Intrawest reports another uptick in season pass sales | SteamboatToday.com

Intrawest reports another uptick in season pass sales

Scott Franz

— The parent company of the Steamboat Ski Area is reporting another uptick in season pass sales at its resorts ahead of the upcoming ski season.

Intrawest’s latest earnings report shows sales of the company’s season and multi-day passes are up 10 percent compared to last year.

The company saw a similar uptick in season pass sales at the same time last year.

Intrawest announced on March 10 its new MAX Pass, which gives skiers and riders access to 22 different resorts, a number of them under different ownership.

A full adult season pass at Steamboat now costs $1,379, while a six-day pass costs $579.

The 15-day pass costs $1,019.

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In its quarterly earnings report, which covers July through September, the company broke down its revenue totals in its mountain, adventure and real estate segments.

Revenue in the mountain segment increased by $13.4 million to $49.8 million.

Intrawest attributed much of that growth to its recent acquisition of the remaining stake in the Blue Mountain ski resort in Ontario.

Real estate revenue took a hit to the tune of $3.3 million.

Intrawest attributed some of that loss to fires near the Whistler Blackomb area and the associated smoke that limited tours at the sales center.

But blazes in other areas proved a boon to the company, because its helicopters were used more in firefighting efforts.

Overall, the company’s revenue was up 15.9 percent over the same quarter last year.

The company’s net loss was $47 million, an improvement from the $51 million loss in the first quarter of fiscal year 2015.

To read the full earnings report, click here.

To reach Scott Franz, call 970-871-4210, email scottfranz@SteamboatToday.com or follow him on Twitter @ScottFranz10