Vail Resorts says skier visits are up
Vail, CO Colorado
BROOMFIELD, Colorado – Vail Resorts reported some ski season results Thursday that show increased lift ticket revenues and skier visits during the 2010-11 ski season.
The data released Thursday is in advance of the company’s third-quarter earnings release, which should happen sometime in early June.
“The 2010-2011 ski season has come to a close, and we are pleased with the ski season metrics across our six resorts.,” Chief Executive Officer Rob Katz said. “Our increased metrics held up despite very strong spring break/Easter metrics in the prior year and a very late Easter holiday in the current year. Consistent with our concerns, the timing of Easter did have a negative impact on our metrics for the period, but we should note that Easter next season will be at a much earlier and favorable date, April 8, 2012.”
The company reported an 8 percent increase in lift ticket revenue, 8.4 percent increase in ski school revenue, 9 percent increase in dining revenue and 8.3 percent increase in retail and rental revenue. The company also reported a 3.9 percent increase in skier visits. All numbers are adjusted to include Northstar-at-Tahoe, which the company acquired last October, as if the company owned Northstar during the 2009-10 season.
“It was especially good to see the rate of growth in lift ticket and ancillary revenue continue to outpace skier visits due to price increases across our lift ticket and season pass products, together with increased spending per visit,” Katz said.
Had Northstar-at-Tahoe been excluded for both periods, the results would have been similar to those reported, the company said.