07:50 AM EDT, 09/24/2024 (MT Newswires) -- (Updates with Vail Resorts' ( MTN ) response in the fourth paragraph and latest stock movement in the sixth paragraph.)

Vail Resorts ( MTN ) is looking to acquire more Alpine ski stations in Europe to hedge against climate risks, Bloomberg reported over the weekend, citing Chief Executive Kirsten Lynch.

Lynch aims to replicate the company's strategy for North America, where it operates over 30 resorts, in western Europe's highest mountain regions, the report said, adding such a geographic diversity would provide balance in the face of global warming.

"When one geography is really having a tough season, inevitably we have other geographies that are having a big season and so we can balance it out," Bloomberg quoted Lynch as saying. "Geographic diversity helps with stability in the face of climate change."

"Entering the European ski market has been a long-term strategic priority for Vail Resorts ( MTN ). Vail Resorts ( MTN ) takes a disciplined approach to mountain resort acquisitions, and we look for resorts that are complementary to our existing network, and not duplicative, in terms of experience and location," a company spokesperson told MT Newswires.

Vail Resorts ( MTN ) shares were up 0.6% in recent Tuesday premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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