Fri Jan 11, 2019 9:47 am
Fri Jan 11, 2019 11:56 am
destination guest visitation was "much lower" than anticipated in the pre-holiday period. As a result of its pre-holiday miss, the company said it now expects full-year resort reported earning before interest, taxes, depreciation and amortization (EBITDA) to be "slightly below the low end" its previously provided guidance range of $718 million to $750 million. Chief Executive Rob Katz said he believes the weak pre-holiday visitation resulted from concerns from two prior years of poor pre-holiday conditions at U.S. resorts, and the lack of a pick up in short-term bookings as expected. Over the holiday, Katz said results were in line with expectations, expect at Whistler Blackcomb and the Tahoe resorts.
Separately, the company reported season-to-date lift ticket revenue growth for North American mountain resorts of 12.2%, ski school revenue up 9.5% and total skier visits up 16.9%.
Fri Jan 11, 2019 1:46 pm
Tony Crocker wrote:What is the definition of "season-to-date" in the latter quote, if not pre-holiday plus holiday?
I wonder how the revenue from season passes sold in spring of the prior season is recognized in reported income?
And finally, I wonder if the advent of the Ikon Pass has put a dent in Epic pass sales?
MTN hit a record high of $301.42 on 9/4/2018, but is now at $188. That's a big hit but the timing is in line with the slide of the market overall.
Fri Jan 11, 2019 3:00 pm
Fri Mar 08, 2019 2:59 pm
Mon Mar 11, 2019 10:10 pm
Tony Crocker wrote:I've had offline conversations. A fairly knowledgeable eastern source thinks Vail overpaid even for Whistler and Stowe. I'm sure Vail overpaid for the Mueller properties. Crested Butte is a poor financial bet IMHO. It's expert weighted, with said expert terrain often not open until Februay and some of it not open at all. Intermediate terrain is very modest by Colorado standards and the Muellers got shot down when they tried to expand it. If you want to go remote in Colorado, Telluride is a superior mountain resort experience in nearly every way. The eastern source says Okemo is worth something but Sunapee very little.