Vail Resorts Reports Certain Ski Season Metrics for the Season-to-Date Period Ended April 21, 2019
- Season-to-date total lift ticket revenue at the Company's North American 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 ski school revenue was up 6.5% and dining revenue was up 7.0% compared to the prior year season-to-date period. Retail/rental revenue for North American resort store locations was up 6.2% compared to the prior year season-to-date period.
- Season-to-date total skier visits for the Company's North American mountain resorts were up 6.8% compared to the prior year season-to-date period.
Commenting on the ski season to date,
Regarding the outlook for fiscal 2019, Katz said, "The strong finish to the season produced results that were in line with the Resort Reported EBITDA guidance we issued on
Discussing spring season pass sales results, Katz continued, "Our attention is already turning to the 2019/2020 season with spring season pass sales underway. Guests continue to be attracted to the compelling network of resorts available on our pass and our spring benefits, which include the ability to buy a pass for only
Basis of Presentation
The reported ski season metrics include growth for estimated season pass revenue based on fiscal 2019 North American season pass sales compared to fiscal 2018 North American season pass sales and the metrics are adjusted as if
Certain statements discussed in this press release, other than statements of historical information, are forward-looking statements within the meaning of the federal securities laws, including our expectations regarding our fiscal 2019 performance, including our expected Resort Reported EBITDA and our expectations regarding 2019/2020 season pass sales, 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 effects on the overall travel and leisure related industries; unfavorable weather conditions or the impact of natural disasters; risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data; risks related to cyber-attacks; 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 and changing consumer preferences; the seasonality of our business combined with adverse events that occur during our peak operating periods; competition in our mountain and lodging businesses; high fixed cost structure of our business; our ability to fund resort capital expenditures; risks related to a disruption in our water supply that would impact our snowmaking capabilities and operations; our reliance on government permits or approvals for our use of public land or to make operational and capital improvements; risks related to federal, state, local and foreign government laws, rules and regulations; risks related to changes in security and privacy laws and regulations which could increase our operating costs and adversely affect our ability to market our products and services effectively; our ability to hire and retain a sufficient seasonal workforce; risks related to our workforce, including increased labor costs; loss of key personnel; adverse consequences of current or future legal claims; a deterioration in the quality or reputation of our brands, including our ability to protect our intellectual property and the risk of accidents at our mountain resorts; our ability to successfully integrate acquired businesses, or that acquired businesses may fail to perform in accordance with expectations, including recent acquisitions; our ability to satisfy the requirements of Section 404 of the Sarbanes-Oxley Act of 2002, with respect to acquired businesses; risks associated with international operations; fluctuations in foreign currency exchange rates where the Company has foreign currency exposure, primarily the Canadian and Australian dollars; changes in accounting judgments and estimates, accounting principles, policies or guidelines or adverse determinations by taxing authorities; risks associated with uncertainty of the impact of recently enacted tax reform legislation in
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.
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Investor Relations: Bo Heitz, (303) 404-1800, InvestorRelations@vailresorts.com; Media: Carol Fabrizio, (720) 524-5025, email@example.com