Mission Statement, Vision, & Core Values (2024) of Vail Resorts, Inc. (MTN).

An Overview of Vail Resorts, Inc. (MTN)

General Summary of Vail Resorts, Inc. (MTN)

Vail Resorts, Inc. (MTN) is a leading global mountain resort operator, founded in 1962. The company owns and operates 42 destination mountain resorts and regional ski areas, including notable locations such as Vail, Beaver Creek, and Whistler Blackcomb. Vail Resorts is renowned for its commitment to providing exceptional outdoor experiences through a variety of products and services, including lift ticket sales, ski school, dining, retail, and lodging operations.

As of 2024, Vail Resorts reported a total net revenue of $2.885 billion, slightly down from $2.889 billion in 2023. The company's primary revenue streams include lift ticket sales, which accounted for approximately 57% of Mountain segment net revenue in 2024, as well as ski school and dining services which also contributed significantly to overall sales.

Company's Financial Performance in the Latest Financial Reports

For the fiscal year ending July 31, 2024, Vail Resorts achieved a net income attributable to the company of $230.4 million, compared to $268.1 million in 2023. This decline was primarily attributed to a decrease in skier visits, which fell by 9.5% year-over-year.

The Mountain Reported EBITDA for fiscal 2024 was $802.1 million, down from $822.6 million in the previous year, reflecting challenging conditions in North American resorts and broader industry normalization post-COVID. The company also reported total operating expenses of $2.056 billion, slightly up from $2.048 billion in 2023. Key financial highlights include:

Introduction to Vail Resorts as a Leader in the Industry

Vail Resorts stands out as a leader in the ski resort industry, leveraging a diverse portfolio of premium destinations that attract visitors from around the world. The company's innovative approach to customer experience, including the integration of technology into operations and marketing, has solidified its reputation as an industry leader. Vail Resorts has continually adapted to market trends and consumer preferences, ensuring sustained growth in a competitive landscape.

With a robust financial performance and a commitment to enhancing guest experiences, Vail Resorts continues to be a significant player in the tourism and hospitality sectors. For further insights into Vail Resorts, including its operational strategies and future growth plans, readers are encouraged to explore additional information below.

Mission Statement of Vail Resorts, Inc. (MTN)

Mission Statement of Vail Resorts, Inc. (MTN)

The mission statement of Vail Resorts, Inc. is a critical component that shapes the company's strategic direction and operational focus. As of 2024, Vail Resorts emphasizes its commitment to providing exceptional experiences in the mountain resort industry, prioritizing guest satisfaction, community engagement, and environmental stewardship.

Core Component 1: Exceptional Guest Experiences

Vail Resorts is dedicated to delivering high-quality products and services that enhance the guest experience. This commitment is reflected in various metrics:

• Total skier visits for the fiscal year 2024 were approximately 17.6 million, a decrease of 9.5% from the previous year, indicating a focus on improving the quality of experiences rather than just increasing visitor numbers.
• The effective ticket price (ETP) for the Mountain segment increased to $82.14, a 12.2% rise compared to the previous year, showcasing the company's ability to enhance value for guests.
• Revenue from ski school operations reached $304.5 million, growing by 6.0% year-over-year, which underscores the company's investment in high-quality instructional programs.

Core Component 2: Community Engagement

Vail Resorts places a strong emphasis on community involvement and corporate responsibility. This is evident through various initiatives and financial contributions:

• The company reported community engagement spending of approximately $12 million in 2024, reflecting its commitment to local communities.
• Vail Resorts has established partnerships with local organizations, enhancing its social impact and fostering community relationships.
• In 2024, the company continued to support environmental initiatives, committing $3 million towards sustainability programs.

Core Component 3: Environmental Stewardship

Vail Resorts' mission also emphasizes environmental sustainability. The company has made significant strides in reducing its ecological footprint:

• Vail Resorts aims to achieve a zero net operating footprint by 2030, with ongoing programs focused on energy efficiency and waste reduction.
• In fiscal year 2024, the company invested $5 million in renewable energy projects across its resorts, further supporting its sustainability goals.
• The company has implemented waste diversion strategies that resulted in a 20% reduction in landfill waste compared to the previous year.

