Vail reports skier visits up 2.3% through April 20
Last Updated: 14:15 April 24, 2014
That growth came with increases for several of the company's other key metrics, including lift revenue and revenue from its ski school and dining operations.
The strength comes thanks in part to a winter that was blissfully white with snow. All but one of Broomfield-based Vail Resorts' eight ski resorts were able to stay open until at least April 20 this year.
Still, the company noted that ancillary spending increases outpaced skier visits. Ski-school revenue increased by 7.5 percent. Dining revenue rose 3.1 percent. And retail/rental revenue increased 5.1 percent.
That's in addition to a 7.6 percent increase in lift revenue for the season so far. Breckenridge in Colorado and Kirkwood in the Lake Tahoe area are projected to stay open through this weekend.
The numbers released Thursday by Vail Resorts (NYSE: MTN) were illustrated only by percentages and not raw figures. They measure the period from the beginning of the ski season to date. The increases incorporate Canyons in Utah, new to Vail Resorts' lineup this year, as though it were also owned last season. The numbers do not include the company's urban ski areas, Afton Alps and Mount Brighton.
The areas included were Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Heavenly, Northstar and Kirkwood in the Tahoe area of California and Nevada; and Canyons in Utah.
"Our spring results were stronger than we expected and our growth rates finished higher than our previously released metrics from early March," Vail Resorts chief executive Rob Katz said in a press release. "The trends in Colorado, Utah and Tahoe largely continued as we previously discussed, though our Colorado resorts showed even stronger momentum than we anticipated despite a late Easter and good results in the spring of 2013."
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