BROOMFIELD, Colo., Jan. 14, 2015 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today reported certain ski season metrics for the comparative periods from the beginning of the ski season through January 11, 2015, and for the prior year period through January 12, 2014, adjusted as if Park City was owned in both periods. The reported ski season metrics do not incorporate the urban ski areas of Afton Alps and Mt. Brighton. The data mentioned in this release is interim period data and is subject to fiscal quarter end review and adjustments.
- Season-to-date total lift ticket revenue at the Company's nine mountain resorts, including an allocated portion of season pass revenue for each applicable period, was up 9.3% compared to the prior year season-to-date period.
- Season-to-date ancillary spending increased over prior year, with ski school revenue up 9.2% and dining revenue up 6.8% at the Company's nine mountain resorts. Additionally, retail/rental revenue for resort store locations was up 10.4% compared to the prior year season-to-date period.
- Season-to-date total skier visits for the Company's nine mountain resorts were up 1.8% compared to the prior year season-to-date period.
Commenting on the ski season to date, Rob Katz, Chief Executive Officer said, "We are very pleased with our Company-wide results season-to-date, which are consistent with our original expectations. Our Colorado resorts had particularly strong results with very strong destination visitation and consistent conditions. While Utah had a slower start to the holiday period, we saw very good momentum in the week following Christmas, with strong visitation at both resorts. Unfortunately, early season conditions in Tahoe proved challenging again this year, leading to lower growth from our Tahoe resorts than anticipated. Most importantly, we saw strong guest spending and increased yields at all of our resorts that significantly outpaced
visitation, an indication of the strength of the economy and the experience we provide guests across our resorts."
About Vail Resorts, Inc. (NYSE: MTN)
Vail Resorts, Inc., through its subsidiaries, is the leading mountain resort operator in the United States. The Company's subsidiaries operate the mountain resorts of Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California
and Nevada; Park City and Canyons in Utah; Afton Alps in Minnesota and Mt. Brighton in Michigan; and the Grand Teton Lodge Company in Jackson Hole, Wyoming. The Company's subsidiary, RockResorts, a luxury resort hotel company, manages casually elegant properties. Vail Resorts Development Company is the
real estate planning, development and construction subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.
Forward Looking Statements
Statements in this press release, other than statements of historical information, are forward looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to prolonged weakness in general economic conditions, including adverse affects on the overall travel and leisure related industries; unfavorable weather conditions or natural disasters; willingness of our guests to travel due to terrorism, the uncertainty of military conflicts or outbreaks of contagious diseases, and the cost
and availability of travel options; adverse events that occur during our peak operating periods combined with the seasonality of our business; competition in our mountain and lodging businesses; high fixed cost structure of our business; our ability to successfully initiate, complete, and sell new real estate development projects and achieve the anticipated financial benefits from such projects; our ability to fund resort capital expenditures; our reliance on government permits or approvals for our use of Federal land or to make operational and capital improvements; risks related to Federal, state and local government laws, rules and regulations; risks related to our reliance on information technology; our failure to maintain the integrity of our customer or employee data; adverse consequences of current or future legal claims; a deterioration in the quality or reputation of our brands,
including from the risk of accidents at our mountain resorts; our ability to hire and retain a sufficient seasonal workforce; risks related to our workforce, including increased labor costs; loss of key personnel; our ability to successfully integrate acquired businesses or future acquisitions; our ability to realize anticipated financial benefits from Canyons or Park City; impairments or write downs of our assets; changes in accounting estimates and judgments, accounting principles, policies or guidelines; a materially adverse change in our financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission, including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended July 31, 2014.
All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All guidance and forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forecast or forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/vail-resorts-reports-certain-ski-season-metrics-for-the-season-to-date-period-ended-january-11-2015-300020432.html
SOURCE Vail Resorts, Inc.