RECORD DEMAND AT SKI RESORTS
SKI resorts at Perisher, Hotham and Falls Creek witnessed record demand from skiers and snowboarders in 2022 as two years of cancelled ski seasons due to Covid-19 exploded into people swarming the slopes.
And there is growing evidence that despite the rising cost of living, snow fans didn’t rein in spending.
Vail Resorts, the US operator of popular snow resorts across North America as well as Australia’s biggest ski fields at Perisher, Hotham and Falls Creek, highlighted record demand at its Australian resorts to investors in its latest earnings update.
“All three of our Australian resorts had record years and I think that’s some pent-up demand because of Covid impact in Australia,” Vail Resorts chief executive Kirsten Lynch told US investors at the company’s fourth-quarter earnings results presentation.
Ms Lynch was asked if rising inflation was causing trouble in Australia and if there was anything to glean from that season in terms of spending or behaviour, such as the length of stay by skiers, and what that meant for the upcoming North American winter.
She said Australian consumers were still spending despite elevated inflation.
“I would say, right now, as we look forward into this coming (North American) season, feeling like the indicators for us are strong,” she said.
Vail Resorts chief financial officer Michael Barkin added: “While we are cognisant that the broader economic outlook remains uncertain … we remain encouraged by our season-todate advanced commitment sales results.”
Vail Resorts owns some of the most popular ski resorts in North America in Colorado, Utah, California and in Canada.
Its Australian ski operations were shut down over the past two years but have rebounded amid some of the best snow conditions in decades this winter and the pent-up demand from local snow enthusiasts.