Vail Resorts Inc. MTN said Wednesday that total skier visits were up 12.5% in the season to date, compared with the same time a year ago. Total lift ticket revenue was up 5.3%, while ski school revenue was up 35.6% and dining revenue was up 58% versus a year ago. “Results season to date for the 2022/2023 North American ski season outperformed results from the comparable prior year period, which were negatively impacted by challenging early season conditions, elevated COVID-19 cases associated with the Omicron variant and staffing-driven capacity constraints in our ancillary businesses,” Chief Executive Kirsten Lynch said in a statement. Visits to the company’s western U.S. resorts was below expectations, however, after the extreme weather in December that created major airline disruptions across the U.S. Lynch said the company expects to make up some of the shortfall later in the season given the number of guests with advance commitment pass products. The company expects fiscal 2023 EBITDA will come in the lower half of its guidance range issued last September. The stock was not yet active premarket, but has fallen 15% in the last 12 months, while the S&P 500 SPX has fallen 13%.
by HoffmanWest Leave a Comment
Leave a Reply