Lift-ticket revenues down slightly for Vail Resorts
May 1, 2012
BROOMFIELD, Colorado – Vail Resorts said Tuesday that lift-ticket revenue at its ski resorts this season compared to last year was down 0.3 percent while skier visits were down 12.6 percent.
Skier visits for Vail Resorts’ Colorado ski areas – Vail, Beaver Creek, Breckenridge and Keystone – were down 8.9 percent, the company said in a press release.
The numbers include business from the start of the ski season through April 22, and do not include recently acquired Kirkwood Mountain Resort. Vail Resorts also owns Heavenly and Northstar at Lake Tahoe.
Revenue from ski school was up 0.3 percent while revenue from dining was down 4.0 percent and revenue from retail and rental was down 0.3 percent.
Total season-to-date revenue per skier visit from ski school, dining and retail-rental increased 13.4 percent compared to the previous season.
“This was one of the most challenging weather seasons in the history of the United States ski industry marked by historically low snowfall and one of the mildest winters on record,” said CEO Rob Katz. “These highly unprecedented weather patterns extended over much of the season including the key Christmas, Spring Break and Easter periods, adversely impacting terrain.”
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Katz said the company’s performance highlights the strength of its season pass programs as well as its snowmaking and grooming operations. He added that the company predicts its EBITDA (earnings before interest, taxes, debt and amortization) for the fiscal year to fall slightly below the low end of its “guidance” range issued March 6.
Season pass sales this spring have been strong and will be better than last year’s spring sales, Katz said.
“This is particularly heartening considering the record high season pass sales we reported in spring 2011,” Katz said. “This creates early momentum for next year and reflects the loyalty and commitment we have from our customer base and their confidence that we will again deliver an exceptional experience in the coming ski season.”