The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Brandt Antoine Montour - JPMorgan Chase & Co, Research Division - Analyst
: I wanted to start with your new pass-holders that maybe you've learned a little bit more about in these last couple of months. Where
are they coming from in terms of their history in skiings, do you think any of them are new skiers? A lot of them are probably pulled
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MARCH 11, 2021 / 10:00PM, MTN.N - Q2 2021 Vail Resorts Inc Earnings Call
forward or pulled over from buying tickets at the window prior to this, but maybe you could give us some or learnings from that
data set now.
Question: Brandt Antoine Montour - JPMorgan Chase & Co, Research Division - Analyst
: Okay. That's really helpful. And then my follow-up question is really sort of how you think about pricing heading into a period of
potentially extreme pent-up travel demand where your product focuses on its value proposition, but we could be entering a period
where your core customer maybe is going to pay a lot more for their vacation than they may have in a long while. So yes, I know
you haven't rolled out the official pass price, but just how are you thinking about pricing in general, even on ancillary?
Question: Paul Alexander Golding - Macquarie Research - Analyst
: I think the first thing I wanted to ask was around just following on to David's question around acquisitions. Has the pandemic and
sort of varying degrees of lockdown and just pickup of international visit. Has that change your perspective around what regions
make most sense for acquisitions right now? And then I have a follow-up around cost.
Question: Paul Alexander Golding - Macquarie Research - Analyst
: Great. Around labor costs, I guess I'm trying to see if I can still tease out some of what might be extrapolated for next quarter or next
year on the cost side. From labor, are you saying -- is the environment is the supply of seasonal labor impacted by the international
restrictions? Is that driving cost up? Or are you seeing other leisure businesses have slack in their labor demand create a favorable
labor environment for you?
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MARCH 11, 2021 / 10:00PM, MTN.N - Q2 2021 Vail Resorts Inc Earnings Call
Question: Alexander Rocco Maroccia - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: I have 2 more near-term focused ones. But the first on the timing of Easter, we do have an earlier Easter this year versus the last good
comparable period in 2019. How much has an early Easter weekend moved the needle in the past, especially at more snowmaking
heavy resorts that might be closed in mid-April?
Question: Alexander Rocco Maroccia - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Got you. That's helpful. And then the second one is on the Vermont resorts. It's only been 2 weeks, and it's getting late in the season,
but can you give us a sense of how the lack of quarantine for vaccinated folks has benefited out-of-state visitation recently?
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MARCH 11, 2021 / 10:00PM, MTN.N - Q2 2021 Vail Resorts Inc Earnings Call
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