SAM Magazine--December 8, 2009--Vail Resorts released its first quarter numbers for fiscal 2009, which were down from 2008. Overall revenue dropped 47 percent, from $152.8 million in the first quarter of 2008, to $80.8 million in 2009.

In the mountain segment, revenue was $40.8 million, compared to $42.5 million in the first quarter of fiscal 2008. The EBITDA for that same segment was a loss of $39.4 million compared to a loss of $36.4 million in 2008.

"The company's results for the first quarter cover a seasonally low period in which we historically incur a substantial loss," says Rob Katz, CEO. "The results were generally consistent with our expectations."

In the lodging segment, revenue was $45.3 million in the first quarter compared to $43.3 million during the same quarter in 2008. Lodging EBITDA, however was $0.4 million in 2009 compared to $2.1 million in 2008. Other bad news in lodging is that advance bookings to date are down 23 percent in room nights compared to last year, but that is in keeping with the rest of the industry.

One bright spot was a 29 percent increase in sales dollars for season passes over the same period last year.