Denver-based Intrawest Resorts on Friday said it had cut its year-over-year losses while boosting revenue for the quarter ending Dec. 31.
The earnings come after Intrawest, which operates Winter Park and owns the Steamboat ski area, restructured with several new executives, including replacing longtime .
Intrawest for its second quarter, compared with $122.2 million for the same period of 2013. Revenue for the same period climbed to $120.8 million from $102.1 million in 2013.
The resort operator credited the revenue bump to a 2.2 percent increase in skier visits, not including Canada’s Blue Mountain ski area, which . The company’s ticket prices increased 4 percent in the quarter and season-pass sales climbed 16.5 percent, compared with the same quarter of 2013. The company reported a 4.7 percent increase in mountain revenue for the quarter.
Citing the declining value of the Canadian dollar relative to the U.S. dollar, the company revised its fiscal-year revenue estimate downward to between $552 million and $557 million. The company’s Canadian operations include Canadian Mountain Holidays heliskiing and Tremblant ski area.
“Overall, we are pleased with our fiscal second-quarter results. We enjoyed a strong opening in Colorado and achieved revenue and skier visit growth despite some challenging early season weather and conditions in the East,” Marano said in a statement.
Jason Blevins: 303-954-1374, jblevins@denverpost.com or twitter.com/jasonblevins
