Vail Resorts reports skier visits up 12.5% but cuts FY2023 Resort EBITDA guidance to lower half of range

VAIL RESORTS INC

Season-to-date skier visits up 12.5% vs prior-year period; lift ticket revenue up 5.3%.
Ski school revenue +35.6% YoY, dining +58.0%, retail/rental +34.4%.
CEO cites improved staffing but says destination visitation below expectations due to extreme weather and airline disruptions over holidays.
Fiscal 2023 Resort Reported EBITDA now expected in the lower half of the range issued Sept 28, 2022.
Guidance assumes normal weather, no material COVID impacts, and current FX rates.

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