Yahoo Finance Vail Resorts (MTN) Reports Ski Season Metrics, Skier Visits Fall
Vail Resorts, Inc. MTN reported certain ski season metrics for the period from the beginning of the ski season through Apr 14, 2024, and for the prior year period through Apr 16, 2023.
Ski Season Metrics
Season-to-date (through Apr 14, 2024) total skier visits fell 7.8% from the prior-year season-to-date period (Apr 16, 2023).
Season-to-date revenues from lift tickets, including a portion of season pass revenues for each period, increased 3.2% compared to the same period last year. Ski school revenues season to date increased by 7.0%, while dining revenues saw 2.4% growth from the prior season-to-date period. However, retail and rental revenues for North American resort and ski area stores experienced a 7.1% decline from the prior season-to-date period.
Kirsten Lynch, CEO of Vail Resorts said that despite a decrease in visitation, the company’s lift revenues saw an increase, fueled by the rise in pass sales secured prior to the season. Additionally, the company’s ancillary businesses thrived, showing notable growth in spending per visit in ski and ride school, dining, and rental services compared to the previous year.
Referring to the fiscal 2024 outlook, Lynch commented, despite late-season improvements, we anticipate concluding the year at or near the lower end of its Resort Reported EBITDA guidance range, as outlined on Mar 11, 2024. This is mainly influenced by the performance of Whistler Blackcomb during the months of March and April.
In the past year, shares of this Zacks Rank #5 (Strong Sell) company have declined 17.3% against the industry’s growth of 11.2%.
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