Mountain revenue increased 4.5%, driven by revenue growths in Lift, Ski school, and Dining, though this was partially offset by a decline in the retail/rental revenue. Lodging net revenue grew 4.6% on growths across all of its sub-segments.
Looking ahead into the fiscal year 2019, the company expects net income between $288 million and $335 million. Reported resort EBITDA for fiscal 2019 is projected between $718 million and $750 million.
Vail Resorts expects resort EBITDA margin to be about 31.5% in fiscal 2019, using the midpoint of the guidance range. This is an estimated 80 basis point increase over fiscal 2018. Real Estate reported EBITDA is anticipated to be between negative $3 million and positive $3 million.
Vail Resorts ended the fiscal year with $178.1 million of cash on hand, $130 million of borrowings under the revolver portion of senior credit facility and a total long-term debt of about $1.3 billion.
The company’s board of directors has declared a quarterly cash dividend of $1.47 per share of its common stock. The dividend will be payable on October 26, 2018, to shareholders of record on October 9, 2018.
In addition, a Canadian dollar equivalent dividend on the exchangeable shares of Whistler Blackcomb will be payable on October 26, 2018, to exchangeable shareholders of record on October 9, 2018.
Shares of Vail Resorts ended Thursday’s regular session down 0.89% at $286.13 on the NYSE. The stock has gained more than 34% year-to-date.