Industry News
CEO of Vail Resorts, Kirsten Lynch, was recently interviewed by Joe Kernen, the host of Squawk Box on CNBC, which is a stock market morning news and talk program. In 2021 Lynch succeeded Rob Katz as CEO of Vail Resorts. Prior to her promotion, she had served as the Chief Marketing Officer for more than ten years. During the interview, she gave some interesting insight from a financial perspective on the status of the company heading into the 2023/2024 season.
“We are set up for a great season,” says Kirsten, “We have over 2 million guests pre-committed in a season pass for this upcoming season across our 41 ski resorts.”
This growth can be seen in their most recent earnings call, which showed that sales of passes went up 4% and overall revenue went up 11% even after the increase in season pass prices for the 2023/24 season. Vail Resorts is worth over $8 billion and the company will continue to buy out ski resorts to maximize profits for their shareholders, regardless of the impact it has on mountain towns and resorts as many critics point out.
Kirsten also talked about how they now have resorts in Europe, in which she was referring to the new addition to their holdings of Crans-Montana Mountain Resort in Switzerland, which will be the second European resort alongside Andermatt-Sedrun-Disentis, Switzerland. She made clear that the company will have eyes on Europe going forward, as there is a large untapped market, even larger than the one in North America.
"We are set up for a great season," says @VailResorts CEO Kirsten Lynch $MTN. "We have over 2 million guests pre-committed in a season pass for this upcoming season across our 41 ski resorts." pic.twitter.com/uI2binnEG5
— Squawk Box (@SquawkCNBC) December 18, 2023
