Vail resorts reported strong revenue increases for the 2006 fiscal year due to increased skier visits, partially offset by slower real estate sales. Total revenue increased 3.5% to $838.9 million from $810.0 million last year. The mountain segment saw a 14.7% increase in revenues to $640.4 million, while lodging revenues slipped 21%. Net income for fiscal 2006 was $45.8 million, or $1.19 per diluted share, compared to net income of $23.1 million, or 64 cents per diluted share, for 2005.
In the mountain segment for the year, lift ticket revenue was up 12.7% to $263.0 million, while the ski school reported a revenue increase of 13.6% to $72.6 million. Vails retail and rental business, including its Specialty Sport Ventures JV, saw sales increase 24.3% to $149.4 million compared to $120.1 million last year. During the fourth quarter, the rental and retail business saw sales increase 22.5% to $17.6 million compared to $14.4 million last year. For the year, total skier visits increased 5.9% with Vail climbing 6.9%; Breckenridge up 10.1%; Heavenly down 3.9%; Keystone up 7.1%; and Beaver Creek increasing 7.4%.
