Vail Resorts (Kirkwood, Northstar, Heavenly, Vail, Beaver Creek, Brekenridge, Keystone) has released their 2nd fiscal quarter numbers. A 15% drop in skier visits and a 15% drop in net income are the most striking pieces of information. They are blaming these drops on the lower than normal snowfall at their ski resort in California and Colorado.
“This has been one of the most, if not the most, challenging winters for the U.S. ski industry. We have seen the lowest snowfall levels in over 30 years for our Colorado resorts and weather patterns in Tahoe that have not been seen since the late 1800s.” – Vail Resorts CEO Rob Katz.
Vail also announced in the report their plans for a $75-$85 million capital improvement plans that include a new gondola at the base of Vail that will have heated cabins and wifi.
“With heated cabins and Wi-Fi, the gondola will set a standard for how guests are transported up a mountain while dramatically reducing wait times by increasing uphill capacity by 40%.” – Vail Resorts
Full Moon will be shining on Vail tomorrow night, maybe it’ll help? VAILS 2ND QUARTER FISCAL 2012 NUMBERS:
– 15% drop in skier visits and 15% drop in net income
– Net income of $46.4 million for 2nd quarter, a decrease of $8.2 million (15% decrease from 2nd quarter of fiscal 2011)
– 0.7% decline in mountain net revenue for the second quarter of fiscal 2012 compared with the same period in the prior year with a 14.6% decline in skier visits
– Capital improvements planned in 2012: $75-$85 million
Full Vail 2nd quarter fiscal 2012 report here:
Vail 2nd Quarter Fiscal 2012 Report