Activist investor Oasis Capital Management is considering a proxy contest against Vail Resorts to overhaul its board and push for the sale of its mountain properties.
- Oasis Capital Management has built a significant stake in Vail Resorts and is weighing a proxy campaign to shake up leadership.
- Cloudflare CEO Matthew Prince, a Park City resident who has publicly criticized Vail’s management, expressed a willingness to spend $500 million to acquire Park City Mountain Resort.
- While Prince publicly labeled Vail leadership as “incompetent capital allocators” on social media, Vail CEO Rob Katz dismissed the pressure.
Activist investor Oasis Capital Management is reportedly considering launching a proxy fight at Vail Resorts (MTN) to overhaul the company’s board of directors and force a sale of its mountain properties.
Among the likely buyers of Vail’s mountains would be Park City resident and billionaire Cloudflare CEO Matthew Prince, Semafor reported, citing people familiar with the matter. Prince, who’s said he wanted to purchase Park City Mountain Resort from Vail, has vocally disagreed with Vail CEO Rob Katz over the company’s relationships with local unions and Park City itself.
Oasis, recognized as one of the most aggressive activist investors in Asia, has steadily built up a substantial equity position in the ski resort operator, proxy records accessed by Semafor show. While the firm has engaged in preliminary discussions with Vail, it remains unclear if the threat of a formal proxy battle has been officially leveraged. Semafor reported that Oasis’ plans could pivot as deeper discussions with the company progress.
Cloudflare CEO View on Vail Resorts
Prince has been a vocal critic of Vail Resorts CEO Rob Katz, taking issue with how the company handles local municipalities and labor unions. Prince criticized current leadership publicly on X, writing that it is “inevitable that Vail management who have proven to be such incompetent capital allocators will change.”
Vail corporate leadership has pushed back against the outside pressure. In a May interview, Katz addressed Prince’s public interest by framing it as standard community enthusiasm. Katz noted that Vail caters to many affluent guests and community members with strong opinions, adding that while the company listens to feedback, it will not alter its corporate trajectory to appease single individuals.
Vail Resorts, Oasis Capital Management, and Prince did not immediately respond to Semafor’s requests for comment.
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