March 18, 2020 / 9:02 PM / 2 months ago

UPDATE 1-Vail Resorts to shut North America properties due to virus outbreak

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March 18 (Reuters) - U.S. mountain resorts operator Vail Resorts Inc said on Wednesday it would suspend operations at all of its North American properties through the ski season due to the coronavirus outbreak.

The move will hurt its March and April profit by between $180 million and $200 million.

Vail, which gets more than 80% of its sales from the United States, operated 37 mountain resorts and urban ski areas globally. The company also has operations in Canada and Australia.

The company said it would consider reopening the Breckenridge Ski Resort in Colorado, Heavenly Mountain Resort in Lake Tahoe and Whistler Blackcomb in British Columbia in late April or early May, depending on the severity of the coronavirus spread.

“We expect that our results in the fourth quarter of fiscal 2020 will be negatively impacted by the current economic and travel environment, but we are not able to fully assess that impact at this time,” Chief Executive Officer Rob Katz said in a statement. (Reporting by Ankit Ajmera in Bengaluru; Editing by Maju Samuel)

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