The Whistler Mountain and Blackcomb ski resorts reported nearly flat sales in the fourth quarter thanks to higher spending by fewer visitors, their controlling shareholder reported last week.
Whistler Blackcomb Holdings Inc., which owns a 75 percent interest in the resorts, reported they drew 426,000 visitors in the fiscal first quarter ended Dec. 31, 2013, down 13 percent from the comparable period a year ago. However, those visitors spent an average of 13.8 percent more per visit, enabling the company to report revenues of $49.8 million, just 1 percent below year earlier levels. Adjusted EBITDA decreased $800,000, or by 7 percent, to $9.5 million. The increase in spending reflected a higher ratio of destination guests compared to regional guests, who are more likely to cancel reservations if snow conditions are unfavorable.
The results demonstrate the company’s pricing power even during unfavorable weather conditions, according to Whistler Blackcomb President and CEO Dave Brownlie.
“Our snowmaking infrastructure allowed us to open more skiable terrain than any other resort in North America for the holiday period and the success of our pre-commitment sales program contributed positively to our results during the quarter,” Brownlie said.
Snowfall through Dec. 31, 2013 was 186 centimeters compared to the 10-year average snowfall for the same period of 472 centimeters and 560 centimeters for the same period in the prior year. As of Feb. 2, skier visits were down just 8.6 percent compared to the year earlier season-to-date period and season pass and frequency card sales were up 3 percent. Whistler Blackcomb estimated that international visitors accounted for 40 percent of the skier visits through that date, compared with 30 percent for the comparable period in 2012.
