I am trying to come up with a fair valuation for Vail Resorts, and I am stuck on the value of the property. The Land is on the books at cost. It should not have been depreciated, but it should not be revalued on the balance sheet. Since Vail bought most of the land years ago, it must have appreciated. Does anyone have a total acreage that Vail owns and a rough price per acre that developed land in CO is worth? I think that this stock is really undervalued, but I can't prove it.Long on MTN.
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