Vail Resorts releases early-season sales data
January 14, 2014
Vail Resorts Inc. this week reported comparative ski season metrics from the beginning of the ski season through Jan. 5.
The metrics have been adjusted to reflect data had Vail Resorts owned Canyons Resort in Park City, Utah, during this time last year, a Vail Resorts release stated. Data from Afton Alps in Minnesota and Mount Brighton in Michigan were not included in the analysis.
Total season-to-date lift-ticket revenue at Vail Resorts’ eight mountains, including an allocated portion of season pass revenue, was up approximately 3.9 percent compared with the same period last year, the release stated. Season-to-date lift-ticket revenue at Vail Resorts’ five mountains in Colorado and Utah was up 11.7 percent.
Season-to-date ancillary spending outpaced skier visitation, with ski school revenue up 4.5 percent and dining revenue up 2.3 percent companywide. Additionally, retail and rental revenue for resort store locations was up 2.1 percent.
“We are pleased that, in addition to the strong 16 percent increase in season pass sales we discussed in early December, we saw very strong performance at our five destination resorts in Colorado and Utah.”
Vail Resorts Inc. CEO
At Colorado and Utah resorts, season-to-date ski school revenue was up 7.5 percent, dining revenue was up 13.1 percent and retail and rental revenue for resort store locations was up 7.7 percent.
Season-to-date skier visits at the company’s eight mountain resorts were down 0.7 percent compared with the same period in 2013, but were up 7.4 percent at resorts in Colorado and Utah.
Total skier visits at Vail’s Tahoe resorts declined approximately 23.4 percent compared with this time last year.
“We are pleased that, in addition to the strong 16 percent increase in season pass sales we discussed in early December, we saw very strong performance at our five destination resorts in Colorado and Utah in both lift ticket sales and in capturing ancillary guest spending in our ski school, food and beverage and resort retail/rental operations,” said CEO Rob Katz in the release. “Unfortunately, conditions in Tahoe have been very poor with snowfall down approximately 85 percent relative to prior year resulting in visitation and guest spending well below our expectations, which negatively impacted our overall revenue growth.”
Despite challenging conditions in Tahoe, Vail Resorts officials are confident they can remain within their fiscal year 2014 guidance range, saying they incorporated the potential for adverse weather in their estimates, the release stated. However, Vail Resorts’ confidence would require more normalized conditions returning to Tahoe by the third quarter.
Vail Resorts Inc., through its subsidiaries, operates the mountain resorts of Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Canyons Resort in Utah; Afton Alps in Minnesota; Mount Brighton in Michigan; and the Grand Teton Lodge Co. in Jackson Hole, Wyo.
Trending In: Business
- Summit County sales tax revenue continues to climb
- How craft breweries are used to revitalize Colorado neighborhoods
- Mountain Law: Understanding Colorado homestead exemption law
- Your Money: My favorite myth: Why are bonuses taxed so high?
- Breckenridge crepe cart owner shares the secret for the perfect pancake