...Vail Resorts, Inc. (NYSC: MTN) June 22, 2014 Securities Analysis Vail Resorts, Inc. (MTN) Company Background (Life Cycle Analysis) Vail Resorts, Inc. is a Premium Luxury Resort company that resides around the mountains and their product would be the great outdoors. The outdoors activity is what brings people to the resort. Their mission statement is “Experience of a Life Time”. Vail Resorts, Inc. considers themselves to have 5 different stakeholders, first is the guest, second is their employees, third is the community, forth is nature and the environment and the fifth is the shareholders. All 5 stakeholders are very important to Vail Resorts, Inc. and are part of every thought when growing the company. The foundation of the company was established in the mid 1950’s by some skiers (Pete Seibert and Earl Eaton) that had a dream to build a ski resort like no other. Vail Resorts, Inc. falls into three different areas which are the mountain, lodging, and real estate. The company is known for their mountain resorts which is Vail, Beaver Creek, Breckenridge and Keystone that is in Colorado; Heavenly, North star and Kirkwood in the Lake Tahoe area in California and Nevada; Canyons in Park City; Afton Alps in Minnesota and Mt. Brighton in Michigan. Vail Resorts, Inc. Hospitality which is the lodging division that owns and operates hotels, condos and private residences located in the area. The lodging division of the company includes five Rock Resorts luxury hotels...
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...1997 Steamboat Ski & Resort Corporation As Charlie Mayfield, vice president of Marketing for Steamboat Ski & Resort Corporation (SSRC) in Steamboat Springs, Colorado, looked out of bis office and saw the lines at the ticket windows on a warm, sunny day in March 1993, he smiled to himself. SSRCwas having its best year ever and had maintained its position as one of the premier North American ski resorts. SSRCwas not, however, immune to the difficulties faced by the ski industry. First, Mayfield was concerned about the trend among customers of coming to Steamboat and other ski resorts and spending fewer of their vacation days skiing on the mountain, preferring instead to participate in other wintertime activities such as snowmobiling. Second, while skier days1 had continued to increase in Colorado over the last several years, the number of skier days in the entire United States had actually decreased. Furthermore, Steamboat's share of the Colorado skier market had steadily decreased since 1990. FinaIly, Mayfield was concerned about Steamboat's low percentage, relative to other resorts, of visitors who intended to make a repeat visit to the resort. In the 1991-92season, the percentage of Steamboat destination skiers intending to make a repeat visit to Steamboat declined to 55%; other resorts, such as the group of Disney Resorts, claimed as high as a 90% repeat visit rate. These trends, combined with Steamboat management's belief that the average length of a ski vacation at Steamboat...
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...retention and the Steamboat Ski Resort Michael D. Gumbiner University of Nevada, Las Vegas Follow this and additional works at: http://digitalscholarship.unlv.edu/thesesdissertations Part of the Hospitality Administration and Management Commons, and the Work, Economy and Organizations Commons Repository Citation Gumbiner, Michael D., "Manager retention and the Steamboat Ski Resort" (2007). UNLV Theses/Dissertations/Professional Papers/ Capstones. Paper 481. This Professional Paper is brought to you for free and open access by Digital Scholarship@UNLV. It has been accepted for inclusion in UNLV Theses/ Dissertations/Professional Papers/Capstones by an authorized administrator of Digital Scholarship@UNLV. For more information, please contact marianne.buehler@unlv.edu. MANAGER RETENTION AND THE STEAMBOAT SKI RESORT by Michael D. Gumbiner Bachelor of Arts California State University Fullerton 1987 A professional paper submitted in partial fulfillment of the requirements for the Master of Hospitality Administration William F. Harrah College of Hotel Administration Graduate College University of Nevada, Las Vegas May 2007 1 PART ONE Introduction The material for this paper centers on the Steamboat Ski Resort Corp. The ski resort was chosen for this study because of its need for a management retention plan. Steamboat was ranked as a top 10 international ski resort in North America by Snow Country Magazine (“Top 50 ski resorts,” 1997). It has maintained...
