
Big Boulder Lake Harmony, Pennsylvania 10 1947 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Boston Mills-Brandywine Peninsula, Ohio 16 1963 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Breckenridge Ski Resort Breckenridge, Colorado 32 1961 December 16 1996
Crans-Montana Switzerland 19 2023 November 30
Crested Butte Mountain Resort Crested Butte, Colorado 16 1961 November 23 2018 September 27 Acquired through Triple Peaks, LLC, in addition to Mount Sunapee and Okemo, alongside purchase of Stevens Pass.
Crotched Mountain Bennington, New Hampshire 5 1969 December 14 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Falls Creek Bogong High Plains, Victoria, Australia 14 1946 2019 February 22 Bought from Merlin Entertainments along with Hotham.
Heavenly Mountain Resort South Lake Tahoe, California 30 1955 December 15 2002 March 26
Hidden Valley Eureka, Missouri 9 1982 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Hidden Valley Resort (Pennsylvania) Hidden Valley, Pennsylvania 4 1958 2021 December 31 Bought from Seven Springs Mountain Resort, Inc. and affiliates along with two other resorts.
Hotham Alpine Resort Mount Hotham, Victoria, Australia 14 1925 2019 February 22 Bought from Merlin Entertainments along with Falls Creek.
Hunter Mountain Hunter, New York 15 1960 January 9 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Jack Frost White Haven, Pennsylvania 18 1972 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Keystone Resort Keystone, Colorado 20 1970 November 21 1996
Kirkwood Mountain Resort Kirkwood, California 15 1972 2012 February 22
Laurel Mountain Somerset County, Pennsylvania 1 1939 2021 December 31 Bought from Seven Springs Mountain Resort, Inc. and affiliates along with two other resorts.
Liberty Mountain Resort Fairfield, Pennsylvania 9 1960 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Mad River Mountain Zanesfield, Ohio 12 1962 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Mount Brighton Brighton, Michigan 12 1960 2012 December 6
Mount Snow West Dover, Vermont 20 1954 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Mount Sunapee Resort Newbury, New Hampshire 11 1948 December 26 2018 September 27 Acquired through Triple Peaks, LLC, in addition to Crested Butte and Okemo, alongside purchase of Stevens Pass. The first resort in New Hampshire to be operated by Vail. Owned by the State of NH but operated alongside Okemo
Northstar California Truckee, California 20 1972 December 2010 October 25
Okemo Mountain Resort Ludlow, Vermont 20 1956 January 31 2018 September 27 Acquired through Triple Peaks, LLC, in addition to Crested Butte and Mount Sunapee, alongside purchase of Stevens Pass.
Paoli Peaks Paoli, Indiana 8 1978 December 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Park City Mountain Resort Park City, Utah 41 1963 December 21 2013 May 29 (Canyons)

2014 September 11 (Park City)

In 2015, Vail merged the Park City and Canyons resorts under the Park City Mountain Resort name, connecting them with a gondola.
Perisher Ski Resort Perisher Valley, Australia 46 1951 2015 March 30 Vail's first Australian property.
Roundtop Mountain Resort Lewisberry, Pennsylvania 7 1964 November 28 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Seven Springs Mountain Resort Seven Springs, Pennsylvania 14 1937 2021 December 31 Bought from Seven Springs Mountain Resort, Inc. and affiliates along with two other resorts.
Snow Creek Weston, Missouri 5 1986 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Stevens Pass Skykomish, Washington 10 1937 2018 August 15 Purchased and announced alongside Crested Butte, Mount Sunapee, and Okemo.
Stowe Mountain Resort Stowe, Vermont 12 1937 February 7 2017 February 21 Vail's first resort on the East Coast of the United States.
Vail Ski Resort Vail, Colorado 31 1962 December 15 — The third-largest ski resort in the United States.
Whistler Blackcomb Whistler, British Columbia, Canada 37 1966 January 15 2016 August 8 Vail owns a 75% interest in Whistler & Blackcomb Partnerships, and the remaining 25% is owned by Nippon Cable
Whitetail Resort Mercersburg, Pennsylvania 9 1991 2019 September 24 Bought from Peak Resorts along with 16 other mountains.
Wildcat Mountain Ski Area Gorham, New Hampshire 5 1958 January 25 2019 September 24 Bought from Peak Resorts along with 16 other mountains. Wildcat trail initially cut by CCC in 1933; original gondola started operation in 1958. Peak Resorts acquired Wildcat in 2010.
Wilmot Mountain Wilmot, Wisconsin 11 1938 February 2016 January 19

