|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
Countless business models have spawned from the IaaS industry. Resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his General Session at 16th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, broke down what we've got to work with and discuss the benefits and pitfalls to discover how we can best use them to d...
Jul. 29, 2015 01:00 PM EDT Reads: 1,943
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at DevOps Summit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.
Jul. 29, 2015 01:00 PM EDT Reads: 1,053
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Jul. 29, 2015 12:08 PM EDT
"We do data integration for B2B also application to application, and we do data management and enable Big Data," explained Pat Adamiak, Vice President, Product Marketing at Liaison Technologies, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 29, 2015 12:00 PM EDT Reads: 325
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
Jul. 29, 2015 11:00 AM EDT Reads: 257
The Cloud industry has moved from being more than just being able to provide infrastructure and management services on the Cloud. Enter a new era of Cloud computing where monetization’s services through the Cloud are an essential piece of strategy to feed your organizations bottom-line, your revenue and Profitability. In their session at 16th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, discussed how to easily o...
Jul. 29, 2015 11:00 AM EDT Reads: 355
"ProfitBricks was founded in 2010 and we are the painless cloud - and we are also the Infrastructure as a Service 2.0 company," noted Achim Weiss, Chief Executive Officer and Co-Founder of ProfitBricks, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 29, 2015 10:15 AM EDT Reads: 1,103
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Jul. 29, 2015 09:00 AM EDT
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
Jul. 29, 2015 07:30 AM EDT Reads: 273
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Jul. 29, 2015 07:00 AM EDT Reads: 178
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Jul. 29, 2015 06:00 AM EDT Reads: 1,661
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
Jul. 29, 2015 04:00 AM EDT Reads: 1,722
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
Jul. 28, 2015 11:00 PM EDT Reads: 1,356
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 28, 2015 10:45 PM EDT Reads: 1,010
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 28, 2015 08:00 PM EDT Reads: 622