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...investment plan for Eagle’s Nest Hotels Inc., prepared by the following staffs: Weng Hong Hoh, Kang Yi, Nicklas Ivarsson and Moneeb Aziz. We would like to take this opportunity to thank for all the guidance throughout this project. This proposal contains plenty of information and ideas that we thought are suitable for the company’s strategy. The preferred option for investment, namely Aurora Resorts in Scandinavia Peninsula, has been offered for the consideration of the board and a detailed plan for implementation has attached. We will be looking forward to discuss the plan after you had reviewed our proposal. As always, please do not hesitate to call us or drop us an email if you have any enquiries or if we can be of further assistance. Thank you for your time and attention. Sincerely, Syndicate Group 1, Tutorial 10 – 11, Tuesday. Table of Contents Description | Pages | 1.0 Executive Summary | 4 | 2.0 Introduction 3.1 Background | 55 | 3.0 Investment Ideas 3.1 Eagle Nest Resorts & Spa in South East Asia 3.2 Aurora Resort in Iceland with spa 3.3 Castle by Eagle Nest with wine yard | 6789 | 4.0 Cost and Benefits 4.1 Cost/Income Statements | 1011-12 | 5.0 Recommended Idea | 13 | 6.0 Project Plan 6.1 Financial Evaluation 6.2 Timescales | 141515 | 7.0 Conclusion | 16 | 1.0 Executive Summary This proposal provides suggestions of investment ideas...
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...Drowling Mountain Resort Situation Drowling Mountain is a community resort, situated 45minutes away from Syracuse, New York, one of the larger cities in New York, with a population of 145,170 people in 2010. Drowling Mountain was also located near some surrounding communities in Onondaga County, which has a population of 321,830 people. Drowling Mountain offers snow related activities such as snowboarding and skiing, along with operating a full service chalet, which has equipment rentals, food and beverage for sale, ski instructions and lodging rentals available for overnight guests. Drowling Mountain has a close connection with the city of Syracuse and its local businesses, however, over the past couple of years, Drowling has been struggling to cover its fixed assets and operational costs, which is a reflection of their lower top-line revenue sources. Being a community resort, they find themselves competing against the other 34 resorts inside the state of New York and they need to establish some points of differentiation, “only here” type of activities and services that would make them unique and sustainable against the other rivaling resorts in the state. Objective Drowling Mountain needs to develop a new marketing plan, which is focused on top ling growth for the company. Increasing sales and having new pricing schemes would be very beneficial for the company, as they attempt to lower their financial debt and increase their cash flow on hand. Analysis Environment: ...
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...Strengths * Very good brand image as one of the premier ski resorts in North America * Strong marketing with innovative ideas which later become norms in the ski industry * Very good infrastructure in their ski resort in terms of skiing activities even when compared to rivals * Good backing of parent company who wants SSRC to become ‘number one’ * Good deals struck with airlines | Weaknesses * Inferior quality lodging arrangements * Could not target upscale corporations due to lower level image then Aspen & Vail Beaver Creek * Accommodation not enough to satisfy demand, losing out opportunity cost * Customer satisfaction not up to par with what KIC their owners would like * Conservative owners who do not like very radical changes in their operating system or capital expenditures | Opportunities * Expand summer activities to increase revenue * Denver International Airport opening soon would do wonders for their business if the right marketing moves are taken * Upgrading their own lodging arrangements would make them capable of reaching more chic markets * Marketing expenses should be increased to not only reach American markets but more focus on International markets as well * Use celebrity ploys like other ski resorts to attract new customers, use their resort as movie shooting locations which would provide not only more revenue but would grant free advertising worldwide * Some very good alternatives to pursue thanks to their VP of Marketing,...
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...SKI RESORTS IN THE USA CASE STUDY Table of Contents: 1. Abstract…………………………………………………………………..3 2. Question 1: What are the most important changes in the environment that have contributed to the drop in revenues?..................................................4 3. Question 2: Why is management a more important success factor for ski resorts now, compared to 20-30 years ago?................................................5 4. Question 3: How is competitive environment of the resorts on the east coast different from that in Colorado? What should the east coast resorts pay particular attention to?..........................................................................7 5. Question 4: Possible changes in the environment in the near future…….8 6. Conclusion………………………………………………………………..9 7. List of References…………………………….…………………………10 Abstract The following paper discuss factors that have lead to changing business environment and its’ impact on ski tourism industry, concentrating especially of the ski resort performance and changes that must take place in order for this business to survive and continue its’ operation on its’ highest level. First and foremost, the economic, political and environmental factors that have been changing in the previous years have lead to the decrease in revenues of the ski resorts that have been taking place since the 1970s. Further on, the management of ski resorts and ski centers must adapt to the above...
