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November 24, 2008

Aspen Times Article on Business Climate at Aspen

Check the article on Aspen preparing for the economic slowdown:

ASPEN — The leadership of the Aspen Skiing Co. anticipates business could drop between 5 and 15 percent this season.

David Perry, Skico’s senior vice president, mountain division, said tough economic times make it difficult to gauge what will happen, but the company is braced for business to go downhill. The projection for a 5 to 15 percent decline is based on current lodge and hotel bookings in Aspen and Snowmass Village.

Skier and snowboard rider visits are the industry standard for gauging business. A visit is the purchase of a lift ticket or use of a season pass for any part of a day.

“This is an unprecedented circumstance we find ourselves in,” Perry said. “It’s really difficult to look historically at the business ups and downs and say ‘Oh, it’s just like ’91 or it’s just like after September 11th.’ It’s not. This is different. It’s global, it’s deep, and there’s still big turmoil...

Some resorts are responding to the global economic crisis by cutting back on staff. Intrawest, one of the giant operators in the ski industry, acknowledged last week it is laying off employees at resorts, including Steamboat, Copper Mountain and Winter Park in Colorado. Intrawest didn’t disclose how many people will lose their jobs.

It is gonna get rough out there. But it is a good time to look for deals.

Posted by Justin at November 24, 2008 02:44 PM

Comments

I'm here in my Aspen Hotel right now, for a quick lunch checking email, and getting ready for round two of the over Four-feet of snow that has fallen in the last four days. Economic crisis or not, skiing is like alcohol, it's an industry as the economy gets worse, so does the dependancy! Keep skiing....Cheers.

Posted by: Apres Ski at December 17, 2008 12:49 PM