Vail Resorts Lowers FY 2025 EBITDA Guidance to Low End
Vail Resorts said earlier, "Given the impact from conditions, we now expect our full year Resort Reported EBITDA to be just below the low end of the guidance range issued on September 29, 2025, assuming that performance in the Rockies returns to normal by President's weekend. To the extent that performance improvements in the Rockies lag, due to weaker than expected conditions, there could be further downside to our guidance. Our guidance also assumes (1) normal weather conditions, outside of the Rockies, for the remainder of the 2025/2026 ski season and the 2026 Australian ski season, (2) typical passholder usage for the remainder of the season, (3) continuation of the current economic environment, and (4) the foreign currency exchange rates as of our original fiscal 2026 guidance issued September 29, 2025." Shares of Vail Resorts are up 9c to $142.66 in early trading.
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U.S. Policy Affects Canadian Tourist Trends
- Visitor Decline Trend: U.S. ski resorts report a sharp drop in Canadian visitors, particularly in the New England region, despite excellent snowfall this winter, indicating a direct impact of policy on tourism.
- Canadian Tourist Reaction: Inntopia data reveals that Canadian bookings tend to drop significantly within 48 hours following any controversial geopolitical statement by President Trump, reflecting their dissatisfaction and resistance to U.S. policies.
- Sense of Betrayal: Tom Foley, Inntopia's director of business intelligence, states that Canadians feel betrayed by a longtime friend, exacerbating their resistance to U.S. ski resorts and affecting tourism stability.
- Impact on Las Vegas: There is also a notable decline in Canadian tourists visiting Las Vegas compared to last year, further demonstrating the negative impact of U.S. policies on tourism across other popular destinations.

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- Decline in Skier Visits: Vail Resorts reported a 20% drop in skier visits compared to last year, and despite a 6.26% dividend yield, analysts suggest management should consider cutting dividends to strengthen the balance sheet.






