Investing.com -- Cloudflare Inc (NYSE: NET) CEO Matthew Prince is escalating his public campaign against Vail Resorts Inc (NYSE: MTN) following a disappointing quarterly earnings report from the ski giant. The billionaire resident of Park City has signaled a continued interest in acquiring Park City Mountain Resort as Vail grapples with unseasonable warmth and middling stock performance.

The tension reached a boiling point after Vail reported weak second-quarter results attributed to historically low snowfall across the Rocky Mountains. Prince took to social media to criticize the company’s long-term stock performance and business model.

"Vail Resorts likely to open tomorrow down to where if you invested 10 years ago, you’d have done as well putting your money in a hole. It’s time for a change to become more asset-light, sell off resorts and allow character and differentiation to return to skiing," he urged on X Monday evening.

Prince’s vision for the mountain involves a pivot toward local ownership and a rejection of the "extraction" model he associates with current leadership. He argues that the community would benefit from a strategy that prioritizes infrastructure over corporate dividends.

"When I own Park City Mountain I’ll (obviously) not take any pay or dividend but, more importantly, create a profit sharing plan where 100% of annual profit goes back to employees and infrastructure upgrades," Prince said in October 2025.

The Cloudflare co-founder already holds a strategic foothold after purchasing the historic Town Lift Plaza at the base of the mountain last year. While he has previously approached Vail with a formal offer, the company’s leadership has repeatedly stated the asset is not for sale.

Market reaction to the latest earnings miss saw Vail’s stock (MTN) slide in after-hours and premarket trading. Though the stock traded 1.4% higher in Tuesday's session as some traders called a bottom, the long-term trend remains a point of interest for market observers, as the stock is down 11.6% since last year.

Significant hurdles remain for any activist maneuver given the concentrated ownership of Vail’s shares. Investor Ron Baron holds more than 13% of the company, providing a formidable defense against outside pressure campaigns. In a separate post on X, Prince said, "I have a saved voicemail where Ron tells me to go to hell."