Vail Resorts CEO Donates $11.7 Million to Support COVID-19 Efforts, Racial Justice Reform and Youth Access Vail Resorts, Inc. announced yesterday that Chairman and Chief Executive Officer Rob Katz has exercised stock appreciation rights (SARs), that were set to expire in 2021, and will be making a charitable donation of 100 percent of the proceeds received. Based on the market price on the date of exercise of $194.74 per share, the donation is equal to approximately $11.7 million. After withholding […] Industry News SnowBrains | June 11, 2020 0 Comments
Rob Katz, Vail Resorts CEO Addresses Current Racial Unrest | Admits Personal Failings in Addressing ‘Overwhelmingly White’ Sport Vail Resorts CEO Rob Katz sent a letter to employees on Tuesday saying “we are part of the problem” in reference to the murder of George Floyd in Minneapolis and the week of protests and unrest across the nation, and the world. Having been around our industry for close to 30 years and CEO of Vail Resorts for the past […] Industry News SnowBrains | June 4, 2020 4 Comments
Vail Resorts Will Not Reopen Any Resorts For Skiing This Spring | Summer Operations Will Begin Late June/Early July Vail Resorts CEO Rob Katz sent the following email to employees yesterday morning regarding the company’s approach to reopening its resorts and businesses in this new environment. In a letter to employees yesterday, Vail Resorts CEO Rob Katz revealed the company’s plans for reopening its resorts and businesses in the coming weeks and months. First the bad news; no Vail […] Industry News SnowBrains | May 22, 2020 1 Comment
Vail Resorts Terminates Employee Responsible for Beaver Creek, CO Protest Sign The man responsible for placing a protest sign in front of the Beaver Creek, CO snowstake webcam has been fired by his employers, Vail Resorts reports the Vail Daily. Related: Angry Vail Resorts Employee Places Sign In Front of Beaver Creek, CO Webcam The sign was placed there by Tim McMahon on Friday 27th March in protest to a letter […] Industry News SnowBrains | April 22, 2020 0 Comments
The Hardest Hit Companies of the COVID-19 Economic Crisis : ‘BEACH’ Stocks The COVID-19 pandemic has spread to over 100 countries and governments everywhere are implementing strict travel restrictions. As a result, “Beach” stocks, companies in the entertainment and travel sectors, have seen a $332 billion market loss in the past month, Visual Capitalist reports. Beach stocks are companies involved with: Booking Entertainment & live events Airlines Cruises and Casinos Hotels & […] Brains The Brains | April 7, 2020 0 Comments
Vail Resorts Calls Off All 2020 Lift Construction, Announces Drastic Reduction In Expenses Today, Vail Resorts announced the cancellation of all their lift construction projects for 2020. Some of the ski resorts Vail had intended on giving new lifts included Breckenridge, Beaver Creek, Keystone, and Okemo. The company made the decision as a response to the dramatic decline in their revenue stream due to the COVID-19 crisis. The mega-corporation expects this decrease in […] Industry News SnowBrains | April 3, 2020 1 Comment
Angry Vail Resorts Employee Places Sign In Front of Beaver Creek, CO Webcam In a letter to employees earlier this month, Vail Resorts CEO Rob Katz advised that in the best interests of the community, those who can return home should do as soon as possible. This also included any who had summer jobs with the company lined up. The direction came from Eagle County officials, and the company gave employees 10-days to relocate […] Industry News SnowBrains | March 30, 2020 0 Comments
Vail Resorts CEO Rob Katz Addresses the Issue of the Lift-Line Scandal During Monday’s earnings call, Vail Resorts CEO Rob Katz was asked by an investor to comment on the negative press surrounding the resort following photos and videos of lift-lines went viral in February. The resort also had a tragic death on one of its chairlifts too during the same quarter. Related: Vail, CO Skier Dies of Asphyxia After Falling Off Chairlift […] Industry News SnowBrains | March 13, 2020 3 Comments
Vail Resorts Missed Earnings Expectations Yesterday | Skier Visits in PNW Down 14% Due to Poor Start to Winter Vail Resorts reported lower than expected earnings yesterday for its second fiscal quarter, with the poorest start to winter in 30-years for the Pacific Northwest resulting in a 14% decline in skier visits there. Skier visits in Colorado were up though, resulting in an overall decline in skier visits of 5.2%. Related: Californian Man Who Skied at Vail and Keystone is […] Industry News SnowBrains | March 10, 2020 0 Comments
Vail Resorts CEO Rob Katz Donates $15.7-Million to Charity Vail Resorts announced yesterday that Chairman and Chief Executive Officer Rob Katz has exercised stock appreciation rights (SARs) and will be donating 100% of the shares and proceeds received to his family charitable foundation and donor-advised charitable fund. Based on the market price on the date of exercise of $235.53 per share, the donation is equal to approximately $15.7 million. […] Industry News SnowBrains | June 12, 2019 0 Comments
Rob Katz, Vail Resorts CEO on Why the Ski Industry Needs Foreign Workers and Immigration Reform is Essential An open letter from Rob Katz, Vail Resorts CEO The United States has a long and rich history of welcoming generations of immigrants who have enhanced our country and our culture by contributing their talents, traditions, and entrepreneurial spirit. It saddens me to see how our current immigration system—broken and in desperate need of reform—contradicts these long-standing commitments to diversity […] Industry News SnowBrains | June 4, 2018 3 Comments
Vail Resorts to Increase Employee Minimum Wage by 11.3% Despite a ‘Challenging Snow Year’ Thanks to new US tax law, Vail Resorts will increase the minimum wage at its US and Canadian resorts and has announced a 40 percent increase in its quarterly dividend to shareholders, reports Vail Daily. During a Thursday, March 9, earnings call, Vail Resorts CEO Rob Katz said the company will see a cash savings of about $40 million in […] Industry News Steven Agar | March 9, 2018 0 Comments
Vail Resorts CEO, Rob Katz, Set Up A $58 Million Charitable Fund For Mountain Communities A 58 million charitable fund has been established by Vail Resorts CEO Rob Katz. The charitable fund will be used to make non-profit grants for mountain community social service organizations. The money comes from the sale of approximately 114,000 shares of Vail Resort stock, which were sold exercising Katz’ share appreciation rights, SAR, and were due to expire within the […] Industry News Douglas Perry | October 12, 2017 0 Comments
Vail Resorts CEO Says Addition of Whistler Blackcomb, B.C Will NOT Increase “Epic Pass” Prices Vail Resorts CEO just stated that they don’t plan on raising Epic Pass prices despite the addition of Whistler Blackcomb – the largest ski resort in North America – to the Epic Pass in 2017/18. “Even though Whistler Blackcomb is one of the most impactful offerings that we’ve added to the Epic Pass, we still would absolutely not change our […] Industry News SnowBrains | August 12, 2016 6 Comments
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