Vail Resorts Reports Certain Ski Season Metrics for the Season-to-Date Period Ended January 5, 2025
Vail Resorts (NYSE: MTN) reported its ski season metrics through January 5, 2025, showing mixed performance across key indicators. Total skier visits decreased slightly by 0.3% compared to the prior year. However, total lift ticket revenue, including season pass revenue, increased by 4.5%. Ancillary services showed varied results with ski school revenue up 1.1% and dining revenue increasing 6.6%, while retail/rental revenue declined by 5.4%.
The company noted strong early-season conditions and improved local visitation, though destination guest visits at western North American resorts were below prior year levels. This decline is attributed to a shift in visitation patterns to later in the ski season. Despite these mixed results, management expects improved performance for the remainder of the season based on pre-committed guests and current booking trends.
The company also announced reaching an agreement with the Park City Mountain patrol union, resolving recent labor disputes that had affected operations.
Vail Resorts (NYSE: MTN) ha riportato le sue metriche della stagione sciistica fino al 5 gennaio 2025, mostrando risultati misti su indicatori chiave. Le visite totali degli sciatori sono diminuite leggermente dello 0,3% rispetto all'anno precedente. Tuttavia, il ricavo totale dalla vendita di skipass, inclusi i guadagni dai pass stagionali, è aumentato del 4,5%. I servizi accessori hanno mostrato risultati variati con il ricavo della scuola di sci in aumento dell'1,1% e il ricavo della ristorazione che è cresciuto del 6,6%, mentre i ricavi da vendita/noleggio sono diminuiti del 5,4%.
L'azienda ha notato condizioni favorevoli all'inizio della stagione e un miglioramento delle visite locali, anche se le visite degli ospiti nei resort della parte occidentale del Nord America erano al di sotto dei livelli dell'anno precedente. Questo calo è attribuito a un cambiamento nei modelli di visita verso periodi più tardi della stagione sciistica. Nonostante questi risultati misti, la direzione prevede un miglioramento delle performance per il resto della stagione basato sugli ospiti già prenotati e sulle attuali tendenze di prenotazione.
L'azienda ha anche annunciato di aver raggiunto un accordo con il sindacato del pattugliamento della Park City Mountain, risolvendo recenti conflitti lavorativi che avevano influenzato le operazioni.
Vail Resorts (NYSE: MTN) informó sobre sus métricas de la temporada de esquí hasta el 5 de enero de 2025, mostrando un desempeño mixto en indicadores clave. Las visitas totales de esquiadores disminuyeron ligeramente un 0.3% en comparación con el año anterior. Sin embargo, los ingresos totales por venta de boletos de elevación, incluidos los ingresos por pases de temporada, aumentaron un 4.5%. Los servicios auxiliares mostraron resultados variados, con los ingresos de la escuela de esquí aumentando un 1.1% y los ingresos de restaurantes incrementándose en un 6.6%, mientras que los ingresos por venta/alquiler disminuyeron en un 5.4%.
La compañía destacó las fuertes condiciones al inicio de la temporada y la mejora en la visita local, aunque las visitas de huéspedes en los resorts del oeste de América del Norte estaban por debajo de los niveles del año anterior. Este descenso se atribuye a un cambio en los patrones de visita hacia más tarde en la temporada de esquí. A pesar de estos resultados mixtos, la administración espera un mejor desempeño para el resto de la temporada basándose en los huéspedes ya comprometidos y las tendencias actuales de reservas.
La empresa también anunció haber alcanzado un acuerdo con el sindicato de patrullas de Park City Mountain, resolviendo disputas laborales recientes que habían afectado las operaciones.
Vail Resorts (NYSE: MTN)는 2025년 1월 5일까지의 스키 시즌 지표를 보고했으며, 주요 지표에서 혼합된 성과를 보여주었습니다. 총 스키어 방문자는 전년 대비 0.3% 감소했습니다. 그러나 스키 패스 수익을 포함한 총 리프트 티켓 수익은 4.5% 증가했습니다. 부가 서비스는 스키 학교 수익이 1.1% 증가하고 식사 수익이 6.6% 상승하는 등 다양한 결과를 보였지만, 소매/렌탈 수익은 5.4% 감소했습니다.
회사는 시즌 초반의 강력한 조건과 개선된 지역 방문이 있었지만, 북미 서부 리조트의 목적지 방문객 수는 전년 수준 아래에 있다고 언급했습니다. 이러한 감소는 스키 시즌 후반으로의 방문 패턴 변화에 기인합니다. 이러한 혼합된 결과에도 불구하고, 경영진은 이미 예약된 고객과 현재의 예약 트렌드를 바탕으로 남은 시즌에 대한 성과 개선을 기대하고 있습니다.
회사는 또한 Park City Mountain 순찰 노조와의 협상이 성사되어 최근의 노동 분쟁이 해결되었다고 발표했습니다.
