Vail Resorts posts wider loss - Denver Business Journal:

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Broomfield-based Vail Resorts (NYSE: MTN) lost $34.5 million, or 93 cents per in the first quarter of its 2009fiscakl year, which ended on Oct. 31. That compare with a loss of $24.6 or 63 cents per share, in the same quartefr a year earlier. Analysts on average had expectecda per-share loss of 83 cents in the latest quarter, according to Thomson Financial. Season pass including the new EpicSeason Pass, were up 29 percentt year-over-year in the first quarter, Vail Resortz CEO Rob Katz said. The compant also has closed on 42 of 45 unitws so far in its Crystal Peak realestate project, bringintg in gross proceeds of $54.6 million.
But room bookings for the upcomint ski season are 23 percent belo w the levels seenlast year, Katz said. many consumers are, at a minimum, delayin g their travel decisions, while some are apparentlg choosing not to travel at all this a trend that makes us grateful for the significanrt season passand ‘drivr to’ business that we have, while we remainh committed to creating an exceptionak experience for each and every guest that spend s their hard-earned money at our resorta this year,” Katz said in a In late September, Vail forecasft full-year 2009 resort earnings before interest, taxes, depreciation and amortizatiom (EBITDA) of $200 million to $220 That includes both the mountain and lodgingt parts of the business.
In fiscal Vail’s resort EBITDA was $230.8 million; in fiscal 2007, it was $225.98 million. Although Vail didn’t lower its 2009 Katz warned that bookings werea concern. “We have just begu our 2008-2009 ski season and still havelimited near-term visibility; therefore, we believse that it is too earlg to formally adjust our fiscal 2009 guidance,” Katz said. “However, if booking trendws do not improve from their current level, we almost certainly will fall below the low end of our guidanced range.
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