Vail resort earnings down in early season | PostIndependent.com
YOUR AD HERE »

Vail resort earnings down in early season

VAIL, Colorado ” Vail Resorts reported that revenue and skier visits were down for November, December and January.

At Vail, skier visits dropped 6.2 percent, to 680,000 visits. Beaver Creek saw 402,000 visitors, down 1.5 percent.

In November, the ski resorts struggled with little natural snow and warm temperatures. Both resorts delayed their openings.



For the start of the ski season through mid-December, lift revenue was down 13.6 percent, the company said. But for the rest of the quarter, lift revenue was up by 11.1 percent.

Total revenue for the quarter slipped 0.3 percent compared to last year. Profit was down, too, from $53.0 million for the second quarter last year to $51.3 million this quarter.



International business helped the company, said Vail CEO Rob Katz, citing a 23 percent increase in international guests at the company’s resorts.

Katz touted frothy sales at the Vail Mountain Club, the private club being built at the base of Vail Mountain. The company has sold 332 memberships, and recently upped the price to join.

Broomfield-based Vail Resorts owns Vail, Beaver Creek, Breckenridge, Keystone and Heavenly.

The company, trading as MTN on the New York Stock Exchange, was down $0.95 in morning trading.


Support Local Journalism

Support Local Journalism

Readers around Glenwood Springs and Garfield County make the Post Independent’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.

For tax deductible donations, click here.
 

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User