 Poster: A snowHead
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American ski resort operator Vail Resorts is about to experience a major change! Kirsten Lynch, General Manager since 2021, is stepping down. A lacklustre winter season, criticism of the company's strategy and an employee strike at Park City Mountain Resort last winter sealed her fate.
However, she remains linked to the company until September 26, as consultant. Kirsten Lynch is leaving with a generous golden parachute: according to the compensation agreement published by Vail Resorts, she will receive US$2,249,108, equivalent to two years' salary. Ironic story? Her predecessor becomes her successor. Rob Katz, CEO between 2006 and 2021 and then Chairman of the Board of Directors, takes over.
In Switzerland, Vail Resorts owns Andermatt-Sedrun and Crans-Montana, and is actively monitoring other takeover opportunities. For the time being, the change of management has no local impact.
The company confirms that its global expansion strategy remains unchanged. Planned investments, whether in Switzerland or Australia, are being maintained.
However, Rob Katz intends to boost global growth with “a leaner, more efficient corporate structure”. It remains to be seen whether this will involve the return of Mike Goar from Switzerland, a long-standing executive, in a bid to reduce administrative costs.
A few days ago, Vail Resorts published unflattering results for its core North American market. The number of skiers fell by 3.1%, while lift revenues rose by 3.4% - a sign of soaring prices.
Despite this drop in visitor numbers, some sectors made progress. Ski schools saw their revenues rise by 2.7%, and catering by 2.2%. But retail sales and rentals fell by 4%.
Kirsten Lynch acknowledged that EBITDA for fiscal 2025 was likely to be at the lower end of the forecasts announced on March 10. This would be the third year in a row that the company has failed to meet its mid-season targets. The result? At the time of the announcement, the stock was trading at around US$135, close to the lows reached during the 2020 pandemic.
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https://www.blick.ch/fr/suisse/vail-resorts-remplace-sa-dirigeante-suite-a-des-mauvais-resultats-id20916606.html?utm_campaign=blick-fr-page-post&utm_content=article-fresh&utm_medium=social&utm_source=facebook&utm_term=cde-facebook-image-fresh-articles-after-hours-2626
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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She’s the scapegoat. So of course they have to pay her enough to keep her quiet.
“Leaner corporate structure” means they would ignore local conditions, “loaning” snow cats for 2 mountains 20 miles apart (New Hampshire), stop making snows early season (New York) and closing season early (Kirkwood, California) etc…
Vail had been buying up local mountains and running them at shoestring, pi55ing off long time loyal patrons. While property owners had no choice but to put up with the shortcoming, many of those mountains have large urban skier population that can go elsewhere.
I felt Vail at one time had a winning strategy with their more modest Midwest expansion. But their far more ambitious California and Northeast expansion didn’t go nearly as well. They’re paying the price now. Not sure where the European expansion falls though.
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You need to Login to know who's really who.
You need to Login to know who's really who.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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It’s kind of old news.
But there’s some context, the detail of which I don’t remember any more. But I vaguely recall it’s before the lift opens, after an overnight storm.
I’m not a supporter of Vail. I usually use IKON. But many of the Vail hating comments don’t always paints the full picture. (These days, it’s hard to get the “full picture” on anything any more  )
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You'll need to Register first of course.
You'll need to Register first of course.
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@abc, Unlike the USA, most European resorts have perfectly acceptable alternatives close by that can easily be a accessed from the same airport, trains etc.
Buying up a resort and hiking prices without investing in infrastructure as they have in N America just won't work as a business model. People will simply book the next resort, and avoid skiing into that area. It will kill the local economy.
They will be competing with the likes of the Dolomites, where they have invested millions on improving lifts in the last few years (I heard 15million mentioned)
If they tried to buy up part of a linked area,eg the 3V, and restrict access or charge massive daily rates, I'm pretty sure the French Authorities would quickly get involved and block the purchase.
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@brianatab, not to make excuse for Trump. But the various state & federal authority that were tasked to prevent that kind of local monopoly should have blocked those purchases. Well, they didn’t.
In many of those areas, there were still competition options. But those who had property ON the mountain Vail bought up can’t realistically exercise such options. Only the visitors can.
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