Shares of MTN have increased 5.1% in the past year period compared with the industry’s rise of 25%. The company is optimistic in this regard and anticipates the initiatives to drive growth in the upcoming periods. The My Epic Gear will offer name brand, high-quality ski and snowboard boots with customized insoles and boot fit scanning technology. Also, the company is set to introduce My Epic Gear for the 2024/2025 winter season. MTN plans to launch the My Epic app, offering features like Mobile Pass, mobile lift tickets, interactive trail maps, real-time and predictive lift line wait times, personalized statistics, My Epic Gear, and other pertinent information to enhance guest experience. Once loaded on their phones, guests can get scanned, hands-free, in the lift line using Bluetooth Low Energy technology. ![]() It stated plans to introduce new technology for the 2023/2024 North American ski season that allows guests to store their pass product or lift ticket directly on their phone, eliminating the need for carrying plastic cards, visiting the ticket window or waiting to receive a pass or lift ticket in the mail. The company focuses on technological enhancements to drive growth. ![]() Also, the company intends to expand parking spaces across Heavenly, Mount Sunapee, Liberty and Roundtop to improve guest experience. The company anticipates the projects to be completed in time for the 2023/2024 North American winter season. The plan includes the installation of new or replacement lifts at Keystone, Whistler Blackcomb, Stevens Pass and Attitash. For fiscal 2023, the company set aside $180-$185 million to increase lift capacity and enhance the guest experience. The company continues to reinvest in its resorts to boost customer traffic. This positive performance bodes well for Australian and North American winter destinations. The passes not only secure reservations for the upcoming winter season in Australia but also establish early commitments from Australian guests for North American ski resorts in the 2023/2024winter season. Season to date (through Jun 1, 2023), its Epic Australia Pass sales were up 16% on a year-over-year basis. The company has been witnessing solid demand with respect to the Australian Ski season. The company witnessed solid demand and visitation at its western North American resorts. Also, it stated benefits from an 8% price increase (relative to the 2022/2023 season). MTN reported strong unit growth related to its renewing pass holders in destination markets. In third-quarter fiscal 2023, the company stated that pass product sales increased 6% in units and 11% in sales dollars compared with the prior-year period’s levels. Vail Resorts’ season pass program reports solid growth for the 2023/2024 North American ski season. Let us discuss the factors that highlight why investors should retain the stock for now. However, increasing labor-related costs and weather-related woes are a concern. Also, focus on strategic investments and expansion bodes well. ![]() ( MTN Quick Quote MTN - Free Report) is likely to benefit from a robust season pass program and digital initiatives.
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