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News Breaks
September 26, 2012
07:11 EDTMTNVail Resorts price target raised to $66 from $55 at Credit Suisse
Vail Resorts reported that season pass sales are already up 17% year-over-year, indicating a strong season. Credit Suisse said Vail's guidance for FY13 was impressive and that revenue visibility is solid. Share are Outperform rated.
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March 30, 2015
17:05 EDTMTNVail Resorts sees Perisher generating IRR EBITDA of about $16M during year one
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17:02 EDTMTNVail Resorts to acquire Perisher Ski Resort for approximately $136M
Vail Resorts announced that the company has agreed to acquire its first international mountain resort, Perisher Ski Resort in New South Wales, Australia, for total cash consideration of approximately $136M, subject to certain adjustments. Perisher is the largest and most visited ski resort in Australia, and is well-positioned with access to the country's largest cities, including Sydney, Melbourne, Adelaide, Canberra and Brisbane. Perisher is also the largest ski resort in the Southern Hemisphere. The acquisition is expected to close in the fourth quarter following the satisfaction of certain conditions, including approval by the New South Wales Government under the long-term lease and license noted below. The company is purchasing 100% of the stock in the entities that operate Perisher from Murray Publishers Pty Ltd and Transfield Corporate Pty Ltd in Sydney. Perisher holds a long-term lease and license with the New South Wales Government under the National Parks and Wildlife Act, which expires in 2048 with a 20-year renewal option. The acquisition includes the resort areas known as Perisher Valley, Smiggin Holes, Blue Cow and Guthega, along with ski school, lodging, food and beverage, retail/rental and transportation operations, which together comprise Perisher.

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