It has been a while since this site has posted and a lot has happened in the ski industry. Here are a few “short swings”…..
Heavy rain in New England: The recent huge rainfall in New England set back some resorts for a few days but resorts made a quick recovery. According to Ski Area Management magazine (SAM) Maine probably got hit the hardest with five inches of rain falling in a short period of time, according to reports. Sunday River was hit hard and, like other resorts, was forced to temporarily close. Despite the damage inflicted, the resort managed to reopen on December 23. Anywhere from 2 – 4 inches of rain fell throughout the Northeast.
Bookings Down in the West: It may be that consumers are getting tired of high prices at ski resorts or maybe lack of snow is a factor but bookings have been sluggish out west. Also according to SAM, “modest snowfall across much of the West and rate-sensitive customers weary of high prices combined to bring down on-the-books occupancy (and some daily rates) for the full winter season, according to DestiMetrics, the Business Intelligence division of Inntopia, in its most recent Monthly Market Briefing. Rates, in fact, are declining year-over-year in some markets for the first time since the restricted 2020-21 season.”
Vail Continues its Industry “Leadership”: On the other hand, the Vail season sales juggernaut seems to be chugging along. SAM also reported this:
On a Dec. 7 earnings call, Vail Resorts CEO Kirsten Lynch reported continued pass sales growth in both
units and revenue for the company headed into the 2023-24 season. Pass product sales for the North American ski season increased approximately 4 percent in units and approximately 11 percent in sales dollars through Dec. 4, 2023, as compared to the prior year period through Dec. 5, 2022.
Unit sales moderated relative to the figures reported in the company’s Sept. 28 earnings call, while the increase in sales dollars remained roughly the same. Lynch attributed this to a successful push to move purchasers earlier in the selling cycle.
Vail Resorts recently announced its purchase of Crans-Montana in Switzerland.