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Keystone, Breckenridge see dip in skiers

Bob Berwyn
Summit County correspondent
Aspen, CO Colorado

SUMMIT COUNTY ” Skier days dipped slightly from last year at Breckenridge and Keystone for the three months ending Jan. 31, 2008, but Vail Resorts chief executive officer Rob Katz said real estate sales in Breckenridge are strong.

Vail Resorts released a quarterly earnings statement on Monday showing a slight drop in revenue from last year.

Breckenridge reported 774,000 skier visits during Vail Resorts’ second fiscal quarter, down 4 percent from last season (743,000 skier days).



At Keystone, skier visits were down 4.5 percent during that same period, from 598,000 last season to 571,000 this winter.

Chief Executive Officer Rob Katz said the slight decline stemmed from a lack of early season snow. October and November 2007 were dry and warm.




By contrast, the 2006-’07 season started with big snows in October.

But once the snow started falling this winter, skiers and snowboarders came out in big numbers between Christmas and the end of January. Ticket revenues for that period climbed 11.1 percent over the same period last year.

In a prepared statement, Katz said the sales launch of 88 new ski-in, ski out units at One Ski Hill Place at Peak 7 in Breckenridge was a big success.

The 66 units released so far have been selling for $1,244 per square foot, 29 percent higher than the price for the Crystal Peaks units that went on the market last year.

“We have 38 units under contract, representing gross sales proceeds of $54.5 million,” Katz said.

Vail is looking at spending about $60 to $68 million in discretionary capital, with the new eight-seat gondola at Keystone near the top of the list of projects. Breckenridge is also looking at getting some new snowmaking equipment for Peak 7.

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