HOLIDAY VISITS, REVENUES RISE AT CNL RESORTS
SAM Magazine—Orlando, Fla., Jan. 25, 2013—CNL Lifestyle Properties reported significant increases in attendance and revenues at its 17 ski resorts over the Martin Luther King, Jr. holiday weekend. The resorts reported a 37 percent increase in paid visits and a 41 percent increase in revenue compared to the previous year. The Christmas holiday week saw a similar increase, too.
“This year’s strong holiday results compared with the 2011-2012 ski season are encouraging,” said Steve Rice, senior vice president and managing director of CNL Lifestyle Properties’ ski and mountain portfolio. The MLK results also bested those from the gangbusters 2010-11 season: up 1 percent in visits and 9 percent in revenues.
Ample cold temperatures and snowfall early in the ski season were key factors in driving skier visits, along with favorable weather and travel conditions during MLK weekend, the company said. Capital investments by CNL, which have opened up more ski terrain and boosted snowmaking capacity at some resorts, were also a contributing factor, as were terrain expansions at several resorts.
CNL Lifestyle Properties owns the nation’s largest portfolio of ski resorts, and has spent more than $220 million in ongoing capital investments. It has invested $105 million in capital maintenance funding as well.
The strong Martin Luther King, Jr. Day holiday weekend comes less than a month after strong Christmas and New Year’s Day holidays at the resorts. CNL resorts saw both paid visits and revenues between Dec. 24, 2012 and Jan. 1, 2013 rise by 37 percent compared with the same time period a year ago.