Vail Resorts Reports Certain Ski Season Metrics for the Season-to-Date Period Ended April 24, 2011

BROOMFIELD, Colo., April 28, 2011 /PRNewswire/ -- Vail Resorts, Inc. (NYSE:  MTN) today reported certain ski season metrics for the comparative periods from the beginning of the ski season through April 24, 2011, and for the prior year period from the beginning of the ski season through April 25, 2010.  The data mentioned in this release is interim period data and subject to fiscal quarter end review and adjustments.

Highlights

• Season-to-date lift ticket revenue at the Company's six mountain resort properties, adjusted as if Northstar-at-Tahoe (acquired in October 2010) was owned in both periods, and including season pass revenue for each period, increased by approximately 8.0% through April 24, 2011, compared to the prior year period ended April 25, 2010.
• Season-to-date total skier visits for the Company's six mountain resort properties, adjusted as if Northstar-at-Tahoe was owned in both periods, were up approximately 3.9% through April 24, 2011, compared to the prior year season-to-date period ended April 25, 2010.
• Season-to-date ancillary revenue increased at the Company's six mountain resort properties, adjusted as if Northstar-at-Tahoe was owned in both periods, with ski school up 8.4%, dining up 9.0% and retail/rental higher by 8.3% through April 24, 2011, compared to the prior year season-to-date period ended April 25, 2010.

Commenting on the recent ski season, Rob Katz, Chief Executive Officer, said, "The 2010-2011 ski season has come to a close and we are pleased with the ski season metrics across our six resorts.  Our increased metrics held up despite very strong Spring Break/Easter metrics in the prior year and a very late Easter holiday in the current year.  Consistent with our concerns, the timing of Easter did have a negative impact on our metrics for the period, but we should note that Easter next season will be at a much earlier and favorable date, April 8, 2012.  It was especially good to see the rate of growth in lift ticket and ancillary revenue continue to outpace skier visits due to price increases across our lift ticket and season pass products, together with increased spending per visit."

Below is a table highlighting the season-to-date metrics for our six resort properties, adjusted to include Northstar-at-Tahoe as if it was owned in both periods.  Had Northstar-at-Tahoe been excluded for both periods, the results would have been similar to those reported.  

Vail Resorts, Inc., through its subsidiaries, is the leading mountain resort operator in the United States.  The Company's subsidiaries operate the mountain resort properties at the Vail, Beaver Creek, Breckenridge and Keystone mountain resorts in Colorado, the Heavenly Ski Resort and Northstar-at-Tahoe in the Lake Tahoe area of California and Nevada, and the Grand Teton Lodge Company in Jackson Hole, Wyoming.  The Company's subsidiary, RockResorts, a luxury resort hotel company, manages casually elegant properties across the United States and the Caribbean.  Vail Resorts Development Company is the real estate planning, development and construction subsidiary of Vail Resorts, Inc.  Vail Resorts, Inc. is a publicly held company traded on the New York Stock Exchange (NYSE: MTN).  The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.

Statements in this press release, other than statements of historical information, are forward looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.  Such risks and uncertainties include but are not limited to prolonged weakness in general economic conditions, including adverse affects on the overall travel and leisure related industries; unfavorable weather conditions or natural disasters; adverse events that occur during our peak operating periods combined with the seasonality of our business; competition in our mountain and lodging businesses; our ability to grow our resort and real estate operations; our ability to successfully complete real estate development projects and achieve the anticipated financial benefits from such projects; further adverse changes in real estate markets; continued volatility in credit markets; our ability to obtain financing on terms acceptable to us to finance our real estate development, capital expenditures and growth strategy; our reliance on government permits or approvals for our use of Federal land or to make operational improvements; adverse consequences of current or future legal claims; our ability to hire and retain a sufficient seasonal workforce; willingness of our guests to travel due to terrorism, the uncertainty of military conflicts or outbreaks of contagious diseases, and the cost and availability of travel options; negative publicity that diminishes the value of our brands; our ability to integrate and successfully realize anticipated benefits of acquisitions or future acquisitions; and implications arising from new Financial Accounting Standards Board ("FASB")/governmental legislation, rulings or interpretations.

SOURCE Vail Resorts, Inc.