Epic pass buoys Vail Resorts despite dips in visitation
By Jason Blevins, Denver Post
Weak snow across the West this year is impacting the ski resort industry in many ways, but the largest ski area operator in the country is hardly limping, thanks in part to President Trump’s tax overhaul.
Vail Resorts on Thursday reported a net income bump of $64.6 million for the three months through early March thanks to a one-time tax benefit from the U.S. Tax Cuts and Jobs Act. The recently enacted legislation fueled a 58 percent bump in net income for the company’s fiscal second quarter — the meat of the ski season for the owner of 11 destination ski areas in Colorado, California, British Columbia, Vermont and Australia.
That’s good news for shareholders. The company on Thursday said it would be sharing the tax-cut windfall with investors, announcing a 40 percent increase in its quarterly cash dividend to $1.47 per share.