WHISTLER, B.C. – The company that operates the Whistler Blackcomb mountain resort in British Columbia says its summer operations are doing well and its advance sales for the 2015-16 ski season are encouraging — especially given last winter’s tough conditions.
Whistler Blackcomb Holdings Inc. (TSX:WB) says its total revenue for the three months ended June 30 was $35.2 million, up 2.1 per cent from $34.5 million a year earlier.
The total number of visits was also up 2.3 per cent and revenue per total visit was virtually unchanged, as a decline in ski visits was more than offset by increases in other visits.
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The bottom line also improved, with a smaller net loss and higher adjusted earnings after excluding taxes and other items.
The net loss was $9.8 million, down from 10.2 million, while adjusted earnings before interest, taxes, depreciation and amortization rose to $3.3 million from $2.4 million.
Chief executive Dave Brownlie says the 2014-15 ski season was one of the most challenging winters in Whistler Blackcomb’s history, so he’s pleased with the third-quarter results.
“Our summer operations are currently in full swing and, based on our results to date, we are benefiting from strong momentum in visitation as well as improved guest spending patterns,” Brownlie said Thursday in a statement.
“Looking ahead to next ski season, our season pass and frequency card sales to date are encouraging and demonstrate the strong loyalty of guests in our regional market.”
Over the nine months that began Oct. 1, Whistler Blackcomb experienced a nine per cent decline in skier visits. That was only partially offset by other types of visits for an overall 6.6 per cent decline to 1,989 total visits from 2,130 a year before.
Despite fewer guests, total revenue was up 1.6 per cent over the nine-month period to $226.7 million, from $223.2 million, as revenue per visit increased by 8.8 per cent to $113.96 from $104.77.
Net income was $32.2 million, up from $29.5 million, while adjusted earnings were down slightly to $89.7 million from $90.5 million due to higher expenses for operations, administration and marketing.
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