BROOMFIELD, Colo., March 12, 2015 — Vail Resorts, Inc. (NYSE: MTN) today reported results for the second quarter of fiscal 2015 ended January 31, 2015 and the Company’s ski season-to-date metrics through March 8, 2015.

Highlights

  • Resort Reported EBITDA increased 32.2% for the second quarter of fiscal 2015 compared to the same period in the prior year.
  • Net income attributable to Vail Resorts, Inc. was $115.8 million for the second fiscal quarter of 2015, representing a 95.3% increase compared to the same period in the prior year.
  • The Company updated its fiscal 2015 guidance with Resort Reported EBITDA expected to be between $340 million and $350 million, excluding the $16.4 million non-cash gain related to the Park City litigation settlement, which remains within the Company’s initial guidance range.
  • The Company has repaid all borrowings under the revolver portion of its credit facility used to finance the $182.5 million acquisition of Park City Mountain Resort (“Park City”) in September 2014.
  • The Company’s Board of Directors approved a 50% increase in the quarterly cash dividend to $0.6225 per share from $0.4150 per share beginning with the dividend payable on April 15, 2015 to stockholders of record as of March 31, 2015.
  • The Company intends to refinance the remaining $215.0 million of its 6.50% Senior Subordinated Notes due 2019 (“6.50% Notes”) and the aggregate $41.2 million of the 6.95% Eagle County Bonds with a $250.0 million term loan under its existing senior credit facility, which we expect will result in approximately $12 million in pre-tax annual interest savings at current rates.

To view full second quarter financial results please visit:http://investors.vailresorts.com/releasedetail.cfm?ReleaseID=901272