PARK CITY, Utah — Vail Resorts, which owns Park City Mountain, reported earnings for the first quarter of fiscal year 2022 last week.
What to know:
- Pass product sales (through Dec. 5) for the upcoming season are up roughly 47% when compared to last year.
- Pass sales are up 76% compared to the 2019/2020 season.
- “We expect that the total number of guests on all advance commitment products this year will exceed 2.1 million including all pass products for our North American and Australian resorts, an increase of approximately 0.7 million from last year and an increase of approximately 0.9 million from two years ago,” Vail CEO Kirsten Lynch said.
- “We are very pleased with the results of our season pass sales, which continue to demonstrate the strength of our data analytics capabilities and the compelling value proposition of our pass products, driven in part by the 20% reduction in pass prices for the 2021/2022 season,” Lynch said.
- Lynch said that the company is seeing significant growth in pass purchases from new customers, including growth in the Northeast market.
- Over the past year, Vail’s stock is up roughly 19%.
- Vail announced the purchase of three Pennsylvania resorts last week.