In spite of a turbulent year, Vail Resorts is still looking to grow its already large number of properties. In an episode from last week of Squak Box on CNBC, Kirsten Lynch, the CEO of Vail Resorts, along with Ron Baron of Baron Capital and Mark Hoplamazian of Hyatt Hotels were interviewed to discuss various topics.
With the skier market being nearly three times larger than the North American one where Vail Resorts is centered, they believe more mountains will lead to a rising number of Epic Pass holders.
They view the acquisition of Andermatt-Sedrun in Switzerland as a way to begin to grow their market share in Europe. They want to listen and learn before acquiring more mountains around the continent. Based on their recent experiences with struggling to adapt to local North American markets, this sounds like a good idea. Some of the other discussion topics include Vail’s stronger labor hiring process for this winter, employee housing, and the current global economic outlook.
The video with Kirsten Lynch is below.