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
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