Vail Resorts trims fiscal 2013 profit forecast
January 16, 2013
BROOMFIELD, Colo. (AP) – Vail Resorts Inc. is trimming its profit forecast for fiscal 2013, after reporting weak snowfall through mid-December at its Colorado ski resorts.
The company said Tuesday that lift ticket revenue through Jan. 13 at its seven resorts in Colorado and the Lake Tahoe area was up 4.3 percent from a comparable period last season, and skier visits were up 2 percent, thanks to a strong holiday period when more snow started falling. Ski school, dining, and retail and rental revenue also rose.
Those numbers don’t include newly acquired Afton Alps and Mount Brighton in the Midwest.
Vail Resorts now expects a net income of $39 million to $49 million for fiscal 2013, down from an earlier forecast of $50 million to $60 million.
The company also weathered weak snowfall last season.