Hedge fund nominates two Park City skiers in Vail Resorts proxy fight

Oasis Management now holds 9.6% of the company that owns Park City Mountain, up from 6.2% last month.

PARK CITY, Utah — Oasis Management now holds 9.6% of Vail Resorts (NYSE: MTN), up from the 6.2% it disclosed a month ago, and on Tuesday, Oct. 13, it formally asked shareholders to elect four of its own candidates to the company’s board.

That makes it a proxy fight. Vail elects its entire board every year, and both sides will now send shareholders competing ballots. Oasis is asking investors to use its blue card rather than the white one Vail has said it will send, and it has hired a New York firm, Innisfree M&A Incorporated, to solicit votes.

Two of the four have Park City ties. Picabo Street won super-G gold at the 1998 Olympics and lives in town. Bryce Roberts, a venture capitalist whom Oasis describes as a longtime Park City resident and avid skier, and notes his co-founding the ski brand Igneous Skis. The other two are former Walt Disney Co. CEO Robert Chapek and Florida investor M. Ashton Hudson.

Oasis preliminary proxy statement (PREC14A), filed Oct. 13, 2026

Park City Mountain problems on a national scale.

The complaints in the filing will sound familiar to anyone who skis Park City Mountain. Oasis argues Vail’s guest experience has stagnated, citing long lines, overcrowding and escalating food prices (The $9 Hot Dog). It points to the ski patrol strike at Park City Mountain during the 2024-25 holiday season as evidence that labor disputes and strained relationships with mountain-town governments have, in its words, “damaged the company’s standing with guests, employees and local communities alike”.

Park City billionaire Matthew Prince, who has spent months urging Vail to sell him the resort, has made a similar complaint about Vail’s leadership. On The Storm Skiing Journal podcast, he laid out a scenario in which Vail sells him Park City Mountain, he spends $500 million upgrading it, the resort keeps accepting the Epic Pass, and a gondola links it to Solitude and Alta. He said folks like CEO Rob Katz will not even engage in that conversation, calling it “a hallmark of what bad management looks like.” Prince said he has the plan and the financing lined up to do it himself.

Oasis says it wants Vail to offer pass and ticket products that raise the ceiling and lower the floor on price and access, improve food and beverage at every price point, modernize its marketing and technology, and make year-round use of its mountains.

Does Oasis plan on selling Park City Mountain?

In its September filing, Oasis said it might explore or propose a review or sale of Vail or some of its resorts. Tuesday’s filing contains no such language, Prince is not mentioned anywhere in the filing. The case Oasis is making to shareholders now is about changing how the company is run, not selling it off.

Oasis also acknowledges that if all four of its candidates win, they would be a minority on the nine-member board.

The numbers Oasis cites

The filing says Vail’s net income fell about 47% in the fiscal year that ended July 31, and that pass sales for the coming season were down about 12% through mid-September. Oasis also says skier visits across North America rose 3% in the 2024-25 season while visits to Vail’s North American resorts fell 3%.

When the vote happens

Vail typically holds its annual meeting in early December, most recently on Dec. 9, 2025. This year’s date has not been announced. Results are usually announced at the meeting.

No longer a silent shareholder, Oasis goes activist on Vail Resorts as Prince waits in the wings