Vail Resorts: Skier visits, spending are up
April 21, 2010
BROOMFIELD, Colo. – Skier visits as well as revenue from lift tickets, ski school, retail and dining improved this season compared to last year, Vail Resorts said Wednesday.
Broomfield-based Vail Resorts operates Vail, Beaver Creek, Breckenridge and Keystone in Colorado, and Heavenly in California.
The statistic reported by the company include:
• Lift ticket revenue was up 4.6 percent compared to last year.
• Skier visits were up 2.3 percent.
• Ski school revenue was up 8.3 percent.
• Rental/retail revenue was up 8.1 percent.
• Dining revenue was up 2.5 percent.
Rob Katz, CEO of the company, said Vail Resorts saw a lot of “destination,” or out-of-state, visitors this year, especially during spring break and around Easter. The upticks in ski school and retail/rental revenues are promising indicators for the recovery of spending by guests, Katz said in a press release.
Katz added that the company has reinstated some of last year’s wage and benefit reductions for employees.
Year-round employees received a 2 percent wage increase effective April 1. Seasonal employees will see the increase at the beginning of next season. Also, the company’s 401(k) program has been partially reinstated, Katz said.
“Last year we asked our employees to share in the burden of reducing our costs in light of the reduced revenues arising from the economic environment primarily through wage reductions and deferral of the 401(k) company match, in an effort to preserve our labor force and continue to drive the guest experience,” Katz said in the release. “With our business improving, we wanted to immediately begin to restore some of these reductions to our employees, with further potential restorations to be reviewed again in the upcoming fiscal year.”