Snow Boosts Early Ski Resort Earnings
Best Early Season Skiing Conditions In A Decade
Last Updated: 894 days ago
The long-held belief in the ski towns was the greatest barometer for how lucrative the ski season will be is the snow.If the winter brings storm after storm, the people will flock to the slopes, regardless of the economy, so the belief goes.So far, that scenario is playing out in Colorado's high country.Vail Resorts reported encouraging signs during its first quarterly report to investors.According to the report, season pass sales were up five percent and the amount of money earned was up seven percent, due to a price increase.Kelly Ladyga, Vice President of Corporate Communications at Vail Resort, said those increases are a good indicator that the economy is turning around. Ladyga said Rob Katz, CEO of Vail Resorts, recently stated in an interview that the company is beginning to see signs that the economy is beginning to perform better."Several of our higher-end properties are completely sold out during the key holiday periods," Ladyga said. "A couple of years ago, you could still find availability at Christmas time. It is a different story this year."However, she added there were other signs that the large amounts of snow falling this early in the season are bringing out visitors."Retail sales are also strong," Ladyga said. "People are making their commitment to skiing. And being able to open our resorts with 10 times the amount of runs open this Thanksgiving weekend compared to last Thanksgiving, that gets people to the slopes."It's sort of the perfect storm," she said.Loryn Kasten of Steamboat Springs Resort agreed with Ladyga's assessment. She said opening day at Steamboat -- traditionally a fund raising day for students -- was record breaking."The start to the season has been phenomenal for us to be able to come out of the gate with a record breaking amount of snow," she said. "It was a tremendous way to open."Kasten said holiday bookings are solid, as well."The holiday season is an important one," she said. "Just because how hand-in-hand winter vacations and that holiday go."Steamboat announced it will open additional terrain and lifts on Friday, bringing the mountain up to 90 percent open terrain and 144 trails.