Check out market updates

Vail: Skier visits grow, earnings fall

BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) saw more skiers visit its resorts in the second quarter of its 2023 fiscal year but the Broomfield company’s profitability tumbled a bit.

Revenues for the most recent period were $195.2 million, up 21% from the second quarter of 2022.

Vail’s net income was $208.7 million in the second quarter of 2023, down from $223.4 million in the same period of 2022.

Season-to-date skier visits were up 3.6% year over year. 

“Overall we are pleased with the strong guest experience being delivered at our resorts, supported by the investments we made in our resorts and in our employees, which enabled greatly improved staffing levels and employee satisfaction scores, a return to normal operations and strong guest satisfaction scores,” Vail CEO Kirsten Lynch said in a prepared statement. “Our ancillary businesses, including ski school, dining and retail/rental, experienced strong growth compared to the prior year period, when staffing shortages constrained capacity of ancillary businesses. We believe these investments in staffing and our commitment to enhancing the guest experience establish a strong foundation for future growth.”

Vail is projecting net income for fiscal year 2023 to be between $282 million and $328 million.

Source: BizWest