The 2017-2018 ski season isn't starting very well for Vail Resorts Inc.
The Broomfield ski resort operator (NYSE: MTN) said total skier visits to its North American ski resorts were down nearly 11 percent compared with a year earlier.
That's not all that's down this season: Vail said ski school revenue was down 4.5 percent, dining revenue was down 8.7 percent, and retail/rental revenue was down 11.5 percent compared with last season.
"The 2017/2018 ski season had a very challenging start ... In November and December, snowfall season to date in Vail, Beaver Creek and Park City was the lowest level recorded in over 30 years," said Rob Katz, CEO, in a statement.
Vail said that because of the current poor conditions, which are slowly improving, it's expecting financial results "modestly below the low end of the guidance range" it issued last month. If conditions don't improve, though, "there could be further downside below our guidance range," Katz said.
Read more at the Denver Business Journal: http://bit.ly/2qV9uTX
