Vail Resorts Posts Larger 4th-quarter Loss

BROOMFIELD, Colo. (AP) — Vail Resorts Inc. reported a bigger fiscal fourth-quarter loss on Thursday partly on a large decline in real estate revenue, but the results were better than Wall Street expected.

The ski resort operator lost $38.7 million, or $1.07 per share, compared with a loss of $11.1 million, or 29 cents per share, during the same time a year ago.

Analysts predicted a larger loss of $1.09 per share, according to a Thomson Reuters poll. Analysts' estimates typically exclude one-time items.

Revenue for the period ended July 31 slid 62 percent to $101.9 million from $270.5 million, but surpassed Wall Street's $96.6 million forecast. The real estate segment took the biggest hit, with revenue dropping to $20.8 million from $184.6 million. Mountain revenue dipped to $36.2 million from $37.5 million, while lodging revenue declined to $44.9 million from $48.3 million.

Vail Resorts is one of many lodging and leisure companies that has been hurt by consumers' discretionary spending pullback. While people may still opt to ski, they may be skiing less frequently or deciding not to book a room and just do a day trip in an attempt to save some cash.