Vail Resorts (NYSE: MTN) a communiqué ses indicateurs de saison de ski jusqu'au 5 janvier 2025, indiquant des performances mixtes à travers les principaux indicateurs. Le nombre total de visites de skieurs a légèrement diminué de 0,3 % par rapport à l'année précédente. Cependant, les revenus totaux des forfaits de remontées mécaniques, y compris les revenus des passes saisonnières, ont augmenté de 4,5 %. Les services annexes ont présenté des résultats variés, avec une augmentation des revenus de l'école de ski de 1,1 % et des revenus de la restauration en hausse de 6,6 %, tandis que les revenus de la vente/location ont diminué de 5,4 %.
L'entreprise a noté de fortes conditions en début de saison et une amélioration de la fréquentation locale, bien que les visites des clients dans les stations de ski de l'ouest de l'Amérique du Nord soient restées en deçà des niveaux de l'année précédente. Cette diminution est attribuée à un changement dans les schémas de visite vers des périodes plus tardives de la saison de ski. Malgré ces résultats mixtes, la direction s'attend à une amélioration des performances pour le reste de la saison, basée sur les clients déjà engagés et les tendances actuelles de réservation.
L'entreprise a également annoncé avoir conclu un accord avec le syndicat de la patrouille de Park City Mountain, mettant fin à des conflits de travail récents qui avaient affecté les opérations.
Vail Resorts (NYSE: MTN) berichtete über seine Skisaison-Kennzahlen bis zum 5. Januar 2025 und zeigte gemischte Leistungen bei den wichtigsten Indikatoren. Die Gesamtzahl der Skifahrerbesuche sank im Vergleich zum Vorjahr um 0,3%. Allerdings stiegen die Gesamteinnahmen aus Liftkarten, einschließlich der Einnahmen aus Saisonkarten, um 4,5%. Die Nebendienstleistungen zeigten unterschiedliche Ergebnisse, wobei die Einnahmen aus der Skischule um 1,1% und die Einnahmen aus der Gastronomie um 6,6% stiegen, während die Einnahmen aus Einzelhandel/Mietartikeln um 5,4% sanken.
Das Unternehmen wies auf starke Bedingungen zu Saisonbeginn und verbesserte lokale Besucherzahlen hin, obwohl die Besuche von Touristen in den westlichen Nordamerika-Resorts unter den Vorjahreswerten lagen. Dieser Rückgang wird auf eine Veränderung der Besuchsmuster hin zu späteren Zeiten in der Skisaison zurückgeführt. Trotz dieser gemischten Ergebnisse erwartet die Geschäftsführung für den Rest der Saison eine Verbesserung der Leistung, basierend auf vorab gebuchten Gästen und aktuellen Buchungstrends.
Das Unternehmen gab außerdem bekannt, dass es eine Einigung mit der Park City Mountain-Patrouillen-Gewerkschaft erzielt hat, um kürzlich aufgetretene Arbeitskonflikte zu lösen, die sich negativ auf den Betrieb ausgewirkt hatten.
- Lift ticket revenue increased 4.5% year-over-year
- Dining revenue grew 6.6% compared to prior year
- Ski school revenue up 1.1%
- Resolution of Park City Mountain patrol union dispute
- Total skier visits declined 0.3% year-over-year
- Retail/rental revenue decreased 5.4%
- Lower destination guest visitation at western North American resorts
- Operational disruptions due to patrol union strike
Insights
The latest metrics from Vail Resorts reveal a mixed performance with notable trends in revenue streams. The
The shift in destination guest visitation patterns presents both a challenge and an opportunity. While early-season numbers were impacted, the company's substantial pre-committed guest base through season passes provides revenue visibility and stability. The
The resolution of the Park City Mountain patrol union dispute eliminates a significant operational risk factor. Looking ahead, the company's maintained EBITDA guidance suggests management's confidence in achieving their financial targets, supported by current booking trends and the expected shift in visitation timing.
The industry normalization trend and evolving consumer behavior patterns are reshaping Vail's operational dynamics. Two key insights emerge: First, the increased local visitation indicates a shift in customer mix that could impact revenue per visitor metrics. Second, the delayed timing of destination guests represents a broader industry-wide transformation in booking patterns post-COVID.
The
The pre-committed guest base through season pass sales provides a robust foundation for the remainder of the season. This subscription-like revenue model helps insulate the company from short-term weather variations and economic fluctuations, while the geographic diversification across North America, Europe and Australia offers additional operational stability.
- Season-to-date total skier visits were down
0.3% 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
4.5% compared to the prior year season-to-date period. - Season-to-date ski school revenue was up
1.1% and dining revenue was up6.6% compared to the prior year season-to-date period. Retail/rental revenue for North American resort and ski area store locations was down5.4% compared to the prior year season-to-date period.
