SnowNews

Top three operators struggle in stagnant ski industry

The Salt Lake Tribune reports that the big-three ski-resort operators in the United States reported a variety of activities - and results - this week as they struggle to improve bottom lines in a stagnant industry. Park City-based American Skiing, which owns The Canyons Resort nearby, said its net loss for the quarter ending Oct. 24 was $37.7 million, an improvement over the $41.3 million deficit in the same three-month period a year earlier. Vail, meanwhile, said its loss for the three months ending Oct. 31 was $31.5 million, or 89 cents per share, compared to a loss of $25.4 million, or 72 cents per share, a year ago. Revenue fell to $97.9 million from $104.1 Intrawest, the world's largest public resort operator and owner of giant Whistler/Blackcomb resort in British Columbia, stock rose just 4 percent in the past year well below the sector average.

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posted by davidof @ 11:36 AM