HOLIDAY VISITS, REVENUES RISE AT CNL RESORTS

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Publish Date

01/25/2013

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.

Comments

CNL 1 day snap shot boasts

CNL 1 day snap shot boasts are supper funny. Let's look at the BIG CNL picture. Their stock is down more than 75% over the past 3 years. There are multiple 'class action law suits' against CNL. Overall CNL operations are bleeding cash. CNL nusiness model still questionable after they missed an interest payment a few years back. None of their resort have reported increased guest visits. Within a few shorty years, I predict CNL will face the same fate as ASC with a fire sale asset liquidation. Your comments and thoughts are welcomed.

Mountain HIgh

I love how CNL boasts the fact that revenue is up at its resorts, have they actually looked at the day to day operations of, if they did they would see that not all of their resort are in the best of shape, Mountain High is already laying people off and cutting hours. Most likely the worst run operation in the CNL family. Very little regard to people and other key issues.

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