Company reports increases in season pass sales and advance bookings
By Summit Voice
SUMMIT COUNTY — After one of the toughest seasons in memory, Vail Resorts wrapped up its fiscal year 2012 with earnings down about 7.5 percent from 2011, according to the company’s earnings statement released today (Sept. 25).
Total net revenue was $1,024.4 million in 2012 compared to $1,167.0 million in the prior year, a 12.2 percent decrease.
For 2012, VR reported a net income of $16.5 million, down from $34.5 million in 2011, as skier visits dropped steeply at the company’s California and Colorado ski areas. In Colorado (Vail, Beaver Creek, Keystone and Breckenridge) visits dropped 8.9 percent, from 5.2 million in 2011 to 4.8 million in 2012.
Overall VR skier visits dropped by 12.1 percent, from 7 million in 2011 to 6.1 million in 2012. Continue reading
Filed under: business, Colorado, ski industry, Ski Resorts, Summit County Colorado, Summit County news, Vail Resorts | Tagged: 2012 fiscal year, Beaver Creek, Breckenridge, Keystone, ski industry, Vail, Vail Resorts | Leave a comment »