Peak Resorts Announces Strong Pre-Season 2019/20 Season Pass Sales
May 09 2019 - 8:35AM
Peak Resorts, Inc. (NASDAQ:SKIS) (“Peak” or the “Company”), a
leading owner and operator of high-quality, individually branded
U.S. ski resorts, announced today that the Company’s consolidated
initial sales for its 2019/20 season pass offerings increased 20.8%
on a unit basis and 19.8% on a dollar basis over the prior year
through the discounted sales window, inclusive of Snow Time pass
sales in both periods.
Jesse Boyd, Vice President of Operations,
commented, “We are pleased with the continued robust growth for our
season pass products as reflected in the 20.8% year over year
growth in unit sales for the upcoming 2019/20 season, including
healthy sales of our Peak Pass, which provides customers with
unlimited skiing and riding across 14 of our Northeast,
Mid-Atlantic and Midwest resorts. Thanks to our investments and
efforts to create consistent on-mountain conditions in the face of
unpredictable weather, our customers know that their season pass
will allow for season-long access to our mountains, regardless of
weather. That consistency and the on- and off-mountain experience
we provide are drivers of our season pass sales growth. In
addition, our recent investments in customer outreach initiatives,
including data and analytics attribution, social media, and
strategic marketing and branding, are helping to better connect
Peak Resorts with our customers as we showcase the value of our
season pass offerings. We look forward to the upcoming season as we
put further investments to work to create more compelling
experiences across our mountains.”
The 2018/2019 season was one of the Company’s
longest ski seasons in its history, including 147 days of skiing
and riding at Mount Snow, 140 days at Hunter Mountain and an
impressive 150 days at Wildcat. As our attention now turns to
summer, Peak Resorts has a number of capital improvement projects
planned for its growing resort portfolio. Work has already started
on approximately $3.5 million in upgrades to the snowmaking
infrastructure at Liberty Mountain, Whitetail and Roundtop Mountain
in Pennsylvania. These investments across all three resorts will
increase pump power and water capacity and add new state-of-the-art
guns to markedly improve energy efficiency and overall
snowmaking.
About Peak ResortsU.S. The
company operates 17 ski resorts primarily located in the Northeast,
Mid-Atlantic and Midwest, 16 of which are company owned.
The majority of the resorts are located within
100 miles of major metropolitan markets, including New York City,
Boston, Philadelphia, Baltimore, Washington D.C., Cleveland and St.
Louis, enabling day and overnight drive accessibility. The resorts
under the company's umbrella offer a breadth of activities,
services and amenities, including skiing, snowboarding, terrain
parks, tubing, dining, lodging, equipment rentals and sales, ski
and snowboard instruction, and mountain biking, golf and other
summer activities. To learn more, visit the Company’s website at
ir.peakresorts.com or follow Peak Resorts on Facebook for resort
updates.
For further information, or to receive future
Peak Resorts news announcements via e-mail, please contact JCIR, at
212-835-8500 or skis@jcir.com.
Forward Looking StatementsThis news release
contains forward-looking statements regarding the future outlook
and performance of Peak Resorts, Inc., within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
are subject to a variety of risks and uncertainties that could
cause actual results to differ materially from current
expectations. These risks and uncertainties are discussed in the
Company’s filings with the Securities and Exchange Commission,
including the Company’s Annual Report on Form 10-K for the year
ended April 30, 2018, as updated in the Company’s Quarterly Report
on Form 10-Q for the quarter ended January 31, 2019. Actual results
could differ materially from those projected in the forward-looking
statements. The Company undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise, except as may be
required by law.
Investor Contact:Norberto Aja,
Jim Leahy, Joseph JaffoniJCIR212-835-8500 or skis@jcir.com
Peak Resorts (NASDAQ:SKIS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Peak Resorts (NASDAQ:SKIS)
Historical Stock Chart
From Sep 2023 to Sep 2024