Keefe Bruyette & Woods Comments On Vail Resorts Following Investor Day

Vail Resorts MTN hosted its annual investor day at Breckenridge, showcasing its One Ski Hill Place property. Themes were largely familiar, including high barrier-to-entry industry, focus on improving pre-season sales, and overall yield management and driving ancillary revenues. In addition, the company highlighted its interest in acquisition opportunities, including international. The largest risk to Vail Resorts in Keefe Bruyette & Woods' opinion is a significant slowdown in the U.S. economy that would likely impact pricing and result in a reduced earnings outlook. In addition, a lack of normal snowfall could lead potential visitors to postpone or cancel. In addition, external events like terrorism, war, and natural disasters could impact consumer propensity to travel, likely reducing visitation to Vail Resorts. KBW has a $58 PT and Outperform rating on MTN MTN closed Tuesday at $47.69