SAM Magazine—Denver, Colo., May 13, 2015—Bolstered by last fall's aquisition of 100 percent interest in Blue Mountain, Ontario, Intrawest reported consolidated revenue increased $36 million, or 12.6 percent, to $321.8 million, for the quarter ended Mar. 31, 2015. On a same-store basis, treating Blue Mountain as if it was fully owned in both years, the revenue increase was 4.8 percent. Net income attributable to Intrawest Resorts Holdings, Inc. improved $19.2 million, or 17.6%, to $128.7 million.

SAM Magazine—Denver, Colo., May 13, 2015—Bolstered by last fall's aquisition of 100 percent interest in Blue Mountain, Ontario, Intrawest reported consolidated revenue increased $36 million, or 12.6 percent, to $321.8 million, for the quarter ended Mar. 31, 2015. On a same-store basis, treating Blue Mountain as if it was fully owned in both years, the revenue increase was 4.8 percent. Net income attributable to Intrawest Resorts Holdings, Inc. improved $19.2 million, or 17.6%, to $128.7 million.

Intrawest's six mountain resorts are Steamboat, Winter Park, Stratton, Snowshoe, Tremblant, and Blue Mountain.

Mountain revenue increased $43 million, or 20 percent, to $258.1 million. On a same-store basis, mountain revenue increased $16.4 million, or 6.5 percent, which Intrawest attributed to increased season and multi-day pass sales and gains in revenues from guest services.

Total skier visits increased 26.8 percent, to 3.1 million, compared to the prior year period, a gain of 2.6 percent on a same-store basis. Lift revenue increased 21.1 percent compared to the prior year period, or 8.2 percent on a same-store basis.

For the nine months through Mar. 31, total visits for the season were 4 million, a 24 percent gain from the prior season—again, due largely to the inclusion of Blue Mountain for the 2014-15 season. Total revenues were $514.4 million, a rise of 13.1 percent from the year-earlier total.

“While preliminary industry reports indicate an overall decline in skier visits, we drove skier visit growth across all regions and overcame challenging weather conditions,” said Tom Marano, CEO. “Overall, we experienced strong growth in our mountain segment largely due to the power of our season pass and frequency product program, successful pricing initiatives, and the impact of our growth capital investments.”

Intrawest operates an adventure travel business, the cornerstone of which is the Canadian Mountain Holidays heli-skiing operation. Adventure revenue declined $5.8 million, or 11.5 percent, to $44.6 million. The company reported that a $5.5 million unfavorable foreign currency translation adjustment accounted for nearly all of the decline.

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