Vail Resorts Profit Gains Nearly 36% On Easing Covid; Shares RiseShares in Vail Resorts, one of the
world’s largest ski resort businesses, opened higher in early trade at the New York Stock Exchange after it reported a jump in profit amid an easing impact of Covid-19 in the U.S. this year.
Net profit at Vail Resorts in the
three months to April 30 rose by 35.6% to $372.6 million compared to $274.6 million a year earlier. Revenue increased by 32% to $1.17 billion from $889 million.
For the nine months to April 30, revenue increased to $2.25 billion from $1.7 billion.
Vail owns
winter resorts in the U.S., Canada and Australia, runs or operates hotels, and develops real estate. In March, it announced plans to
buy a 55% stake in Andermatt-Sedrun in Switzerland, marking its first strategic investment in a ski resort in Europe.
