Mar. 21
Net income attributable to Vail Resorts jumped 27.5% in the second fiscal quarter of 2017 compared to the same quarter last year as the Colorado resort giant generated higher revenues from its Whistler Blackcomb ski resort, ski schools and food and beverage, the company said.
Despite a weak start at the company’s U.S. resorts, Vail Resorts is expecting a brighter outlook for the fiscal year 2017. The estimated yearly profit is between $196 million and $222 million, the company said.
"Results from Whistler Blackcomb in the second quarter of fiscal 2017 were stronger than our initial expectations and helped to offset the slower start at our U.S. resorts,” Rob Katz, the company’s CEO said.
The Whistler Blackcomb ski resort, together with robust destination guest spending trends in the company’s other facilities, brought Vail Resorts a second-quarter profit of $149.2 million, up from $117.0 million a year earlier.
Vail Resorts is going to increase its quarterly cash dividend by 30% to $1.053 per share, the company said in a report.
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