Vail Resorts has announced a $34.5 million loss for the first quarter of the group’s 2009 fiscal year, which ended on October 31st.
This compares to a $24.6 million loss in the same quarter the previous year for the company which owns Beaver Creek, Breckenridge, Keystone and Vail resorts in Colorado as well as Heavenly in California.

On the plus side season pass sales were reported to be up nearly 30% and property sales were also reported to be progressing well.
However room bookings were down by more than 20% and the company is reported to be laying off staff to cut costs.

Clearly, many consumers are, at a minimum, delaying their travel decisions, while some are apparently choosing not to travel at all this year; a trend that makes us grateful for the significant season pass and ‘drive to’ business that we have, while we remain committed to creating an exceptional experience for each and every guest that spends their hard-earned money at our resorts this year,”

said Vail’s CEO Rob Katz in a statement.
Mr Katz warmed that if bookings do not pick up the group’s sales in 2009 were likely to be “Below the low end of our guidance range.” referring to target sales for 2009 announced previously.