Furloughs mount at Vail Resorts properties
BROOMFIELD — A month after Vail Resorts Inc. (NYSE: MTN) informed Colorado regulators of nearly 2,000 layoffs at more than a dozen properties, the Broomfield-based ski area operator will furlough more than 300 additional jobs.
The new furloughs, and their corresponding WARN Act notices, were reported Thursday by the Colorado Department of Labor and Employment.
WARN Act notices are generally required when a company with more than 100 employees has a mass layoff or closes.
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The layoff/furlough totals are now:
- Breckenridge Ski Resort, 105 employees.
- Vail/Beaver Creek Resort Properties, 83.
- Breckenridge SSBRK, 55.
- SSV Vail Mountain, 59.
- Colorado Ski & Golf, 143.
- Keystone Resort, 158.
- Keystone Conference Center, 100.
- Keystone Lodging, 242.
- Vail Mountain, 208.
- Beaver Creek Resort, 323.
- Colorado Mountain Express, 211.
- Bicycle Village, 62.
- Vail Beaver Creek Resort Properties, 79.
- Arrabelle at Vail Square, 99.
- The Lodge at Vail, 101.
- Vail Marriott Mountain Resort, 250.
Vail did not disclose what specific job-types would be eliminated.
Last month, Vail CEO Rob Katz announced the firm would furlough most North American hourly employees, cut pay for salaried workers, reduce capital expenditures and suspend quarterly dividend payments as a result of early resort closures caused by the coronavirus outbreak.
A week ago, the Vail announced a $600-million private offering aimed at providing the ski area operator enough liquidity to maneuver over the next two years despite the COVID-19-related early closure of its North American resorts.