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...Park Operations; court of appeals of Colorado, case was decided on February 13, 2014. Facts: Christopher H. Norris was killed by an avalanche while skiing at Winter Park Resort. Wife and Salynda E Fleury sued the defendant, Intrawest Winter Park Operations. Ruling was that an avalanche is an inherent danger or risk of skiing and therefore Intrawest cannot be liable for Norris’s death. Rationale: Intrawest cannot be forced with any liability because they themselves did not cause the avalanche. This will make the party who was taking part of the activity (Norris) responsible. By Norris going skiing he is assuming the risk of a potential risk because skiing can be hazardous and dangerous. Blogger’s reaction: Blogger agrees and affirms that an avalanche fits the definition of inherent dangers and risks of skiing. Those dangers or conditions are part of the sport of skiing. The Ski Safety Act does not require ski area operations to warn skiers of possible avalanches or to close slopes with avalanche danger. My thoughts: Ski Resort is not liable; while it was unfortunate he died he assumed the risk of skiing by choosing to do so. Also it was not required for resort to post warning signs of avalanches. The resort should not be liable for anything. However; the Ski Safety Act should be revised and requiring ski operations to warn about possible avalanches. Case #2: Moore vs. Minnesota Baseball Instructional School, 2009; court of appeals Minnesota, case filed March 31, 2009...
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...SKI RESORTS IN THE USA CASE STUDY [pic] TABLE OF CONTENTS: 1. Abstract……………………………………………………………………...3 3. Question 1…………………….……………………………………………4-6 4. Question 2……………….…………………………………………………6-8 5. Question 3…………………….……………………………………………8-9 6. Question 4….…………………………………….…………………..……9-10 7. Conclution…..………….………………………………………………….…10 8. References……..………………………………………………………….11-12 Abstract This case study focuses on the problem of how management is becoming more and more important in many different fields of life. In this case, how good management can contribute to ski resorts. It observes and answers to the four important questions: In the first part it is explained what are the mainly changes in the business environment that have occurred 30 years ago, and how they effected ski resorts. The next part shows why management becomes more and more important for the survival and success of the ski resorts comparing it to 30 years ago. How competition from Europe has influenced ski resorts in the USA, and the discussion about the competition between the Colorado resorts and the other resorts from the east is made. In the last part the focus is on the predictions in the future, how will environment and future of the ski resorts change. Question 1: What are the most important changes in the environment that have contributed to the drop in revenues? From the period of 1970’s...
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...| Steamboat Ski & Resort Corporation | Analysis | [Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.] | Strengths * Very good brand image as one of the premier ski resorts in North America * Strong marketing with innovative ideas which later become norms in the ski industry * Very good infrastructure in their ski resort in terms of skiing activities even when compared to rivals * Good backing of parent company who wants SSRC to become ‘number one’ * Good deals struck with airlines | Weaknesses * Inferior quality lodging arrangements * Could not target upscale corporations due to lower level image then Aspen & Vail Beaver Creek * Accommodation not enough to satisfy demand, losing out opportunity cost * Customer satisfaction not up to par with what KIC their owners would like * Conservative owners who do not like very radical changes in their operating system or capital expenditures | Opportunities * Expand summer activities to increase revenue * Denver International Airport opening soon would do wonders for their business if the right marketing moves are taken * Upgrading their own lodging arrangements would make them capable of reaching more chic markets * Marketing expenses should be increased to not only reach American markets but more focus on International...
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...Olmedo, Asucina T. BSA 1I Case Study: Halina Mountain Resort (B) Time Context September 1981 Abstract Halina Mountain Resort, a family owned business, had been picking up during 1980 though it suffered a net loss of P335, 499.69 as shown in the financial performance of Blue Heights Realty and Development Corporation. Halina Mountain Resort is manage by Jun Herrera, son of the owner Victor Herrera together with his cousin Benjamin Estacio that acts as resort manager. Majority of the 32 permanent personnel are relatives of Herrera which reside in Calamba or in nearby towns. The family as a whole had been working together, thus creating a good team for the business. Halina Mountain Resort is in a good location, has first class facilities, observed cleanliness and has a cohesive personnel that make them outstanding and competitive among other resorts. Not all months of the year have the same operation level, during June, July and August are the low level, September, November, January, and February are in normal operation, while the peak season are the month of March, April, May, October, and December. I. STATEMENT OF THE OBJECTIVE 1. Short-range Objectives: To ensure Halina’s continuous growth and increased popularity. To make up for the decreased income during “low months”. 2. Long-range Objectives: To be able to sustain Halina Mountain Resort’s growth even if it is no longer new to the public. II. CENTRAL PROBLEM How...
