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Simply put, Vail Resorts had a good year. Rebounding from a 2011-12 season that was starved for snow, Vail Resorts‘ net income increased 129.4 percent in 2012-13 to $37.7 million. The company also acquired new resorts in Minnesota and Michigan, and struck a 50-year lease deal to operate The Canyons resort in Utah.
“We are excited about the upcoming ski season and expect to build upon the positive momentum from fiscal 2013,” said Rob Katz, the company’s chief executive officer, in a statement on the 2012-13 numbers. “Fiscal 2014 will be an exciting year for Vail Resorts. We are integrating Canyons Resort, Afton Alps, and Mount Brighton into our pass products, marketing efforts and operations. The opening of Peak 6 at Breckenridge, Chair 4 at Vail, and the new Red Tail on-mountain restaurant at Beaver Creek will be important drivers of growth for these critical resorts in Colorado.”
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Here, a look at some of the numbers from the recent report. (All increases compared to previous fiscal year.)
- 13.6 percent increase in skier visits (7 million visitors up from 6.1 million)
- 8.8 percent increase ($11.9 million) in season pass revenue
- 17.6 increase in lift revenue ($36.4 million), which excludes season passes
- 13 percent increase in revenue from ski school
- 9.7 percent increase in revenue from ski rental and retail business
—Image courtesy of Shutterstock