Vail Resorts is opting for snow over sand, narrowing any new additions to its tony Rock Resorts portfolio to only its ski areas.
“The current economic and real estate environments make it difficult to realize the benefits of growing our lodging division outside of our mountain resorts and the National Parks,” Rob Katz, chairman and chief executive of Vail Resorts, said in a statement released Wednesday. “We believe that by narrowing the focus of our Lodging segment, we will provide an enhanced experience for our guests and better long-term profitability.”
Vail will continue to look for slopeside properties at its six ski areas in Colorado and California but is dismissing new acquisitions like its recent addition of resorts in the Caribbean.
In fiscal 2011, the company’s lodging segment generated $214.7 million in revenue, compared with $195.3 million in fiscal 2010.
Lodging contributed 18.4 percent of the company’s total revenue in 2011, compared with 21.8 percent in 2010 and 20.3 percent in 2009. In fiscal 2011, the company reported an average daily rate of $243.85 and revenue per available room of $93.82, up from an average daily rate of $235.02 and revenue per room of $88.14 the previous year.
Jason Blevins: 303-954-1374 or jblevins@denverpost.com
Vail’s RockResorts properties
Owned
The Lodge at Vail, 164 rooms*
•The Arrabelle at Vail Square, 87 rooms*
•The Pines Lodge, Beaver Creek, 68 rooms*
•The Osprey at Beaver Creek, 47 rooms*
Managed
•Half Moon Rose Hall, Jamaica, 398 rooms
•La Posada de Santa Fe (N.M.), 157 rooms
•Snake River Lodge & Spa, Teton Village (Wyo.), 153 rooms
•The Landings St. Lucia, 78 rooms
•One Ski Hill Place, Breckenridge, 51 rooms
•Balcones del Atlantico, Santo Domingo, Dominican Republic, 16 rooms
•Alma del Pacifico, Costa Rica, 20 rooms
•*-Includes individual owner units that are in a rental program managed by RockResorts
