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Park City, a Vail Resort. |
A decrease in California skier visits is pulling down the profit
margins for Vail Resorts, but an increase in their Utah and 4 Colorado resorts is
making up for it.
According to the Denver Business Journal,
Vail’s CEO, Robert Katz, said the profits from the Colorado and Utah resorts are
enough to “overcome terrible snow conditions” at Lake Tahoe.
Skier visits to Vail Resorts’ three California resorts
(Heavenly, Northstar, and Kirkwood) is down 23% percent. Katz hopes the snow
will fall in California to bring normal operations and skier visits to the
remaining portion of the season.
Robert Katz was named Chairman of the Board of Directors
for Vail Resorts in March of 2009. Prior to joining Vail Resorts, Katz was
associated with Apollo Management L.P., a private securities and investment
management firm.
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