The results are starting to come in

[MIke R]

and it aint pretty......

Warm Weather Shrinks Vail Resorts 2nd-qtr Profit

By The Associated Press



BROOMFIELD, Colo. (AP) - Vail Resorts Inc.'s fiscal second-quarter net income dropped 15 percent as the mild winter kept customers away from the ski slopes. But the company was able to offset some of that by raising ticket prices and room rates.

“This has been one of the most, if not the most, challenging winters for the U.S. ski industry,” CEO Rob Katz said in a statement Tuesday. Its Tahoe resorts had almost no snow during the November-January quarter, while Colorado resorts only got significant snow starting in mid-January.

The operator of ski resorts, hotels and condominiums also expects weaker results from its resorts division and cut its net income guidance for the year ending in July. The company has ski resorts in several parts of Colorado, including Vail and Breckenridge, the Lake Tahoe area in California and Nevada, and Jackson Hole, Wyo.

Vail reported on Tuesday that it earned $46.4 million, or $1.27 per share, for the November-Ja nuary quarter. That's down from $54.6 million, or $1.48 per share, during the same period the year before.

 

[rivertrash]

Over the Christmas/New Year weeks at Vail and Beaver Creek the local resort TV station lied about there being good snow for awhile and then finally gave up and started hyping fishing, snowmobiling and snowshoeing.

Love it that the article you post just straight-out admits Vail Resorts tried to make up the shortfall by raising prices!

 

[MIke R]

yeah.... we re off about 10% on the mountain...but the retail shops and restos are actually up...and thats pretty typical when the conditions aren't great and they have to do something else to entertain themselves...

sadly the best conditions are right now....we had Special Olympics today and yesterday and they were raving about it.....we close in three weeks...maybe 4

 

[rivertrash]

Got an email earlier this evening from friends who are in Beaver Creek. They had a great ski day today.

 

[NHDiane]

Mike - IMO 10% isn't all that bad, considering we have had little snow this year. My uneducated guess would have been a much bigger loss. Cut the losses and fingers crossed for a big snow year in 2012/2013. Tomorrow, 50+ degrees here..hope Jack's race is a successful one. Great charity

 

[MIke R]

Diane....no one here is complaining at all at 10% down....it could have been far far worse

we'll take it ....and unlike many ski resorts, we have an extremely robust summer golf/hiking etc season.....

and yes Jacks Race is awesome charity....just had the Special Olympics here which was equally as awesome