Selling season’s passes to its ski and winter resorts gave U.S.-based Intrawest Resorts Holdings Inc. a much-needed increase in the second quarter, because it attempted to weather the warmest December on record.
Denver, Colo.-based Intrawest, which operates popular United states properties including Mont Tremblant in Quebec and Blue Mountain in Ontario, said season pass sales increased six per cent when compared to prior year. It generated US$111.29 in revenue for every skier who visited a resort, or 13 percent more. The only problem for Intrawest is the number of skier visits nosedived during the period by 27 percent to 627,810.
Total sales attributed to the company’s mountain segment fell to US$79.4 million during the 3 months ended Dec. 31, from US$94.7 million in the last year. It generated less across every category including ski lifts, lodging, ski school, food retail and rental. Overall, it posted a net loss of 60 cents US per share, which, all things considered, seemed to have pleased executives during Wednesday’s earnings call with analysts.