Here are some interesting tidbits from Vail's 24Q1 Conference Call.
- Epic Pass Sales are up, and revenues are even higher since they are pricier.
- The total number of pass sales increased by 4%, and due to the company’s decision to raise its pre-sale pass prices, total sales revenue increased by 11%.
Much of the talk at Thursday’s earnings call revolved around Vail Resorts’ creation of a new pass-selling market in Europe.
On Nov. 30, the company announced it had agreed to acquire its 42nd ski area, Crans-Montana Mountain Resort in Switzerland. Vail Resorts had also purchased a 55-percent ownership stake in the resort operations of Andermatt-Sedrun in Switzerland 16 months earlier, in August 2022.
Lynch said when it comes to the acquisition of more European resorts, she hopes the company’s pace will become even more rapid, although it’s hard to predict what will become available when.
“It’s so driven by the market dynamics and the owners of these assets and where they are and what they’re interested in doing, but we certainly hope to see here that we will continue to make progress on Europe,” Lynch told analyst Patrick Scholes. “We have been focused on Europe as this market is a big opportunity for growth for a long time, so we’re very encouraged to have Andermat-Sedrun and Crans-Montana here over the last couple of years, and the market there is almost three times the size of the number of skier visits as North America, so we hope to continue to make progress with the aspirations to build a network there, but no idea how fast that pace is going to be.”
Vail Resorts is reporting double-digit growth in pass sales dollars over last year following the company’s seasonal cessation of its Epic, Epic Local and Epic Day pass products on Sunday. The sales numbers were released...