Season-pass sales for Vail Resorts Inc. (NYSE: MTN) are up 10 percent over last year’s record figures, thanks largely to the company’s late 2016 acquisition of Canadian super-resort Whistler Blackcomb.
Revenues from the new resort helped to boost all mountain divisions of the Broomfield-based company by more than 20 percent, but income from those areas rose for the three-month period ending April 30 even without the new ski area. As a result, quarterly net income for Vail Resorts rose 14.9 percent to $181.1 million, while earnings per diluted share rose 4 percent to $4.40.
Vail CEO Rob Katz said Thursday that he is excited about the boost in pass sales, which came particularly from the Pacific Northwest and Northern California markets closest to British Columbia. Those are up 10 percent in units as compared to the same time last year, and 16 percent in dollars.
Vail on Wednesday closed its purchase of Stowe Mountain Resort in Vermont, an acquisition that Katz said gives the company a running boost to season-pass sales that tend to sag from the late spring into the summer.
Read more at the Denver Business Journal: http://bit.ly/2rGIVA9