Vail Raises Guidance After Better Than Expected Spring Season
Vail Resorts Inc. raised its guidance Thursday after more people than expected visited the company’s destination resorts in Utah and Colorado in March and April.
Both visitations and lift ticket purchases exceeded expectations at destination resorts in those states, and results at local mountains generally met plan.
Ski school, retail, rentals and food and beverage have been hard hit during the pandemic but turned out better than expected due to the increased visitation in Colorado and Utah.
Results at Whistler Blackcomb continue to be negatively impacted by the Canadian border closures and COVID restrictions.
The company now expects net income to range from $258 million to $280 million for the nine-month period. Previously, Vail had expected net income of $204 million and $247 million.
Vail Resorts operates a wide range of well-known resorts and regional ski areas including Vail, Beaver Creek, Breckenridge, Keystone, Park City, Heavenly, Northstar, Whistler Blackcomb, and Stowe.