Vision Statement of Vail Resorts, Inc. (MTN)

Vision Statement of Vail Resorts, Inc. (MTN)

The vision statement of Vail Resorts, Inc. focuses on creating a world-class mountain experience while emphasizing sustainability, community engagement, and exceptional guest service.

Vail Resorts is dedicated to achieving 100% renewable electricity across all its operations. The company is a member of the RE100 initiative, which includes over 400 global businesses committed to renewable electricity. In Fiscal 2024, Vail Resorts continued to make strides towards its Commitment to Zero goals, focusing on reducing waste and increasing recycling efforts, leading to recognition as a finalist for the National Ski Area Association’s Golden Eagle Overall Environmental Excellence Award.

Vail Resorts prioritizes community involvement through its EpicPromise program, which focuses on environmental stewardship and community support. In Fiscal 2024, the company sponsored the reforestation of 10 acres affected by wildfires in California and Minnesota, and it contributed to various local environmental organizations through its $1 guest donation program.

The vision emphasizes creating an outstanding guest experience. In the 2024 ski season, Vail Resorts reported that pass products generated approximately 65% of total lift revenue, which is a key driver of customer loyalty and revenue stability. The company offers various pass products, including the Epic Pass, which provides unlimited access to all Vail Resorts.

Vail Resorts continues to invest in technology to enhance the guest experience. For the 2024/2025 season, the company plans to launch My Epic Gear, a service to improve equipment rental processes across its resorts. The capital expenditure for this initiative is part of a larger $216 million to $221 million capital plan for calendar year 2024.

In line with its vision of expanding its reach and offerings, Vail Resorts acquired the Crans-Montana Mountain Resort in Switzerland for CHF 97.2 million ($106.8 million) in May 2024. This acquisition is expected to enhance the company's portfolio and provide new opportunities for pass holders.

For Fiscal 2024, Vail Resorts reported a net income of $230,405,000, with a slight decrease from $268,148,000 in Fiscal 2023. The company’s total net revenue for the fiscal year was $2,885,191,000.

Core Values of Vail Resorts, Inc. (MTN)

Commitment to the Environment

Vail Resorts is dedicated to sustainability and environmental stewardship as a core value. The company has set ambitious goals under its Commitment to Zero initiative, aiming for a zero net operating footprint by 2030. This includes achieving zero net emissions, zero waste to landfill, and zero net operating impact to forests and habitats by restoring an acre of forest for every acre displaced.

In Fiscal 2024, Vail Resorts was recognized as the first travel and tourism company to join RE100, committing to 100% renewable electricity. The company procured renewable electricity from the 82-turbine Plum Creek Wind project and initiated the Elektron Solar Project, which began operations in May 2024, providing Park City Mountain with 100% clean renewable electricity.

Community Support

Vail Resorts emphasizes community engagement through its EpicPromise program, which focuses on supporting local communities. In Fiscal 2024, the EpicPromise community impact grant program prioritized larger grants for housing and childcare, alongside initiatives for food security and education access.

The company hosted 2,584 urban youth for a 5-day snowsports program in partnership with the Katz Amsterdam Foundation and engaged over 12,000 youth in mentorship and leadership programs.

Employee Welfare

Vail Resorts places significant importance on employee welfare, investing in competitive wages and benefits. As of July 31, 2024, the company employed approximately 7,600 year-round employees and around 44,900 seasonal employees during peak seasons. The company also provides mental health support, unique employee benefits like ski passes, and a robust employee foundation offering over $1 million in grants and scholarships annually.

Guest Experience

Vail Resorts is committed to delivering exceptional guest experiences across its operations. The company offers a variety of pass products that accounted for approximately 65% of total lift revenue in Fiscal 2024, driving customer loyalty and enhancing revenue stability. The resorts also provide diverse winter and summer activities, ensuring a comprehensive experience for guests.