F Vail

It's inevitable that they're going to start throwing some of those Peak resorts they bought pre Covid over the side. Somebody will probably buy Hunter, but, some of the others? Don't think so.
 
Since 2022, they've actually been investing in several of the Peak resorts. JFBB replaced and consolidated several old lifts. Attitash replaced their 3 worst lifts with 2 better ones. Mount Snow got two new detachables. Now Hunter is getting 2 new lifts. Vail Resorts has never sold a ski area.
 
They need to maintain a presence in the "feeder" markets for Epic to remain a competitive pass. Dumping Wildcat or Attitash would be way more likely than Hunter IMO. They could sell off two of their New Hampshire mountains and still maintain enough geographic coverage to remain competitive in the North East market. I still feel very strongly that their whole selling proposition for the Mid Atlantic or North East pass holder is being the best deal for that once annual trip out west and a few weekends or day trips in driving distance. If that kind of geographic coverage wasn't important to them I feel that they would be down to just Mount Snow and Stowe here in the east.
 
Yup. Just a few strategically placed. Yeah, Hunter is probably never going. But, logistically, some of the smaller areas just have to be a pain in the ass and unprofitable.
 
The more shares they buy back, the less they reinvest in the resorts. Not a sustainable cycle.
Doesn't need to be sustainable. All the executives want to do is make the shareholders happy long enough until they make their exit and get a giant bag of cash. They are in the stock business now, not the snow business.
 
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