References

  1. "Vail Resorts, Inc. FY 2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 26 September 2024.
  2. Lauren Moran (March 19, 2011). "Vail visionaries". Vail Daily. Swift Communications. Retrieved June 16, 2018.
  3. Randy Wyrick (May 20, 2011). "1985: The year the deals got done". Vail Daily. Swift Communications. Retrieved June 16, 2018.
  4. "Vail Resorts Inc. - 10-K Annual Report". Getfilings.com. September 30, 1997. Retrieved June 16, 2018.
  5. "Gillett Bankruptcy Filing". The New York Times. Associated Press. August 18, 1992. Retrieved June 16, 2018.
  6. LaConte, John (2 November 2021). "Kirsten Lynch begins new role as Vail Resorts CEO". www.aspentimes.com. Retrieved 2022-03-15.
  7. Badenhausen, Kurt (2024-06-06). "VAIL RESORTS MISS Q3 REVENUE, EPS ESTIMATES AS STOCK SINKS". Sportico. Retrieved 2024-06-10.
  8. "Vail Resorts owns Perisher and Whistler ski resorts and the locals aren't happy". 9 April 2018.
  9. "What It Means to Ski in a Vail-Dominated World". 14 October 2014.
  10. "Epic Season Pass". www.epicpass.com. Retrieved June 16, 2018.
  11. ^ "Vail Resorts to Acquire Two Ski Areas in Midwest, Afton Alps in Minnesota and Mount Brighton in Michigan". Vail Resorts. Retrieved June 16, 2018.
  12. Vail Resorts Inc. "Vail Resorts Reports Fiscal 2022 Third Quarter Results, Early Season Pass Sales Results, and Provides Updated Fiscal 2022 Outlook". www.prnewswire.com (Press release).
  13. "History of the Breckenridge Ski Resort". Retrieved June 16, 2018.
  14. Baur, Grégoire (November 30, 2023). "Crans-Montana: vous avez râlé, il va falloir assumer maintenant". Le Temps (in French). Retrieved November 30, 2023.
  15. ^ "Vail Resorts Closes Acquisition of Okemo Mountain Resort, Mount Sunapee Resort and Crested Butte Mountain Resort". www.hotelnewsresource.com. Retrieved 2019-08-11.
  16. Jeremy Evans (November 21, 2005). "50 years of Heavenly: A chronicle of skiers' dreams and change on the South Shore". Tahoe Daily Tribune. Retrieved June 16, 2018.
  17. ^ LaConte, John (January 1, 2022). "Vail Resorts closes on acquisition of Seven Springs, Hidden Valley and Laurel Mountain ski areas". Steamboat Pilot & Today. Vail Daily. Retrieved January 4, 2022.
  18. "Vail Resorts To Acquire Kirkwood Mountain Resort". Retrieved 22 February 2012.
  19. "Vail Resorts in buying spree, acquiring Crested Butte, three other ski areas". Denver Business Journal. June 4, 2018. Retrieved June 16, 2018.
  20. Scott Miller (October 25, 2010). "Vail Resorts acquires Northstar-at-Tahoe". Vail Daily. Swift Communications. Retrieved June 16, 2018.
  21. "Vail Resorts Acquires Park City Mountain Resort in Park City, Utah | Vail Resorts Corporate". News.vailresorts.com. September 11, 2014. Retrieved June 16, 2018.
  22. Mary Forgione (July 29, 2015). "Goodbye Canyons, hello Park City: Utah ski resort on track to be biggest in U.S." Los Angeles Times. Retrieved June 16, 2018.
  23. "Vail Resorts To Acquire Stowe Mountain Resort In Stowe, Vermont". News.vailresorts.com. February 21, 2017. Retrieved June 16, 2018.

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