Peak Resorts Reports Record Season Pass Sales
19 Dicembre 2018 - 10:30PM
Peak Pass Revenue Up 20%
Year-Over-Year
Peak Resorts, Inc. (NASDAQ:SKIS) (“Peak” or the “Company”), a
leading owner and operator of U.S. ski resorts, today reported
record season pass sales for the 2018/2019 ski season through
December 17, 2018. Company-wide season pass sales – including
season pass sales to customers of the newly acquired Snow Time
properties for the 2018/2019 ski season – are up by approximately
36% on a unit basis and by approximately 38% on a revenue basis,
compared with the prior year. In addition, 34% of Snow Time season
pass holders upgraded to a Peak Pass.
Peak Pass sales are up by approximately 18% on a
unit basis and by approximately 20% on a revenue basis, compared
with the prior year. Sales of the Drifter Pass, Peak Resorts’
unlimited season pass option for 18 to 29-year-olds, are up 27% on
both a revenue and unit basis over the prior year.
Timothy D. Boyd, President and Chief Executive
Officer, commented, “The 2018/2019 ski season is off to a great
start, as we set new records company-wide on sales of our season
passes. This momentum is driven by the great guest experiences we
are offering at our mountains, with superb conditions, world-class
facilities, and increasingly varied dining and retail offerings.
Overall, sales of our Peak Pass have now far exceeded our results
from last year. In addition, strong continued growth in sales of
our Drifter Pass clearly demonstrates that our most price sensitive
guests value the experiences and access made possible by our
multi-mountain pass offerings and the proximity of our
resorts.”
Now in its third winter season, the Peak Pass
features a total of five pass options valid at 10 mountain
locations across four Northeast and Mid-Atlantic states: Mount Snow
in Vermont; Attitash, Wildcat and Crotched Mountain in New
Hampshire; Hunter Mountain in New York; and Jack Frost, Big
Boulder, Liberty Mountain, Whitetail Resort and Roundtop Mountain
in Pennsylvania.
“We are delighted to continue to provide
market-leading season pass offerings at our Northeast and
Mid-Atlantic resorts and believe that our continued investments in
snowmaking and in improving the on-mountain experience have created
an even more compelling reason for our guests to come visit,” added
Boyd. “From Mount Snow to Liberty Mountain, and from Hunter to
Wildcat Mountain, Peak Resorts’ properties have become the leading
range of day and overnight drive-to destinations for skiers and
riders across the Northeast and Mid-Atlantic. Our guests appreciate
the individual character of each of our mountains, the care we take
to offer the most consistent skiing and riding conditions, and the
unrivaled customer service and experiences which keep them coming
back to our mountains time and time again. We are excited by the
potential for the 2018/2019 ski season and beyond and look forward
to what the future has in store.”
About Peak ResortsHeadquartered
in Missouri, Peak Resorts is a leading owner and operator of 17 ski
resorts primarily located in the Northeast, Mid-Atlantic and
Midwest, 16 of which are company owned: Mount Snow in Vermont;
Attitash, Wildcat and Crotched Mountain in New Hampshire; Hunter
Mountain in New York; Jack Frost, Big Boulder, Liberty Mountain,
Whitetail and Roundtop Mountain in Pennsylvania; Boston Mills,
Brandywine, Alpine Valley and Mad River Mountain (operator only) in
Ohio; Hidden Valley and Snow Creek in Missouri; and, Paoli Peaks in
Indiana.
The majority of the resorts are located within
100 miles of major metropolitan markets, including New York City,
Boston, Philadelphia, Baltimore, Washington D.C., Cleveland and St.
Louis, enabling day and overnight drive accessibility to over 44
million residents. The resorts under the Company's umbrella offer a
breadth of activities, services and amenities, including skiing,
snowboarding, terrain parks, tubing, dining, lodging, equipment
rentals and sales, ski and snowboard instruction, and mountain
biking, golf and other summer activities. To learn more, visit the
Company’s website at ir.peakresorts.com or follow Peak Resorts on
Facebook for resort updates.
For further information, or to receive future
Peak Resorts news announcements via e-mail, please contact JCIR, at
212-835-8500 or skis@jcir.com.
Forward Looking StatementsThis news release
contains forward-looking statements regarding the future outlook
and performance of Peak Resorts, Inc., within the meaning of the
Private Securities Litigation Reform Act of 1995. The
forward-looking statements contained in this news release include,
without limitation, statements related to: the expected impact of
the acquisition of Snow Time on the Company’s overall business,
operations and results of operations; expectations regarding the
sustained effect of the acquisition on the Company’s season pass
sales; and the realization of anticipated cost and operating
synergies. These and other forward-looking statements are based on
management's current views and assumptions and involve risks and
uncertainties that could significantly affect expected results.
Results may be materially affected by factors such as: risks
associated with acquisitions generally; failure to retain key
management and employees; issues or delays in the successful
integration of the Snow Time operations with those of the Company,
including incurring or experiencing unanticipated costs and/or
delays or difficulties; difficulties or delays in the successful
transition of the operations, systems and personnel of Snow Time;
future levels of revenues being lower than expected and costs being
higher than expected; failure or inability to implement growth
strategies in a timely manner; unfavorable reaction to the
acquisition by resort visitors, competitors, vendors and employees;
conditions affecting the industry generally; local and global
political and economic conditions; conditions in the securities
market that are less favorable than expected; and other risks
described in the Company’s filings with the Securities and Exchange
Commission, including the Company’s Annual Report on Form 10-K for
the year ended April 30, 2018, as updated in the Company’s
Quarterly Report on Form 10-Q for the quarter ended October 31,
2018. Actual results could differ materially from those projected
in the forward-looking statements. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by law.
Investor Contact:Norberto Aja,
Jim Leahy, Joseph JaffoniJCIR212-835-8500 or skis@jcir.com
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