Additional Coverage:
- Park City’s wealthiest guests are furious after $20,000 ski trips became a disaster, and now investors are bailing (newsbreak.com)
Vail Resorts Stock Plunges Amid Angry Vacationers
Vacationers at Park City Mountain faced long lift lines and closed slopes during the holidays due to a ski patroller strike. Vail Resorts, the parent company, struggled to maintain operations, leading to investor backlash. The company’s stock dropped over 6% this week.
Mountain Traffic Jams and Disgruntled Guests
Despite paying up to $20,000 for their ski vacations, guests encountered overcrowding and limited terrain. Many expressed frustration and demanded discounts. Vail Resorts acknowledged the issues but has not offered compensation.
Vail Resorts Stock Declines
Vail Resorts’ stock performance has been weak in recent years, facing criticism for overcrowding and rising prices. The Park City strike exacerbated these concerns, with investors questioning the company’s ability to provide a premium experience.
Ski Patrollers’ Demands
The strike stems from demands for higher wages and better benefits. Ski patrollers cite the rising cost of living and the risks they face on the job. Vail Resorts says it has increased wages significantly in recent years, but union representatives argue that these increases have been outpaced by inflation.
Negotiations Continue
Negotiations between Vail Resorts and the ski patrollers’ union resumed this week, but tensions remain high. The two sides are scheduled to meet again on Friday to continue discussions.