Commenting on the ski season-to-date, Kirsten Lynch, Chief Executive Officer said, "We are pleased with our season-to-date results, which reflect the stability provided by our season pass program, our investments in the guest experience, and the execution of our mountain operations teams across all of our mountain resorts. Season-to-date results benefited from improved weather conditions, and were impacted by the continued industry demand normalization and the late timing of the Thanksgiving holiday in the current year as expected, along with a shift of destination guest behavior to later in the season. Early season conditions enabled a strong terrain offering and guest experience, which drove improved local visitation relative to the prior year. Through the holiday period, destination guest visitation at our western North American destination mountain resorts was below prior year levels, which we believe was driven by a continued shift in visitation patterns across the ski industry to later in the ski season that increased after challenging early season conditions in the prior year. Ancillary spend per destination guest visit was strong across our ski school and dining businesses, with overall performance reflecting the higher mix of local visitation during the period."
Lynch continued, "For the remainder of the season, we are expecting improved performance compared to the season-to-date period, with a shift in destination guest visitation, based on our significant base of pre-committed guests, current lodging booking trends, and historical guest behavior patterns. We expect to achieve full year performance within the Resort Reported EBITDA guidance range we reiterated on December 9, 2024. Our guidance assumes a continuation of the current economic environment, industry normalization to pre-COVID guest behavior, normal weather conditions for the remainder of the 2024/2025 North American and European ski season and the 2025 Australian ski season, and the foreign currency exchange rates provided in our original September 26, 2024 guidance.
"In addition to the strong start to the winter season, we are pleased to have reached an agreement with the Park City Mountain patrol union that is consistent with the wage structure across all of our mountain resorts. We deeply regret the disruptions caused to our guests during the patrol union strike and are committed to delivering an exceptional and safe experience for our guests, and rebuilding their trust and loyalty."
Basis of Presentation
The reported ski season metrics include growth for season pass revenue based on estimated fiscal 2025 North American season pass revenue compared to fiscal 2024 North American season pass revenue. The metrics include all North American destination mountain resorts and regional ski areas, 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.
About Vail Resorts, Inc. (NYSE: MTN)
Vail Resorts is a network of the best destination and close-to-home ski resorts in the world including Vail Mountain,
Forward-Looking Statements
Certain statements discussed in this press release and on the conference call, other than statements of historical information, are forward-looking statements within the meaning of the federal securities laws, including the statements regarding fiscal 2025 performance and the assumptions related thereto, including, but not limited to, our expected Resort Reported EBITDA; our expectations regarding weather and economic conditions, and their potential impact on our business; our expectations related to our season pass products; our expectations regarding our ancillary lines of business; and our expectations related to guest behavior, patterns, mix, and visitation, and their anticipated impacts on our business. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to risks related to a prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries and our business and results of operations; risks associated with the effects of high or prolonged inflation, elevated interest rates and financial institution disruptions; unfavorable weather conditions or the impact of natural disasters or other unexpected events; the ultimate amount of refunds that we could be required to refund to our pass product holders for qualifying circumstances under our Epic Coverage program; the willingness or ability of our guests to travel due to terrorism, the uncertainty of military conflicts or public health emergencies, and the cost and availability of travel options and changing consumer preferences, discretionary spending habits; risks related to travel and airline disruptions, and other adverse impacts on the ability of our guests to travel; risks related to interruptions or disruptions of our information technology systems, data security or cyberattacks; risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data and our ability to adapt to technological developments or industry trends; our ability to acquire, develop and implement relevant technology offerings for customers and partners; the seasonality of our business combined with adverse events that may occur during our peak operating periods; competition in our mountain and lodging businesses or with other recreational and leisure activities; risks related to the high fixed cost structure of our business; our ability to fund resort capital expenditures, or accurately identify the need for, or anticipate the timing of certain capital expenditures; risks related to a disruption in our water supply that would impact our snowmaking capabilities and operations; our reliance on government permits or approvals for our use of public land or to make operational and capital improvements; risks related to resource efficiency transformation initiatives; risks related to federal, state, local and foreign government laws, rules and regulations, including environmental and health and safety laws and regulations; risks related to changes in security and privacy laws and regulations which could increase our operating costs and adversely affect our ability to market our products, properties and services effectively; potential failure to adapt to technological developments or industry trends regarding information technology; our ability to successfully launch and promote adoption of new products, technology, services and programs; risks related to our workforce, including increased labor costs, loss of key personnel and our ability to maintain adequate staffing, including hiring and retaining a sufficient seasonal workforce; risks related to labor disruptions or strikes from labor unions representing certain of our employees; our ability to successfully integrate acquired businesses, including their integration into our internal controls and infrastructure; our ability to successfully navigate new markets, including
All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All guidance and forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forecast or forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law.
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SOURCE Vail Resorts, Inc.
FAQ
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