Vail Resorts just released their latest report on how the company is fairing, and while the Colorado resorts are booming, Vail's Tahoe properties are lagging behind. Much of the results are due to one thing: weather. Colorado has seen better snow this season (and last season), while snow at Heavenly Mountain Resort, Kirkwood Mountain Resort, and Northstar California has been in short supply. Overall, however, after a big year in which Vail spent $182.5 million to buy Park City Mountain Resort, things are looking good for the ski industry's biggest player.
According to their report, Vail Resorts saw both increased visitation and increased revenue at their destination mountains. The results are provided for the comparative periods from the beginning of the ski season through January 11, 2015, and for the prior year period through January 12, 2014, adjusted as if Park City Mountain Resorts was owned in both periods, and do not incorporate the urban ski areas of Afton Alps (Minn.) and Mt. Brighton (Mich.).
· Season-to-date total skier visits for all 9 mountain resorts were up 1.8% compared to the prior year season-to-date period.
· Season-to-date total lift ticket revenue was up 9.3%
· Season-to-date ancillary spending also increased, with ski school revenue up 9.2% and dining revenue up 6.8%
· Retail/rental revenue for resort store locations was up 10.4%
The reports also released the following comments from Rob Katz, the Chief Executive Officer of Vail Resorts.
"We are very pleased with our company-wide results season-to-date, which are consistent with our original expectations," said Rob Katz, Chief Executive Officer. "Our Colorado resorts had particularly strong results with very strong destination visitation and consistent conditions. While Utah had a slower start to the holiday period, we saw very good momentum in the week following Christmas, with strong visitation at both resorts.
"Unfortunately, early season conditions in Tahoe proved challenging again this year, leading to lower growth from our Tahoe resorts than anticipated," Katz added. "Most importantly, we saw strong guest spending and increased yields at all of our resorts that significantly outpaced visitation, an indication of the strength of the economy and the experience we provide guests across our resorts."
· Strong Early Colorado Ski Season Boosts Vail Resorts Results [First Tracks]
· Vail CEO: Tahoe ski season off to challenging start [Tahoe Daily Tribune]
· Vail Resorts Plans to Focus on Mountains, Not Real Estate [Curbed Ski]
· 10 Fast Facts On The Ski Industry's Biggest Player: Vail Resorts [Curbed Ski]
· Vail Will Replace Avanti Express With New Six-Person Chairlift [Curbed Ski]
· What It Means To Ski in a Vail-Dominated World [Curbed Ski]
· Vail To Get Huge $25M Mountain Adventure Theme Park [Curbed Ski]
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