|By PR Newswire||
|February 4, 2014 09:39 AM EST||
MARTINSVILLE, N.J., Feb. 4, 2014 /PRNewswire/ -- Thus far, the 2013/14 ski/snowboard season has seen widely divergent performance across regions. Some areas have enjoyed robust snowfall and cold temperatures, while others are suffering from a historic dearth of precipitation. Against this backdrop, we reduce our forecast for total skier visits and now see low-to-mid single digit percentage gains over last year, or 58 to 60 million visits.
Much of the northeast U.S. has seen frigid temperatures and enjoyed several snowstorms so far this season, benefiting resorts in the region, particularly those in New York. In Colorado and Utah, solid snowfall totals have also blanketed resorts. However, in California and the Pacific Northwest, conditions have been poor. California's 25 ski resorts have seen the lowest amount of snowfall since the 1971/72 season. Mammoth Mountain, the third largest resort in the U.S. by number of visitors, has received just 48 inches of snow so far this year, compared to a 400 inch yearly average, and only has half of its 28 lifts turning. According to data from the California Department of Water Resources, the state's snowpack is only 12% of what would be considered normal for this time of the year. Since the department began collecting data in 1960, the previous record low was 21% of normal, which was registered in 1991. This hardship extends north through Washington and into British Columbia, Canada. Whistler Blackcomb, the region's flagship resort, has received only 121 inches of snow so far this season, which compares to a 10-year average of about 275 inches.
Due to this, resorts in California have experienced declines of up to 50% in skier visits. The aforementioned Mammoth Mountain has forecasted 950,000 skier visits this season, down from an average of 1.3 million. On the other hand, through December, resorts in Colorado have seen a 22% increase in visits, according to Colorado Ski Country USA. Visits in the state are now tracking 6.7% above the 5-year average as early snowfall allowed many mountains to open more terrain earlier in the season. Vail Resorts, which owns a portfolio of ski areas across the U.S., recently reported that its overall skier visits were down 0.7% year-over-year, through January 5th. Although its properties in Utah and Colorado were up 7.4%, its properties in the Lake Tahoe area saw a sharp 23.4% decline. The resiliency in its headline figure displays the advantages of having a geographically diverse resort portfolio. Intrawest Resorts, which owns resorts across the U.S. and Canada, as well as CMH, the world's premier heli-skiing operator, reported that its skier visit total was up 8% through January 5th. The company went public via an IPO on January 31st, pricing its shares at $12, well below the expected range of $15-17 per share. The struggles in California will likely strain the finances of some smaller resorts and could spark a wave of takeovers and consolidation. Results in the northeast, however, have been favorable. While resorts in Vermont have not benefited as strongly from recent storms that dumped over a foot of snow in areas of New York, Pennsylvania, and New Jersey, they have provided great marketing in major metro areas, such as New York City and Philadelphia, which helped bookings. Jay Peak in northern VT noted that business was up 24% through year-end, while Killington Resort said that business was up 9.5% year-over-year, through Christmas.
From a lodging perspective, DestiMetric's data show that occupancy at mountain resorts was up 6.2% nationally, with revenues up an even stronger 12.3%. By region, western resorts were up 6.5%, while eastern locations registered a 2.1% gain. Retailers have also benefited from cooperative weather in most areas of the U.S. SnowSports Industries America (SIA) and the Leisure Trends Group's RetailTRAK said that snow sports retailers enjoyed a record holiday season, with sales through December hitting $2.20B, beating last year's $2.01B and 2010/11's record of $2.17B. The report noted that while the drought in California hindered sales, favorable conditions in the northeast and record cold extending into the southern U.S helped drive sales, particularly for apparel. By category, equipment sales rose 6%, apparel sales gained 7%, and accessories sales jumped 15%. In the accessories vertical, action cameras experienced substantial growth, with unit sales rising 19% and dollar sales jumping 36%. The report also noted that while an improving economy and rising stock market are helpful, approximately 75% of the year-to-year variance in snow sport retail sales can be explained by weather conditions.
Overall, while weakness in California and the Pacific Northwest has created a drag, the 2013/14 ski season is off to a solid start. Should snow conditions improve in those areas, and remain strong in the rest of the country, we could see acceleration through February as viewership of the Olympics generates interest and provides widely disseminated marketing for winter sports.
Founded in 1988, Condor Capital is an employee-owned, SEC-registered investment advisor based in Martinsville, N.J. employing 15 professional and support staff. Since Condor is a fee-only, investment management firm, its fees are based on portfolio size, not sales commissions or number of trades. For more information on Condor Capital, please visit www.condorcapital.com or call 732-356-7323.
Contact: Ken Schapiro, [email protected]
SOURCE Condor Capital
Most people haven’t heard the word, “gamification,” even though they probably, and perhaps unwittingly, participate in it every day. Gamification is “the process of adding games or game-like elements to something (as a task) so as to encourage participation.” Further, gamification is about bringing game mechanics – rules, constructs, processes, and methods – into the real world in an effort to engage people. In his session at @ThingsExpo, Robert Endo, owner and engagement manager of Intrepid D...
Oct. 22, 2016 09:30 PM EDT Reads: 9,651
WebRTC adoption has generated a wave of creative uses of communications and collaboration through websites, sales apps, customer care and business applications. As WebRTC has become more mainstream it has evolved to use cases beyond the original peer-to-peer case, which has led to a repeating requirement for interoperability with existing infrastructures. In his session at @ThingsExpo, Graham Holt, Executive Vice President of Daitan Group, will cover implementation examples that have enabled ea...
Oct. 22, 2016 09:00 PM EDT Reads: 2,244
SYS-CON Events announced today that Enzu will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their online busine...
Oct. 22, 2016 09:00 PM EDT Reads: 1,250
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Oct. 22, 2016 09:00 PM EDT Reads: 3,889
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
Oct. 22, 2016 08:45 PM EDT Reads: 2,470
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
Oct. 22, 2016 08:45 PM EDT Reads: 848
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
Oct. 22, 2016 08:45 PM EDT Reads: 2,004
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 22, 2016 08:15 PM EDT Reads: 678
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
Oct. 22, 2016 08:15 PM EDT Reads: 3,779
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Oct. 22, 2016 07:45 PM EDT Reads: 1,820
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Oct. 22, 2016 07:00 PM EDT Reads: 770
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Oct. 22, 2016 06:45 PM EDT Reads: 626
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Oct. 22, 2016 06:00 PM EDT Reads: 8,964
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Oct. 22, 2016 05:30 PM EDT Reads: 492