Peak Resorts (SKIS) Announces Peak Pass Sales Increased 9%
Peak Resorts, Inc. (NASDAQ: SKIS) today provided updated preliminary results for pre-season sales of its 2017/2018 Peak Pass. Through the October 18, 2017 pre-season pricing deadline, Peak Pass sales increased by approximately 9% on both a unit and revenue basis, compared to the prior year. The Company noted that sales of its Explorer Pass for 7-17 year-olds and adults over 30 years of age contributed to the strong year-to-date Peak Pass sales growth.
Unveiled for the 2016/2017 winter season, the Peak Pass features a total of five pass options valid at seven different mountain locations across four states in the Northeast. Resorts include Mount Snow in Vermont; Attitash, Wildcat and Crotched Mountain in New Hampshire; Hunter Mountain in New York; and Jack Frost and Big Boulder in Pennsylvania.
“The sales velocity to date for the Peak Pass highlights our customers’ excitement for the upcoming ski season and the value of this offering, as well as our continuous enhancements at our Northeast resorts,” said Timothy D. Boyd, President and Chief Executive Officer of Peak Resorts. “In particular, our operations team at Mount Snow had a very productive summer, completing the West Lake water project that will significantly enhance on-hill snowmaking capacity, successfully widening Long John, a signature trail, and breaking ground on the new Carinthia base lodge. We believe these and other return-focused capital investments at our resorts have set the stage for a great winter season and we are excited to begin snowmaking in the coming weeks as weather allows.”