Vail Resorts Inc. (NYSE:MTN) reported Mountain net revenue grew in tandem with skier visits in the fiscal year ended July 31.

Mountain revenues, which include revenues from lift ticket, ski and snowboard schools, rental and retail shops and on-mountain dining, grew 18.2 percent to $1.3 billion on total skier visits of approximately 10 million.

“Total skier visits, including a full year of Perisher results, increased 18.5 percent, while total U.S. skier visits increased 13.2 percent,” said Vail Resorts CEO Robert Katz. “Total Effective Ticket Price (ETP) increased 3.5 percent, driven by season pass and lift ticket price increases across our resorts, partially offset by higher visitation per pass. Our ancillary businesses also experienced growth with ski school, dining and retail/rental revenue, up 13.5 percent, 19.8 percent and 10.0 percent, respectively, compared to the prior year.”

The retail/rental revenue includes results at Vail Resorts Retail, which operates about 200 specialty ski and snowboard shops in, or within a day’s drive of, the company’s 11 U.S. resorts.

Other fiscal year results for the Mountain segment included:

  • Season pass revenue increased $46.6 million, or 21.5 percent, compared to the prior fiscal year.
  • U.S. ETP, excluding season pass holders, increased $8.49, or 9.8 percent, compared to the prior fiscal year.
  • Mountain Reported EBITDA for fiscal 2016 increased $96.7 million, or 29.5 percent, to $424.4 million, excluding the non-cash gain on the Park City litigation settlement in the prior fiscal year.

The company has issued guidance that calls for Mountain reported EBITDA to reach $452 million to $478 million in fiscal 2017. The estimate assumes an exchange rate of 77  cents between the Australian and U.S. dollar, related to the operations of Perisher, the company’s resort in Australia. In addition, the estimate excludes any operating results from Vail Resorts’ pending acquisition of Whistler Blackcomb, including associated transaction-related and integration costs.

 On August 8, Vail Resorts agreed to acquire Whistler Blackcomb Holdings Inc., which operates North America’s largest and most visited mountain resort. Canadian anti-trust authorities have cleared the transaction, which Vail Resorts expects to close this fall pending Whistler Blackcomb shareholder and remaining Canadian regulatory approvals.

Through its subsidiaries, Vail Resorts operates nine 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; Perisher in New South Wales, Australia; Afton Alps in Minnesota; Mt. Brighton in Michigan and Wilmot Mountain in Wisconsin. It also owns and/or manages a collection of hotels under the RockResort brand, as well as the Grand Teton Lodge Company in Jackson Hole, Wyoming.