Skier visits are down but profits are up!
According to Joanne Kelley of the Rocky Mountain News, Vail Resorts reported profits of $78.5 million for their fiscal third quarter, a 15% increase over the same period last year. While overall skier visits at all Vail Resorts combined was down 1.1%, the resorts attracted more out of town visitors. Rob Katz, Vail Resorts CEO, attributes the increase in profitability to more "destination" skiers who spend more because they need lodging and meals and tend to take ski lessons and spend more in retail outlets.
Sounds like the strategy for Killington
From what we've heard from the new owners of Killington, they seem to be focused on improving the overall guest experience. This may mean a reduction of the number of skier visits because of higher prices, discouraging weekenders and day-trippers from making the "trek." However, I expect to see attractive ski and stay packages encouraging "destination" visitors to come and stay a while. This should enhance the rental income potential for property owners and improve the business income for retailers and restaurant owners. I guess we'll just have to wait and see.