Vail Resorts reported season-to-date total lift ticket revenue at the company’s North American mountain resorts, including an allocated portion of season pass revenue for each applicable period, was up 3.7 percent from the beginning of the ski season through April 15.
Season-to-date ski school revenue was up 3.4 percent and dining revenue was down 1.4 percent compared to the prior year season-to-date period. Retail/rental revenue for North American resort store locations was down 4.2 percent compared to the prior year season-to-date period.
Season-to-date total skier visits for the company’s North American mountain resorts were down 1.9 percent compared to the prior year season-to-date period.
Commenting on the ski season to date, Rob Katz, chief executive officer, said, “We are pleased with our results as the 2017/2018 ski season concludes, particularly considering the historically low snowfall across our western U.S. resorts for much of the ski season. Conditions improved significantly in March and April across our resorts which supported stronger results that are in line with our expectations from our March 8, 2018 guidance. Our results throughout the 2017/2018 ski season highlight the stability provided by our season pass, the benefit of our geographic diversification and the success of our sophisticated, data-driven marketing efforts.”
Discussing spring season pass sales results, Katz continued, “Our attention is already turning to the 2018/2019 season with spring season pass sales underway. Guests continue to be attracted to the compelling network of resorts available on our pass, and we are seeing the benefits of our new pass partnerships and our spring benefits, which include the ability to buy a pass for $49 down. To date, we have seen strong overall results with continued growth on top of the record results we saw last spring, excluding sales of military pass products to new passholders. We are seeing solid growth across all geographies, with particular strength in our destination markets and with Whistler Blackcomb products. In addition, our military pass products are driving a significant number of new passholders into our program.”
The reported ski season metrics are for its North American mountain resorts was adjusted as if Stowe was owned in both periods and also adjusted to eliminate the impact of foreign currency by applying current period exchange rates to the prior period for Whistler Blackcomb’s results. The metrics exclude results from Perisher and our urban ski areas in both periods. The data mentioned is interim period data and is subject to fiscal quarter end review and adjustments.
Vail Resorts’ subsidiaries operate eleven world-class mountain resorts and three urban ski areas, including Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in British Columbia, Canada; Stowe in Vermont; Perisher in New South Wales, Australia; Wilmot Mountain in Wisconsin; Afton Alps in Minnesota and Mt. Brighton in Michigan. Vail Resorts owns and/or manages a collection of casually elegant hotels under the RockResorts brand, as well as the Grand Teton Lodge Company in Jackson Hole, Wyoming.