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...Green Mountain Resort Case Study HRMG314 – Managing Organizational Change Green mountain resort was a small resort that was not expected to be in business very long. The resort manager had other plans, as part owner he had visions of making Green Mountain Resort a first-class resort. The issue he faced with achieving his vision was the resorts turnover problem. He had tried many different strategies to reduce turnover including focusing on streamline training, simplify jobs, don’t become dependent on individuals, and making HR processes more efficient (Palmer, Dunford, & Akin, 2009, p. 40). Despite his efforts his turnover problem still existed, he would lose the best service people and be left with the poorest performers. Gunter held the director image when managing turnover. Since he was the manager and part owner he was directing the organization in a particular way hoping to change the outcome of the turnover (Palmer, Dunford, & Akin, 2009, p.27). The hospitality literature took on the image of a coach. This literature was used to try and shape the organization to be successful (Palmer, Dunford, & Akin, 2009, p.30). The focus was highlighting the training and management development showcasing their capabilities. The consultant took on the role as an interpreter. The consultant listened to the problem and the previous attempts to fix the problem and was able to assist with making sense of the outcome and refocus Gunter...
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...Institute predicts a 1% drop in overnight stays this coming summer by virtue of the Swiss franc. Tourism chief Schmid doesn't appear to be excessively stressed. "In the event that you can't be less expensive, you must be better. We need to live with the Swiss franc, which has been a solid coin for as long as 50 years. Individuals who visit Switzerland realize this is not a deal. They realize that Switzerland has a cost, however they expect top quality. We truly concentrate on expanding the nature of the experience," Schmid said. Rory Byrne of extravagance visit administrator Powder Byrne in Grindelwald says Switzerland is a simple destination to offer. As he told swissinfo.ch, his clients know it is less expensive to orchestrate their own ski occasions, however they're willing to pay a premium for his organization to do it. "I was amazed this winter we didn't have any customer specify how costly Switzerland was. Particularly amid February, which is our top month. Be that as it may, no, individuals just got on with it – purchased their Swiss francs, paid on their Mastercards and went home." Regarding quality, Byrne has seen improvement in Switzerland in the course of recent decades. "Switzerland has truly enhanced its "product" in the course of recent years. Indeed, even 25 or 20 years back, the Swiss administration was known as sharp, and wasn't as cordial – famously – as the Austrians. I imagine that is changed a ton in Switzerland – it's gotten to be friendlier. The staff...
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...GOLD MOUNTAIN SKI RESORT You work for a venture firm and have been asked to analyze a proposal from a group of investors interested in building a new ski area in Colorado. The demand for skiing is growing and existing resorts have raised prices and reported record profits for the last two seasons. Gold Mountain’s business strategy is to offer the ultimate ski experience; short lift lines, uncongested ski slopes, and spectacular scenery. With a 2,500 foot vertical drop, 10 trails, and one triple (three person) ski lift, it can provide a very uncongested ski resort. The planned triple-person lift delivers a chair every 20 seconds, 180 chairs per hour (3 chairs per minute, 60 minutes per hour), or 540 skiers per hour (180 chairs per hour, 3 skiers per chair). This puts an average of only 54 skiers per hour on each of the 10 trails. Some trails will be more popular than others, but this average number of skiers per trail per hour is still below the industry average. The cost to build the ski runs, parking lots, and buildings and to erect the chair lift is $52M. To raise this amount of capital requires an annual financing cost (debt service & dividends) of $8.3M. The annual fixed operating cost (land lease, utilities, labor, taxes, and insurance) of the ski resort is projected to be $4.1M. For each 100 skiers per day, additional employees must be hired to staff the ticket office, ski patrol, parking lots, etc. The daily cost of the additional labor is $200 per 100 skiers per day...
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...organizational manager of Green Mountain Resort, contemplated over various issues that were hindering the growth process of his employee’s high turnover problem. As the developers begin planning the implementation of the facilities, the developers did not predict or foresee Green Mountain Resort staying in business for a long time (Palmer, Dunford & Akin, 2009). In the beginning Mr. Gunter was taking more of an image of change as a Director as he identified turnover as a problem and attempted to problem solve around this issue. As the story progressed Mr. Gunter also became a mentor for began to change with the help of the consultant to more of a Coaching role as his resort became the training ground that other resorts looked for when hiring associates. He also became a mentor for others who were seeking training in providing excellent service in the hospitality industry The hospitality literature: The literature played a role of navigator as it identified turnover as a chronic problem that the industry endures and made several suggestions on how one can help reduce the effects The consultant: In taking the role as the interpreter, the consultant interpreted the problem of turnover to Gunter and was able to change his perspective in a manner which actually helped solve the problem. Gunter now looked at turnover as a good thing because of image the resort had in the hospitality industry as a great place to get training for the bigger resorts. This was a great example of turning...
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