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Vail Resorts Posts Q1 Loss

From The Denver Post
Vail Resorts Posts Q1 Loss
Vail Resorts on Tuesday announced a $60.6 million loss for the August-October quarter, compared to $55.7 million in the same period last year. The resort company's total net revenue for the quarter was $116.4 million, almost identical to the revenue from the same quarter of last year.

Vail Resorts always posts a loss in its first fiscal quarter, when its ski areas are not open and summer business fades in the fall. But the company has worked to offset that loss with season pass sales, and earlier this year acquired California's Kirkwood ski area to bolster sales of its now-seven resort, two-state Epic Pass.

Season pass sales through Dec. 2 were up 5 percent in units and 8 percent in revenue, compared to the same period last year and adjusted as if Kirkwood was already in the company's quiver of ski areas. Pass sales for its Tahoe resorts and international pass sales are fueling the increase, even though the spike is less than expected after strong sales in the spring, said Vail Resorts chief Rob Katz. Pass sales now account for 45 percent of the company's lift ticket revenue, which reached $342.5 million in fiscal 2012. Click here for the full story.


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