It is no secret that the success of Vail Resorts is highly dependent on snow conditions, and the rocky start to the 2012 ski season was reflected in the early season’s financial report. However, despite these hardships, Vail Resorts’ latest financial report shows gains in the ski season metrics through Sunday compared to the same time last year. Though the challenging early season has set the company back in terms of following the financial guidance it put in place in September.
Skier visits are up 2% while revenues from lift tickets, ski school, dining and retail were up double digits from last year. Even with the early season setback, the report shows that once the more typical winter conditions returned in mid-December, visitation and guest spending increased–especially during the holidays.
The resort reported a EBITDA to be $244 million to $254 million, short of their 2013 fiscal guidance of $260 million-$270 million that was issued last fall. Now, the net income attributed to Vail Resorts is now expected to be between $39 million and $49 million, up more that double from last year’s results. The revised guidance from fiscal 2013 assumes normal conditions for the remainder of the season. Let it snow, let it snow!
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