Vail Resorts (NYSE:MTN) updates on ski season metrics.
The company reports season-to-date total lift ticket revenue at North American mountain resorts was up 1.6% through Jan. 7.
Season-to-date ski school revenue was down 4.5% and dining revenue was down 8.7% compared to the year-ago period.
Retail/rental revenue for North American resort store locations was down 11.5% Y/Y.
CEO update: "Given the truly historic low snowfall across our western U.S. resorts, we are pleased with our results to date, which reflect the stability provided by our season pass program and the investments we have made in our resorts. The 2017/2018 ski season had a very challenging start across our western U.S. resorts due to poor conditions in the early season that continued through the holiday period, reducing both local and destination visitation and spending."
Snowfall season to date in Vail, Beaver Creek and Park City was the lowest level recorded in over 30 years.
Source: Press Release
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