Vail Resorts Reports Fiscal 2021 Fourth Quarter and Full Year Results, Provides Fiscal 2022 Outlook, Announces Transformational Capital Plan and Declares Dividend
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Vail Resorts Reports Fiscal 2021 Fourth Quarter and Full Year Results, Provides Fiscal 2022 Outlook, Announces Transformational Capital Plan and Declares Dividend
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
BROOMFIELD, CO – Effective April 15, 2016, Vail Resorts, Inc subsidiary RockResorts will no longer manage Half Moon in Montego Bay, Jamaica.
BROOMFIELD, CO – Effective April 15, 2016, Vail Resorts, Inc subsidiary RockResorts will no longer manage Half Moon in Montego Bay, Jamaica. The owners of the property (Half Moon Bay, Ltd) and RockResorts have mutually agreed that based on ownership’s goals for the property and RockResorts’ focus on its mountain lodging properties, this is the right direction for both parties.
In connection with this agreement, Half Moon will repay Vail Resorts the amortized “key money” investment of approximately $4.5 million and will pay Vail Resorts a termination fee of approximately $3.5 million. The termination fee will be recorded in Resort Reported EBITDA in fiscal 2016, which was not incorporated into the Company’s most recent commentary on its Resort Reported EBITDA guidance. In fiscal 2015, Half Moon contributed approximately $600,000 o