According to Vail Resorts’ latest quarterly report, the leisure-services company has seen economic growth across virtually all segments of its operations.
BY THE NUMBERS
- 24 percent: Growth in season pass units sold.
- 10 million: Total skier visits in the 2016 fiscal year.
- $1.3 billion: Total Mountain net revenue for fiscal 2016.
The popularity of Vail’s Epic Pass, coupled with favorable winter weather across much of the western United States, helped Vail increase visitation to its company’s U.S. resorts by 13 percent in fiscal 2016. For the first time ever, Vail Resorts topped 10 million skier visits.
As Vail Resorts’ is seeing growth across in its resort businesses the company is backing out of the real estate development business.
While the company still holds more than $90 million worth of real estate, Vail Resorts CEO, Robert A Katz, said that Vail is “focused on what the resort and community needs. We hope to announce a number of partnerships in the coming years.” Those partnerships will include the newly acquired ski resorts of Park City and Whistler Blackcomb. But, Katz said, the company is not rushing it.
“We’re happy to take whatever time is required,” he said. “We need to have something everyone can feel good about.”
Vail Resorts owns 11 ski resorts in Colorado, California, Utah, Minnesota and Australia and last month Vail announced it was buying Whistler Blackcomb Holdings for $1.06 billion.
Also Read: Vail Resorts Buys Whistler Blackcomb