Vail Resorts Skier Visits Fall (MTN)
Vail Resorts (NYSE: MTN), a Broomfield, Colorado-based company, today said that its financial targets will be tougher to hit this year due to the warm weather this winter compared with snow-covered mountains back in December 2010.
The ski resort operator said that its total lift ticket revenue at its six mountain resort properties rose 0.6% through January 2, 2012, compared with the prior year season-to-date period ended January 3, 2011. The company’s season-to-date ski school rose, while dining fell 5.6% due to limited access to certain on-mountain dining facilities through January 2, 2012, compared with period ended January 3, 2011.
Vail’s fiscal year-to-date retail/rental revenue, which includes preseason ski sale events, fell 0.7% through January 2, 2012, compared to the same period in the previous year. The company’s season-to-date total skier visits at its six mountain properties dropped nearly 15.3% through January 2, 2012, compared to the prior year season-to-date period ended January 3, 2011.
Rob Katz, CEO of Vail Resorts, said that the weather has been unusual so far this season. Katz said that for the first time in 30 years, a lack of snow has not allowed the company to open the back bows in Vail as of January 6, 2012, and for the first time since the late 1800s, it did not snow at all in Tahoe in December.
Katz said that despite these conditions, the company is very pleased that season to date its total lift ticket revenue was up 0.6%, and ski school revenue increased 0.9%. Katz noted that the company’s performance in the conditions highlights its strong season pass program, the full experience and comprehensive set of activities and amenities that it provides at resorts and the investments it has made across its resorts in constantly improving and broadening the guest experience.
Katz said that with three quarters of the ski season still remaining, the company is not revising the earnings guidance it issued back in September 2011. However, Katz cautioned that those targets will be more difficult to achieve given the results over the holidays.
Vail Resorts shares are marginally higher in trading today.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht. |
