x
Breaking News
More () »

Vail Resorts sees influx of day skiers but shortage of destination visitors early in season

There's no business like snow business, ya know?
Credit: Getty Images/iStock photo

DENVER — Increased snow drove more people to Vail Resorts (NYSE: MTN) ski hills in the early part of this season — though it hasn’t completely offset two years of disappointing December snowfall that made long-haul visitors leery of booking vacations there so far.

Vail Resorts CEO Rob Katz on Friday reported that visitation to the Broomfield-based company’s 15 non-urban U.S. and Canadian ski resorts was up 16.9 percent through Sunday compared to the same period last season. Lift-ticket revenue is up 12.2 percent in the time frame, while ancillary level improved as well — including a 14.8 percent boost in dining revenue and a 12 percent jump in rental/retail revenue.

The increased metrics come after two particularly dry starts to the season and reflect local enthusiasm in particular to the resorts spanning from British Columbia to New Hampshire. Vail operates five Colorado properties — Vail, Beaver Creek, Breckenridge, Keystone and Crested Butte.

However, Katz noted that destination guest visitation was lower than expected in the pre-Christmas period during December, especially at Whistler Blackcomb and the company’s three Tahoe-area resorts. That, he said, was driven by guests’ concerns over the poor conditions of the previous two years and will cause full-year resort-related EBITDA (earnings before interest, tax, depreciation and amortization) to fall below the low end of guidance for that segment of the business. 

Read more at the Denver Business Journal: https://bit.ly/2VL6Prp

Before You Leave, Check This Out