Vail CEO pledges $2.5M donation to mountain towns
BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) CEO Rob Katz pledged Monday to donate $2.5 million to provide immediate support for both Vail Resorts employees and the mountain towns where the company operates, according to a Vail news release.
Of that total, $1.5 million will go toward emergency relief grants for local critical service organizations in locations such as Eagle, Summit and Gunnison counties.
The remaining $1 million will be used to create the Vail Resorts’ Epic Promise Employee Foundation, which aims to support workers during setbacks and medical crises such as COVID-19.
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“I cannot recall another moment in my lifetime that has caused so much disruption to our lives — to our work, to our health and to our communities,” Katz said in a prepared statement. “Throughout this incredibly challenging time, two of our absolute priorities have been, and will continue to be, the health and wellbeing of our employees and mountain communities. What makes our resorts so special is where they’re located and the passionate people who live there. As we navigate this situation, it’s essential we continue to support our employees and the vitality of our communities, providing partnership when it’s needed most.”
COVID-19 has already taken quite a toll on Vail, which closed all of its North American resorts this month. The firm estimates the coronavirus crisis could cost upward of $200 million in lost revenue.
