Vail Resorts reports lower-than-expected coronavirus losses | SummitDaily.com
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Vail Resorts reports lower-than-expected coronavirus losses

Jason Blevins
The Colorado Sun
Skiers and snowboarders stand in a lift line on opening day Nov. 13 at Breckenridge Ski Resort. On Thursday, March 11, Vail Resorts reported lower-than-expected losses this season due to the pandemic.
Photo by Liz Copan / Studio Copan

 

DENVER — Not as bad as expected. That was the theme Thursday as Vail Resorts CEO Rob Katz told investors about declines in revenue, income and visits so far in the 2020-21 ski season.

Vail Resorts reported $147.8 million in income through January for the second quarter of its fiscal 2021, a drop of 28% compared to the second quarter of fiscal 2020. Revenue of $378.3 million marked a 27% decline for the same three months of the 2019-20 season. Skier visits for its 34 North American resorts through March 7 are down only 8.2% compared with the same period last season.

Katz said he was “very pleased” with the results, noting that none of the company’s North American ski areas have endured any “major ongoing disruptions” during the pandemic. As snow finally arrived in January and February, resorts saw visitation climb and lift ticket sales increase, Katz said.



Destination traffic “proved more stable than expected,” Katz said. Skiers who travel from afar to ski at Vail Resorts’ hills accounted for 53% of the company’s visits, down from 57% in the same period last season.

That stability likely means Vail Resorts’ Colorado and California resorts drew big numbers of vacationers, considering Whistler-Blackcomb, the company’s most trafficked hill with about 2 million visits a winter, saw destination travel collapse as Canada shut out international visitors. At Whistler, which is popular with skiers from overseas, the number of destination guests accounted for only 15% of all visits so far this season, compared with 48% in the previous season.



Read more at ColoradoSun.com.


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