SAM Magazine-Broomfield, Colo., Mar. 18, 2011-Vail Resorts (VR) second-quarter net income rose 34 percent as ample snow and the improving economy brought more people out skiing, and the addition of Northstar-at-Tahoe boosted results.

Net income during the quarter rose to $54.6 million, from $40.7 million a year earlier. VR's revenue rose 29 percent, to $388.1 million from $300.5 million.

Excluding the newly acquired Northstar-at-Tahoe, visits to VR resorts rose 8.7 percent from a year earlier. This was aided by an 11 percent increase in visits by season's passholders. Total season pass sales for the 2010-11 season, which are recorded as revenue in our second and third fiscal quarters, were up approximately 18.9 percent over the 2009-10 season-and up approximately 9.1 percent excluding Northstar-at-Tahoe. Effective ticket price (ETP) declined slightly, due to the increased visitation per pass and the addition of Northstar-at-Tahoe, according to VR. Lift revenue for the quarter ending on Jan. 31 rose 8.2 percent from the previous year.

Again excluding Northstar-at-Tahoe, ancillary revenue was up across the board. Both retail/rental and dining revenue rose 14.4 percent, and ski school revenue jumped 11.7 percent. The increases return these departments to roughly pre-recession levels.

Lodging revenue at Vail-owned hotels and managed condominiums rose 18.3 percent from the previous second quarter, with occupancy up 6.3 percent and the important category of revenue per available room up 14.7 percent.

The lodging division also benefited from increased visitations, as both group and transient room nights increased in the quarter, including a rebound at Keystone-the area had dragged down lodging results a year ago.

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