News Search

Push to The Latest: No

SAM Magazine—Broomfield, Colo., April 28—Vail Resorts (VR) was up 19.4 percent in lift ticket revenue and 12.5 percent in skier visits through mid-April compared to Covid-limited 2020-21, according to the company’s latest shareholder report. HN vailearlyseasonresults 11318CEO Kirsten Lynch said the strong year-over-year performance was “as expected,” and noted that Covid-related limitations and restrictions significantly impacted the prior year’s results.

The reported metrics are for the comparative periods from the beginning of the ski season through April 17, 2022, and for the prior year period through April 18, 2021. The figures reflect the performance of VR’s North American destination mountain resorts and regional ski areas, and exclude the results of the company’s recently acquired Seven Springs Resorts and Australian ski areas.

Ancillary revenue saw huge gains for the comparative period, with season-to-date ski school revenue up 53 percent, dining revenue up 73.2 percent, and retail/rental revenue up 39 percent. However, Lynch commented that the company’s “ancillary businesses continued to be capacity constrained by staffing, and in the case of dining, by operational restrictions associated with Covid-19.”

She attributed the growth in visits and revenue largely to robust pre-season pass sales; the company reported a 47 percent increase year-over-year in unit sales back in December.  

Said Lynch of the current season-to-date period: “Our results throughout the 2021-2022 North American ski season highlight both the stability resulting from the advance commitment from season pass products in a season with challenging early season conditions, staffing challenges, and Covid-19 impacts and our strong execution following the holiday period through the end of the season." VR had finished the holiday period down but started to rebound in Q2.

Regionally, VR said destination visitation was particularly strong, and that lift ticket sales at its Colorado and Utah resorts exceeded expectations. Whistler Blackcomb, B.C., also performed stronger than anticipated thanks to eased Canada-U.S. travel restrictions. Additionally, while VR’s eastern U.S. ski areas performed in line with expectations, its Tahoe resorts underperformed, a result attributed to challenging spring conditions.