Exhibit 99.1
vaila07.jpg
Vail Resorts Contacts:
Investor Relations: Bo Heitz, (303) 404-1800, InvestorRelations@vailresorts.com    
Media: Carol Fabrizio, (720) 524-5025, cfabrizio@vailresorts.com
Vail Resorts Reports Fiscal 2019 Fourth Quarter and Full Year Results and Provides Fiscal 2020 Outlook
BROOMFIELD, Colo. - September 26, 2019 - Vail Resorts, Inc. (NYSE: MTN) today reported results for the fourth quarter and fiscal year ended July 31, 2019 and provided its outlook for the fiscal year ending July 31, 2020.
Highlights
Net income attributable to Vail Resorts, Inc. was $301.2 million for fiscal 2019, a decrease of 20.7% compared to fiscal 2018, which was positively impacted by U.S. tax reform.
Resort Reported EBITDA was $706.7 million for fiscal 2019, an increase of 14.6% compared to fiscal 2018. Fiscal 2019 Resort Reported EBITDA includes the operations of Triple Peaks, Stevens Pass, Falls Creek and Hotham (the “Acquired Resorts”) from each respective acquisition date, $16.4 million of acquisition and integration related expenses, and approximately $8 million of unfavorable foreign exchange as a result of the U.S. Dollar strengthening relative to the prior year. We estimate that Fiscal 2019 results benefited by approximately $4 million in Resort Reported EBITDA from not owning Triple Peaks and Stevens Pass during a portion of the months of August and September, a period that these resorts operate at a loss. In the prior year, Resort Reported EBITDA was $616.6 million, which included $10.2 million of acquisition and integration related expenses.
Season pass sales through September 22, 2019 for the upcoming 2019/2020 North American ski season increased approximately 14% in units and 15% in sales dollars as compared to the period in the prior year through September 23, 2018, including Military Pass sales in both periods. Pass sales exclude Peak Resorts pass sales in both periods and are adjusted to eliminate the impact of foreign currency by applying an exchange rate of $0.75 between the Canadian dollar and U.S. dollar in both periods for Whistler Blackcomb pass sales.
The Company issued its fiscal 2020 guidance range and expects Resort Reported EBITDA to be between $778 million and $818 million. The guidance includes an estimated contribution of $53 million for Peak Resorts operations, including


The following information was filed by Vail Resorts Inc (MTN) on Thursday, September 26, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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