Vail released their Third Quarter report on Thursday.
Vail Resorts reported net income for 3rd quarter of the year was $292 million. That income is up $36 million from the previous year. Season pass sales through May for the upcoming ski season were up approximately 9% in units sold during the same time frame.
"Our Colorado, Utah and Tahoe resorts experienced strong local and destination visitation throughout the third fiscal quarter, supported by favorable conditions across the western U.S. which also allowed for an extension of the ski season for select resorts in Colorado and Tahoe.” Vail CEO Rob Katz said.
The lodging revenue increased 16% for Vail Resorts. The report credited increases in lodging at Park City Mountain Resort as a contributor to the third quarter increase. Katz mentioned plans for improvements at PCMR.
“At Park City we plan to transform the Tombstone Express area with a new permanent Tombstone barbecue restaurant and the new four person over and out lift," Katz explained. "That will provide a quicker more direct route for skiers and riders to access Canyons Village from the center of the resort.”
Vail also credited the third quarter growth in part to the acquisitions the company made this fall including Okemo and Mount Sunapee Resorts in the Northeastern U.S. and Crested Butte in Colorado as well as Stevens Pass in Washington.
