Vail Resorts reports quarterly losses

BROOMFIELD — Broomfield-based Vail Resorts Inc. (NYSE:  MTN) posted losses of nearly $83.7 million, or $2.07 per share, in the fourth quarter of fiscal year 2018.

Those losses are up from about $57.1 million during the same quarter last year.

Revenues for the ski resort operator in the fourth quarter, which ended July 31, were $211.6 million.

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In a conference call with investors Friday, Vail Resorts CEO Rob Katz cited “very challenging conditions in the western U.S. this past winter.”

Despite those conditions, “This year’s results highlight the positive impact of our expanding geographic diversification, the stability provided by our growing season pass program and the success of our guest-focused marketing efforts,” he said. “Our western U.S. destination resorts experienced modest visitation declines compared to the prior year due to the historically poor conditions, particularly for the first half of the season. However, revenue at our western U.S. resorts was in line with prior year performance due to season pass sales and yield growth.”

Earlier this week, the company finalized a deal that added three new resorts to Vail’s portfolio.

The acquisition of Triple Peaks LLC included Crested Butte Mountain Resort, Okemo Mountain Resort in Vermont and Mount Sunapee Resort in New Hampshire.

The company’s stock was down about 4 percent early Friday afternoon.