Vail Resorts reported season-to-date total skier visits were down 16.6 percent compared to the prior year season-to-date period. Season-to-date total lift ticket revenue, including an allocated portion of season pass revenue for each applicable period, was down 20.9 percent compared to the prior year season-to-date period.
Season-to-date ski school revenue was down 52.6 percent and dining revenue was down 66.2 percent compared to the prior year season-to-date period. Retail/rental revenue for North American resort and ski area store locations was down 39.2 percent compared to the prior year season-to-date period.
The reported ski season metrics are for its North American destination mountain resorts and regional ski areas and exclude the results of its Australian ski areas in both periods. The metrics cover the beginning of the ski season through January 3, 2021, and for the prior-year period through January 5, 2020. The data mentioned is interim period data and subject to fiscal quarter end review and adjustments.
Commenting on the ski season to date, Rob Katz, chief executive officer, said, “As expected, COVID-19 has had a significant negative impact on our 2020/21 North American ski season-to-date results. Visitation across our North American resorts declined relative to prior-year levels, primarily as a result of declines in visitation from non-pass, lift ticket purchases. We expect these declines were primarily driven by reduced demand for destination visitation at our Western resorts and COVID-19-related capacity limitations which were further impacted by snowfall levels that were well below average at our Colorado, Utah and Tahoe resorts through the holiday season. Visitation was particularly impacted in regions where heightened COVID-19-related restrictions exist, including Whistler Blackcomb, Tahoe and Vermont. We are pleased with the resilience of our guest demand, with local visitation at our Western resorts in line with our prior-year results and destination visitation supported by our strong season pass sales results leading into the season. Consistent with our expectations, our ancillary lines of business saw material season-to-date revenue declines in excess of the declines in visitation as a result of the COVID-19 limitations and restrictions, particularly in food and beverage and ski school. Additionally, our lodging revenue is experiencing quarter-to-date declines relative to the prior year that are similar to our first quarter of fiscal 2021.
Katz continued, “Despite the challenging environment and specific capacity impacts of COVID-19, we are pleased with our overall revenue performance compared to the prior-year period, which we believe demonstrates the value of our long-term advanced commitment strategy and the loyalty of our guest base. Given the uncertainty COVID-19 has created for travel demand, operating restrictions and the ultimate visitation to and spending at our resorts, the company will not be providing full-year guidance for fiscal 2021 at this time. However, if capacity restrictions remain stable and we experience normal conditions in Colorado, Utah and Tahoe, we would expect to see improved performance for the remainder of the season.”
Photo courtesy Vail Resorts
