The ski market shrunk 11 percent last year, taking the number of Britons who take ski holidays to below one million per annum. However the market is poised for an upturn, according to Crystal Ski’s influential annual report.
The following commentary is offered by Ken Schapiro, President of Condor Capital: Despite the disturbing ski industry news last week that resort operator Intrawest ULC had missed a debt payment on a $1.4 billion loan, the ski business is holding its own in the midst of nationwide travel revenue declines. All signs point toward a modest 3% to 5% revenue drop for mountain resorts nationally, which compares favorably with travel industry trends.
The outlook for skiing in 2009/10 remains uncertain for skiers and the ski business alike. Despite last season’s excellent snow conditions, the feelgood factor has yet to transfer to the forthcoming season, and operators are bracing themselves for a tough season.
Confidence is returning to the ski industry with 80 per cent of skiers who did not ski last year planning to return to the slopes this season.