Vail Resorts’ CEO gets $3.36M
VAIL, Colorado ” Rob Katz, CEO of Vail Resorts, earned $3.36 million in the last fiscal year, the company said Thursday in a filing with the Securities and Exchange Commission.
The yearly compensation is down from the 2007 fiscal year, when Katz got $3.53 million.
Katz’s take for 2008 includes $835,414 in salary, plus stock, stock options, bonuses and other benefits. He gets a perks fund of $70,000 a year to be used at the company’s resorts.
The 41-year-old Katz, who lives in Boulder, was named CEO in February 2006. Previously, Katz had been a partner with Apollo Partners, which took control of Vail Associates in 1992.
Earlier this month, the company also agreed to pay Katz $4.8 million in stock-related compensation if he stays for another three years, as a retention tool.
Katz can get up to $3.59 million in compensation if he quits or is fired, the filing says.
John Garnsey, the co-president of Vail Resorts’ Mountain Division and chief operating officer of Beaver Creek, earned $766,996 in compensation last year, including $336,171 in salary, according to Thursday’s filing.
Lift operators get paid $6.32 or $6.85 an hour, according to a Vail Resorts filing with the U.S. Department of Labor in 2007 in which it sought to obtain H-2B visas. Pay for ski instructors was proposed at $9.06 to $18.05 an hour that year.
Katz was in Vail this week, saying that advance hotel bookings are down significantly and the company expects to make less money this year.
“There will be less people coming, and even those coming will spend less, even on the higher end,” Katz said Tuesday.
Vail Resorts did not return a phone call seeking comment for this article.
Staff Writer Edward Stoner can be reached at 970-748-2929 or email@example.com.
Support Local Journalism
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User