Excerpt from: Ski Resort Market Trends and Statistics
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| October 18, 2009 | | The Ski Channel reports on Vail ski resort earnings | The fiscal year is ending for some companies, including some ski resorts. Vail Resorts is a publicly traded company, and has released its statement from the 2009 fiscal year, which ended at the close of July. The Ski Channel reports on the results from Vail ski resort earnings:
Commenting on the Company's Fiscal 2009 results, Rob Katz, Chief
Executive Officer said, "I am pleased that Vail Resorts was able to
deliver solid results for the fiscal year ended July 31, 2009, given
the unprecedented economic environment and its impact on the travel and
leisure sectors. Our fourth fiscal quarter is a seasonally low quarter
with no ski operations.
Therefore, our year-end results, especially in our Mountain segment,
tracked with trends previously reported for our third quarter to date.
Even though there was a decrease of $59.6 million from the year before, things aren't looking that horrible. The bottom line is that all ski resorts and other tourist type businesses were hard hit by the recession. However, it appears that Vail Resorts wasn't as impacted as it might have been. Things aren't great, but they aren't dire.
There are hopes that this upcoming ski season will be more profitable as the economy begins to recover.
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