Coronavirus Slashed Vail Resorts Revenues By More Than A Quarter
Vail Resorts’ revenues tumbled 27.5 percent in the last quarter compared to last year as the COVID-19 pandemic shut down its North American ski operations.
The total number of skier visits fell by almost 2,000 to 5,303 compared to the same timeframe in 2019, the Broomfield-based company said in a statement. The company plans to open its U.S. resorts for summer activities in late June or early July. Its Australian resorts will open at the same time for skiers.
It’s still unclear what next season will look like for skiers in Colorado.
“We’re very much in a constantly moving environment in terms of exactly what the ski experience will look like,” Vail CEO Rob Katz said during a conference call with analysts.
Vail is offering refunds to season pass holders whose days on the mountain were limited by the pandemic and has extended the deadline to purchase passes for next season.
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