Skier visits down 15% at Vail Resorts

BROOMFIELD – Lift-ticket revenue was up slightly for Vail Resorts Inc. over the holiday period, although total skier visits were down more than 15 percent, the resort company said on Friday.

Broomfield-based Vail Resorts (NYSE:MTN) reported lift-ticket revenue up 0.6 percent from the beginning of the season in November 2011 through Jan. 2, 2012, compared to the same period a year earlier. Season-to-date skier visits were down 15.3 percent, including lower use by season pass holders, the company said. No specific numbers were given.

Vail Resorts subsidiaries operate Vail, Beaver Creek, Breckenridge and Keystone ski areas in Colorado and Heavenly and Northstar in the Lake Tahoe area of California and Nevada, as well as the Grand Teton Lodge Company in Jackson Hole, Wyoming.

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“We have had some very unusual weather so far this season. For the first time in 30 years, a lack of snow has not allowed us to open the back bowls in Vail as of Jan. 6, 2012,” Rob Katz, chief executive, said in a press statement.

Ski school revenue was up 0.9 percent for the same season-to-date time period, but dining was down 5.6 percent across all six ski resorts. Retail and rental revenue, including preseason ski sale events, was down 0.7 percent.

Katz said the company is not revising the earnings guidance it issued in September 2011. It will be more difficult for the company to meet targets it set in September, given the holiday results, however, Katz said.