While Vail Resorts Inc. has seen its highest visitations throughout this year, their most recent numbers report a significant loss for the summer quarter. Throughout the entire fiscal year, Vail is posting good earnings and significant growth across the board.
Vail Resorts Inc. 2016 Statistics
- The July quarter recorded a $65.3 million loss, better than last years $70.1 million loss
- Total mountain net revenue is up to $1.3 billion for the 2016 fiscal year
- Both lift-ticket and season pass revenues increased by 29%
- Ticket prices rose by 9.6%
- Skier visits increased by 18% to 10 million visits breaking Vail’s previous records
- Season pass sales through Sept. 18 for the upcoming season are up by 24%
- Dining revenue grew by 25%
- Ski-school revenue is up by 32%
- Retail and rental revenue grew by 12%
- All in all, Vail Resorts Inc. stock is up by 25% for the year
“The launch of Epic Discovery outdoor adventure parks at Vail in Colorado and Heavenly in Lake Tahoe this summer drove significant increases in visitation and revenue during the quarter.”
–Chief Executive Rob Katz
Source; Denver Post (Vail Resorts post deeper-than-anticipated…)
While the Epic Discovery outdoor may have increased revenue the overall cost to build, which occurred over a few years, and loss from this past quarter are fairly significant. Along with the acquisition of Whistler Blackcomb, which cost slightly more than $1 billion, and Park City Mountain Resort, purchased for a mere $182 million, Vail’s expenditures are way up. The $1.3 billion in net annual revenue so far is just a raindrop in a bucket compared to Vail’s future revenue outlooks, however it is a much needed blanket to cover their current holdings.