Vail Resorts continues to post favorable earnings despite pandemic-related restrictions.
The Colorado-based company — which operates more than 35 resorts and ski areas — generated $2.5 billion in revenue in fiscal Q4 2022, a 32.3% increase year-over-year and its highest figure since 2009.
- Net income reached $347.9 million in fiscal Q4, up from $127.9 million in Q4 2021.
- The company’s total cash and revolver availability as of July 31 was roughly $1.7 billion.
- Its mountain segment generated $1.3 billion in revenue in Q4, up 21.7% year-over-year.
- The company’s lodging segment saw revenue increase by $101.8 million compared to Q4 2021.
Vail Resorts has announced plans to invest $175 million in its employees across all of its North American resorts, including increasing the company’s minimum wage to $20 per hour.
Last year, Vail Resorts announced a $315 million-to-$325 million capital plan that will add 18 new or replacement lifts across 12 resorts ahead of the 2022-23 ski season.
Growing Portfolio
Vail Resorts has maintained its momentum during the pandemic through acquisitions.
In December 2021, the company acquired Seven Springs Mountain Resort in Champion, Pennsylvania, for $118 million. The deal included Hidden Valley Resort and the operations of Laurel Mountain Ski Area, both located near Pittsburgh.
Last month, Vail Resorts closed its first strategic investment in Europe, the acquisition of a majority stake (55%) in Andermatt-Sedrun Sport AG, the largest ski area in Central Switzerland.
