Marketing Financial and Production Analysis of Vail Resorts
Finally, in 1966, the town of Vail was established. By 1985, George Gillett purchased Vail Associates and high-speed quad chairlifts were established to help the skiers get to higher elevations on the mountain. In 1992 Apollo Partners purchased Vail Associates, which in turn became Vail Resorts Inc., which was followed by the acquisition of ski resorts Keystone and Breckenridge. The acquisition of these ski resorts was a major change that helped Vail succeed in the long run by appealing to a broader market. Both Keystone and Breckenridge have lower prices than Vail Mountain and attract more single- and college-aged customers (Vail Resorts).The company then added the Real Estate segment which comprised 6 percent of the company’s total revenues in 2004. Mountain revenues account for 69 percent, and revenues from lodging activities account for the remaining 25 percent. Having these additional revenues allowed Vail to establish itself and provide a greater level of customization to its guests. Owning a house on the mountain allowed skiers to visit more frequently during the winter season, as well as have a getaway during the summer season (Vail Resorts).Vail owns four different ski resorts in Colorado, a resort in Lake Tahoe California, as well as a summer resort in Grand Teton. Along with these six resorts, Vail owns Rock Resorts which is a management company that manages 10 luxury resort hotels across the United States (Vail Resorts).Vail Resorts offers a complete package to the vacationer of all ages. These activities can range from indoor to outdoor activities that can accompany the visitor during all months of the year for any occasion. All of the products that Vail offers will be complete with upscale, top-quality amenities.The majority of Vail Resorts visitors are there for the challenging ski terrain and the top quality service. Vail offers some of the most challenging ski terrains Colorado has and offers instructional courses for beginning to expert skiers. Select resorts have begun offering instructional ski lessons for select individuals.