Vail Resorts reports 4.6% increase in lift ticket revenue for this season

Posted By: The Ski Channel on April 21, 2010 7:53 am

Nice! We’re happy to report that Vail Resorts has reported a 4.6% increase in lift ticket revenue for the ski season (as of April 18th). We love hearing that more people came out to ski and snowboard this season! Many more people purchased season passes this year, which helped contribute to this number.

More good news from Vail is that at the beginning of this month, they increased wages for year-round employees by 2%. Seasonal employees will get a pay raise when they come back at the beginning of next season.

Additionally, at the beginning of this month, Vail partially reinstated its contribution to its pension program. “With our business improving, we wanted to immediately begin to restore some of these reductions to our employees, with further potential restorations to be reviewed again in the upcoming fiscal year,” Chief Executive Rob Katz said in a statement.

Here’s a summary of Vail’s report in numbers:

 * Total skier visits up about 2.3 pct

* Says employees to get 2 pct interim wage hike

* Says to partially reinstate contribution to 401(k)

* Shares up as much as 2 pct