Shares of Vail Resorts Inc. MTN, -0.70% tumbled 9.2% toward a 21-month low in premarket trade Friday, after the ski resort operator said destination guest visitation was "much lower" than anticipated in the pre-holiday period. As a result of its pre-holiday miss, the company said it now expects full-year resort reported earning before interest, taxes, depreciation and amortization (EBITDA) to be "slightly below the low end" its previously provided guidance range of $718 million to $750 million. Chief Executive Rob Katz said he believes the weak pre-holiday visitation resulted from concerns from two prior years of poor pre-holiday conditions at U.S. resorts, and the lack of a pick up in short-term bookings as expected. Over the holiday, Katz said results were in line with expectations, expect at Whistler Blackcomb and the Tahoe resorts. Separately, the company reported season-to-date lift ticket revenue growth for North American mountain resorts of 12.2%, ski school revenue up 9.5% and total skier visits up 16.9%. The stock, on track to open at the lowest level seen during regular session hours since April 2017, has lost 10.4% over the past three months through Thursday, while the S&P 500 SPX, -0.19% has slipped 4.8%.