Vail Resorts Reports 22/23 Skier Visits Are Up 6.1% Over Last Season
Vail Resorts has released interim period data for the current ski season up to April 16, 2023, as well as data for the same period in the previous year up to April 17, 2022. The figures relate to the Company's North American destination mountain resorts and regional ski areas, including Seven Springs, Hidden Valley, and Laurel Mountain. The data excludes the results of the Australian ski areas and Andermatt-Sedrun in both periods, and is subject to review and adjustments at the end of the fiscal quarter.
The season-to-date total skier visits increased by 6.1% compared to the prior year's season-to-date period, while total lift ticket revenue, including an allocated portion of season pass revenue, was up 4.0%. Additionally, ski school revenue increased by 26.4% and dining revenue increased by 35.3% compared to the prior year period. Retail/rental revenue for North American resort and ski area store locations also increased by 21.8%.
Season-to-date total skier visits were up 6.1% compared to the prior year season-to-date period.
Season-to-date total lift ticket revenue, including an allocated portion of season pass revenue for each applicable period, was up 4.0% compared to the prior year season-to-date period.
Season-to-date ski school revenue was up 26.4% and dining revenue was up 35.3% compared to the prior year season-to-date period. Retail/rental revenue for North American resort and ski area store locations was up 21.8% compared to the prior year season-to-date period.
Massive lines of skiers and snowboarders at Park City Mountain Resort. Credit: SnowStash
Kirsten Lynch, CEO of Vail Resorts, expressed pleasure with the strong growth in visitation and spending compared to the prior year, and highlighted the positive impact of returning to normal staffing levels on guest satisfaction scores. She noted the challenges faced by the company during the winter season due to weather-related disruptions and capacity constraints caused by COVID-19. However, she stated that the stability created by the company's advance commitment strategy helped offset these challenges.
Lynch also provided an outlook for fiscal 2023, stating that the strong finish to the season was in line with the Resort Reported EBITDA guidance issued in March 2023. She mentioned that spring pass sales for the 2023/2024 season were underway, and that the company had seen solid growth in pass product sales in both local and destination markets, particularly in the Northeast.
The reported ski season metrics include growth for season pass revenue based on estimated fiscal 2023 North American season pass revenue compared to fiscal 2022 North American season pass revenue.
Basis of Presentation
The reported ski season metrics include growth for season pass revenue based on estimated fiscal 2023 North American season pass revenue compared to fiscal 2022 North American season pass revenue. The metrics include all North American destination mountain resorts and regional ski areas, including Seven Springs, Hidden Valley and Laurel Mountain as if they were owned in both periods, and are adjusted to eliminate the impact of foreign currency by applying current period exchange rates to the prior period for Whistler Blackcomb’s results. “Eastern” U.S. resorts collectively refers to the 26 Midwest, Mid-Atlantic and Northeast resorts.
Want to stay up to date with all the news we find interesting? Make sure you follow us on our socials where we post all the latest updates.
Related Articles
