VAIL SUCKS

[2Planker]

Well lets start with basically every family for one. I only have one kid, and his schedule is more booked out than mine and he doesn't even have a job.

I would argue strongly against your golf example also, where I have had to have a tee time every time I've played (setting aside the exclusivity of the best courses requiring a membership, which doesn't help your argument either).

Just spent a week golfing in Scotland and many places

They might need to start selling. Maybe the dark cloud over NH will lift soon

They've had 2 legit offers for the Cat.....

 

[ss20]

Every customer facing manager I know claims the consumer is very well trained to pre-buy at this point. This notion of the walk up customer being any sort of real driver of skier visits (and this isn't unique to skiing either) is pretty outdated.

I mean my wife and kid had to make advance purchases for Santa's Village tickets for their trip today. In my lifetime I haven't been to a single concert where I didn't buy in advance. Same for sports tickets. It is not hard and most people actually prefer to just buy a ticket from their couch on their phone rather than wait in some line the day of when you are just eager to get in and start having fun. About the only thing I actually buy day of currently is a movie ticket, and even then, its like 50/50 prebuy for me.

In terms of the dividend yield, I suspect the 5% yield will be tough to maintain. That said, the entire outdoor industry had ridiculous ride over Covid. In 2021 outdoor pursuits were the only thing people were allowed to do really (in a quasi normal fashion) given Covid restrictions and no one could say with any certainty that wouldn't be a long term development. So I think the stock price had a little irrational exuberance behind it. Ultimately revenue was still up for Vail regardless so until that starts dropping, dividend should remain.

Yes but a skiing day trip has always been a last minute, plan it when the snow flies kinda thing. You can't have that be the industry standard and then double your walk up rate over the course of 5 years. They've alienated literally that entire market.

 

[doublediamond]

This notion of the walk up customer being any sort of real driver of skier visits (and this isn't unique to skiing either) is pretty outdated.

Absolutely 100% flat out incorrect.

A small southern NE area paid for a new carpet with CASH from one day of ticket sales after a well-timed holiday week snowstorm recently.

 

[urungus]

from NSAA press release at end of 2023-34 season:

Season Pass Visitation Remains Strong
Season passes remain the primary access product used by skiers and riders for the fifth consecutive season. Season pass holders made up 50% of visits nationally, with standard day or multi-day lift tickets claiming 31% of visits. The balance is claimed by frequency products (showing a 3 ppt increase this season), off-duty employees, complimentary products, etc.

source:

U.S. ski industry celebrates resilient season

 

[urungus]

What’s a “frequency product” ?

 

[ss20]

What’s a “frequency product” ?

My ASSumption- that is likely what they call the various programs that used to be more popular in the day where you'd buy a frequent skier card for $100, then it'd give you 30% off weekend tickets, half off midweek tickets, and bill direct to your card on file. Something we actually still have at Alta, but largely removed from the industry.

 

[doublediamond]

Who compiled those numbers? Vail claims their Epic Day Pass is a season pass product but in reality it isn't - it's a pre-purchased day ticket pack.

(Edited phraseology)