Vail Resorts profit soars on stronger revenue
By Tess Stynes, Wall Street Journal
Vail Resorts Inc. said its earnings rose 95 percent on stronger revenue thanks to growth in season-pass sales and spending for other items such as meals and dining during the quarter ended January.
However, for the year ending in July, Vail lowered the upper end of its forecast for earnings before interest, taxes, depreciation and amortization by $10 million and now expects Ebitda between $340 million and $350 million. The updated guidance includes a roughly $37 million shortfall in revenue at its Tahoe resorts, compared with earlier estimates.
For the current season through March 8, Vail Resorts reported total skier visits edged down 0.3 percent. However, total lift revenue — including impacts of growing season pass revenue — increased 8 percent and spending for ski classes, dining and other ancillary sales all grew.
Chief Executive Rob Katz results in February and early March continued trends the company saw in the latest quarter, with strength in Colorado offset by shortfalls to expectations in Tahoe.
Don’t Forget!!! Season passes for next year are now on sale!! Get yours quick before prices go up!! Who cares if we get any snow!!!
Who needs snow when we have the top of Nevada.
Vail loses 37 million from Tahoe resorts from projected estimates of income. Well it being a practically non-winter here that should come as no surprize. Yet Heavenly Valley is still charging how much for a lift ticket? What percentage of the mountain is open? How many runs? What about Kirkwood and Northstar?
Oh well, it’s getting close to closing time at the end of the season. I seen plenty of those”closing dates” over the years. Maybe next year we will have a REAL winter. Lets hope for a winter like 1952!!!
Now it’s time to break out the golf clubs, beach blankets, BBQ,lawn chairs and gardening tools.
Plant your seeds early,as I feel we will have a long hot summer and try to conserve water. and be fire safe.
Good luck Vail, your’e gonna need it. Old Long Skiis
Worst season ever.