Vail Resorts Strike Reflects Labor Cost Concerns for Hospitality Industry -- Market Talk

Dow Jones01-03

1422 ET - Vail Resorts is sharply lower as a strike over wages at its Park City, Utah, resort curbs operations. The strike began December 27 and is over wage and benefits, which the ski patrol union says need to increase, particularly for longer-tenured employees. Negotiations are ongoing, as the resort is relying on about a third of its usual staff size to operate, a union spokesperson tells WSJ. Labor costs are narrowing hospitality firms' profits, as inflation drives up the cost of living, especially in ski towns, Jefferies analyst David Katz tells WSJ. Vail Resorts slides 5.4% to $177.27. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

January 02, 2025 14:22 ET (19:22 GMT)

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