Vail Resorts generated $906.5 million in revenue in fiscal Q2 2022, a 32% increase compared to the same period last year.
The Colorado-based company — which operates 37 mountain resorts and ski areas — attributes the growth to a strong holiday season through March 6, which saw a 3% increase in total skier visits and a 10% uptick in total lift revenue compared to the same period in 2020.
Vail Resorts reported a favorable holiday season but also saw growth across all segments in fiscal Q2.
- Its mountain segment generated $90.8 million in revenue in Q2, up 21% year-over-year.
- Lodging reported a $30 million (79%) increase in revenue compared to Q2 2021.
Vail Resorts projects full-year EBITDA to range between $813 million and $837 million, and the company plans to use the capital to invest in its guest experience. The company will be increasing its minimum wage to $20 per hour and is planning to invest $327 million to $337 million to expand capacity at 14 resorts.
Success On The Slopes
Last December, Vail Resorts agreed to acquire Seven Springs Mountain Resort for $125 million. The deal includes Hidden Valley Resort and the operations of Laurel Mountain Ski Area.
Vail Resorts will acquire all assets related to the mountain operations of the resorts, including ski areas, lodging, and a hotel. The acquisition is expected to generate incremental annual EBITDA of over $15 million for the fiscal year ending July 31, 2023.