Resort and travel operations revenue and profit contribution increased to $129.3 million and $7.1 million, respectively, from $54.4 million and $3.5 million, due mainly to the $70.5 million contribution from Intrawest's 67 percent interest in Abercrombie & Kent, the luxury adventure-travel company. Excluding Abercrombie & Kent, resort and travel operations revenue increased 8 percent over the first quarter last year, led primarily by growth at Whistler Blackcomb and Sandestin.
Management services revenue and profit contribution increased to $35.1 million and $5.7 million, respectively, from $24.5 million and $2.6 million primarily as a result of increased service fees for real estate development and sales services and higher property rental management fees. Occupied room nights in the first quarter increased 5 per cent over the first quarter last year and average daily rates increased 7 per cent.
Revenue from real estate development decreased to $39.6 million from $193.3 million in 2003. In addition to lower unit sales in first quarter 2005, first quarter 2004 revenues received a one-time boost from sales to Leisura, Intrawest's separate resort development partnership. The decline in revenue decreased the profit contribution from real estate development to $5.5 million from $14.5 million in the first quarter last year.