Vail Resorts’ skier visits dip as revenue increases
April 26, 2017
BROOMFIELD — Vail Resorts Wednesday reported certain ski season metrics for the comparative periods from the beginning of the ski season through April 23, 2017, and for the prior year period through April 24, 2016.
The reported ski season metrics are for the company's North American resorts, adjusted as if Whistler Blackcomb was owned in both periods using comparable exchange rates in each applicable period. The metrics exclude results from Perisher and Vail Resorts' urban ski areas in both periods. The data is interim period data and subject to fiscal quarter-end review and adjustments.
Season-to-date total lift ticket revenue at the company's North American mountain resorts, including an allocated portion of season pass revenue for each applicable period, was up 7.4 percent compared to the prior year season-to-date period.
Season-to-date ancillary spending increased compared to the prior year, with ski school revenue up 4.5 percent and dining revenue up 3.3 percent at the company's North American mountain resorts. Additionally, retail and rental revenue for North American resort store locations was up 3.4 percent compared to the prior year season-to-date period.
Season-to-date total skier visits for the company's North American mountain resorts were down 2.8 percent compared to the prior year season-to-date period. The company doesn't report results at individual resorts.
Commenting on the ski season metrics, Vail Resorts CEO Rob Katz said, "We are pleased with our results as the 2016-2017 ski season comes to its conclusion. While overall visitation was impacted by the slower start to the season, our results highlight the strong performance throughout the year and the stability provided by our season pass, the benefit of our increasing geographic diversification and the success of our sophisticated marketing efforts that continue to support robust destination visitation and guest spending."
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Regarding the outlook for fiscal 2017, Katz said, "Based on our performance this spring we expect that our fiscal year 2017 Resort Reported EBITDA (earnings before interest, taxes, depreciation and amortization) will be in the top half of the guidance range issued on March 10."
Discussing spring season pass sales results, Katz added, "Our attention is already turning to the 2017-2018 season with spring season pass sales underway. … To date, we have seen strong overall results with continued growth on top of the record results we saw last spring."
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