I am an admitted snow junkie, and I like winter just as much as summer. When it rains in the Pacific Northwest, it means Mother Nature is dumping powder in the mountains. While winter still seems like a long time away, the year's snow accumulation will start in the Cascades as early as late October. While I am waiting for the first snow, I wanted to examine Vail Resorts (MTN) ("Vail" or "the Company"), which is the leading mountain resort operator in North America. Vail owns or has exclusive leases to 10 resorts in North America, including: Vail, Beaver Creek, Breckenridge, Keystone, Canyons, Heavenly, Northstar, Kirkwood, Afton Alps and Mt. Brighton.
Vail derives its revenues...
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