Vail Resorts has seen a 7.8% drop in skier visits through Jan. 5 as compared to last year. Vail Resorts believes the drop in skier visits is due to a slow start to the ski season in British Columbia and Washington state.
Not surprisingly, dining revenue was down 3.6% and retail revenue at resorts has fallen 1.8% compared to last season. Meanwhile, lift-ticket revenue was actually up 0.4%, while ski-school revenue has jumped by 2%.
In a news release, CEO Rob Katz attributed much of the skier drop-off following last year’s good season to the poor conditions at Whistler Blackcomb in Canada and at Stevens Pass in Washington, noting that season-to-date snowfall at Whistler, in particular, is 60% below the 30-year average. That has impacted both destination and local ski visits at one of the company’s largest resorts, though Katz added that improved conditions there in recent weeks have enabled officials finally to get all of Whistler Blackcomb open. – 9news.com
Vail Resorts believes that despite the slow start to the season, guidance for company earnings in the 2019-20 fiscal year is still correct.