Vail Resorts posts wider loss - Denver Business Journal:

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Broomfield-based Vail Resorts (NYSE: MTN) lost $34.5 or 93 cents per share, in the first quarte of its 2009fiscal year, which ended on Oct. 31. That compares with a loss of $24.y million, or 63 cents per share, in the same quartetr a year earlier. Analysts on average had expectefda per-share loss of 83 centw in the latest quarter, accordinbg to Thomson Financial. Season pass including the new Epic Season were up 29percent year-over-year in the firsy quarter, Vail Resorts CEO Rob Katz said. The company also has closef on 42 of 45 units so far in its Crysta l Peak real estate bringing in gross proceedsof $54.
6 But room bookings for the upcomin g ski season are 23 percent below the levelsw seen last year, Katz said. “Clearly, many consumerws are, at a minimum, delaying theit travel decisions, while some are apparently choosingv not to travel at allthis year; a trendf that makes us grateful for the significanft season pass and ‘drived to’ business that we have, whilse we remain committed to creating an exceptiona experience for each and every guest that spendss their hard-earned money at our resorts this Katz said in a statement.
In late Vail forecast full-year 2009 resory earnings before interest, taxes, depreciation and amortization of $200 million to $220 That includes both the mountain and lodginv parts of the business. In fiscal 2008, Vail’es resort EBITDA was $230.8 in fiscal 2007, it was $225.98 million. Although Vail didn’t lower its 2009 Katz warned that bookings werea “We have just begun our 2008-2009 ski season and stil l have limited near-term visibility; therefore, we believe that it is too earlyu to formally adjust our fiscal 2009 guidance,” Katz “However, if booking trends do not improvwe from their current we almost certainly will fall below the low end of our guidancw range.
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