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Vail Resorts Reports Certain Ski Season Metrics for the Season-to-Date Period Ended April 22, 2012

Tuesday, May 1, 2012 4:10 PM


BROOMFIELD, Colo., May 1, 2012 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today reported certain ski season metrics for the comparative periods from the beginning of the ski season through April 22, 2012, and for the prior year period from the beginning of the season through April 24, 2011.  The data mentioned in this release are interim period data, exclude Kirkwood, which was acquired on April 12, 2012, and are subject to fiscal quarter end review and adjustments. 

Highlights

  • Season-to-date total lift ticket revenue at the Company's six mountain resort properties, and including an allocated portion of season pass revenue for each applicable period, was down approximately 0.3% through April 22, 2012, compared to the prior year season–to-date period ended April 24, 2011 despite a decline in total skier visits of 12.6% for the same time periods.
  • Season-to-date ancillary revenue from ski school was up 0.3% while revenue from dining was down 4.0% and revenue from retail/rental was down 0.3% through April 22, 2012, compared to the prior year season-to-date period ended April 24, 2011.  
  • Total season-to-date ancillary revenue per skier visit from ski school, dining and retail/rental increased 13.4% through April 22, 2012 compared to the prior year season-to-date period ending April 24, 2011. 

Commenting on the 2011-12 ski season, Rob Katz, Chief Executive Officer said, "This was one of the most challenging weather seasons in the history of the United States ski industry marked by historically low snowfall and one of the mildest winters on record.  These highly unprecedented weather patterns extended over much of the season including the key Christmas, Spring Break and Easter periods, adversely impacting terrain.  Cumulative snowfall at our six resorts was down more than 50% over the prior season.  In the face of these unprecedented conditions, we were very pleased with the resiliency demonstrated in our business. Season-to-date, our total lift ticket revenue declined 0.3% despite a 12.6% decline in skier visits, with our Colorado resorts off 8.9% in visits and our Tahoe resorts, excluding Kirkwood, down 24.2% in visits.  Ski school revenue increased 0.3% while dining and retail/rental decreased 4.0% and 0.3%, respectively, with all categories benefiting from a strengthening consumer spending pattern.  Ancillary revenue per skier visit, including ski school, dining, and retail/rental, increased 13.4% per visit buoyed by increased yields from our luxury and international guests.  Our performance highlights the strength of our season pass program as well as our industry leading snowmaking capabilities and expertise in grooming and mountain operations, further differentiating our resorts by exceeding guest expectations in both terrain availability and quality.


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