OFFICIAL PRESS RELEASE - JULY 17, 2008 - The board of directors for Vail Resorts Inc. has increased the company’s common stock repurchase authorization by three million shares.
Shares of common stock purchased pursuant to the repurchase program will be held as treasury shares and may be used for the issuance of shares under the company’s employee stock plans.
Vail Resorts is now authorized to purchase up to 3.28 million shares, with 284,218 shares remaining under a share repurchase program approved by the company’s board on March 9, 2006. Since its third quarter earnings announcement on June 5, 2008, the company has repurchased 1.20 million shares at an average price of $39.40, under the 2006 program.
“Our Board took this action based upon our company’s continued strong financial condition and it reflects the board’s confidence in Vail Resorts’ growth potential,” said Robert Katz, chief executive officer of Vail Resorts.
Today Heavenly Mountain Resort announced this year’s recipients of the Heavenly Resort Community Scholarship Program. Five recent high school graduates will receive $4,000, bringing the resort’s overall commitment to the Heavenly Resort Community Scholarship Program to $120,000.
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Vail Resorts announced today that it has entered into an agreement with East West Resort Transportation Holdings to acquire the airport shuttle business, Colorado Mountain Express for about $40.5 million.
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CSCUSA announced that it will end its print/broadcast campaigns and has cut one-third of its staff in the wake of Vail Resorts’ pull out from the Colorado ski industry representative.
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Coors Brewing Company and Vail Resorts will be honored April 26 by the foundation for making conservation a priority and engaging the community in natural resource stewardship.
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Across the nation, ski resorts are closing up shop. Transworld Business was on the freak scene as Vail geared up to wind down.
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Your 2008-2009 Vail Resorts season pass is getting a high-tech makeover.
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Most skiers and snowboarders dream of
an ‘epic’ season. Now, Vail Resorts, Inc. (NYSE: MTN) is making that dream a reality with the Epic Season Pass, a new unlimited, unrestricted season pass that’s valid for the entire 2008-2009 ski and snowboard season at five of the top-rated resorts in the world: Vail, Beaver Creek, Breckenridge, Keystone and Heavenly, all for an initial price of only $579.
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