On March 17, Vail Resorts Inc. announced the closure of its ski resorts, costing the resort up to $200 million, according to Vail CEO Rob Katz.

“Given the closure of our operations as a result of COVID-19, we anticipate that our operating results for March and April will have a negative impact of $180 million to $200 million compared to the resort reported EBITDA expectation we had as of March 1, 2020,”

Vail CEO Rob Katz

Vail considered reopening Breckenridge, the Heavenly Mountain Resort in California and Whistler Blackcomb in Canada in late April or early May. However, the reopening of those resorts wouldn't impact the fiscal year negatively or positively, according to Katz.

Vail’s resorts expect to be fully operational next ski season, but the coronavirus closures could have long-term financial damage on the business.

“While we entered this situation in a strong financial position, we believe the potentially challenging economic environment ahead requires us to review our previously announced calendar year 2020 capital plans and our plans for returning capital to shareholders and will provide updates on those plans as we finalize decisions,”

Vail CEO Rob Katz

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