Winter is coming and it appears COVID-19 will affect a second ski season. In Vail Resorts’ quarterly earnings report last week, the company said its financial outlook will continue to suffer due to limits on lift tickets, food and beverage sales, and reduced travel.
Vail’s fiscal year ended on July 31, with revenue down 13.6% year-over-year because of the pandemic-shortened ski season and travel disruptions. Total skiers for the year declined by about 10%.
While season passes outpace where they were this time last year by 18%, the company says it’s largely redemption of credits from the shortened year and renewals. New customer sales have declined.
Vail’s Season Pass Pace:
- Roughly 850,000 passes sold for the upcoming season in North America.
- Sold 1.14 million passes through early December 2019.