Late Season Surge Helps Vail Resorts
Vail Resorts, one of the snow industry’s largest customers which owns 40 mountain resorts and ski areas, provided metrics this week on how the snow season turned out.
Season-to-date through April 17 vs the same period last year:
- Total skier visits rose 12.5%
- Lift ticket revenue, including a portion of season pass revenue, up 19.4%
- Ski school revenue up 53%
- Dining revenue up 73%
- Retail/rental for North America up 39%.
While the season got off to a slow start, business took off starting in January, the company said.
Strong season pass sales boosted results at destination resorts, and lift ticket sales in Colorado and Utah exceeded expectations.
Other good news included better than expected results at Whistler Blackcomb after travel restrictions into Canada eased.
One of the weak spots were resorts in Tahoe, which were negatively impacted by challenging spring conditions. However, results for Eastern ski areas met expectations.
Because of the strong finish to the season, particularly the better than expected lift ticket demand in Colorado, Utah and Whistler, Vail now expects its full year Resort EBITDA to be at the top range of its guidance. Previously, the company said Resort EBITDA should range between $813 million and $837 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.