Resort revenue - excluding income from real estate operations -for the quarter ending Oct. 31 has increased 8.1% to $61.5 millionfrom $56.9 million in the comparable period for fiscal 2000. Totalquarterly revenues - including real estate operation income - hasgrown 7.0% to $70.4 million in comparison to $65.8 million in lastyear's first fiscal quarter. There is a reported $18.5-million lossfrom resort operations before interest, income taxes, depreciationand amortization, but it still reflects a 9.5% improvement overlast year's reported loss of $20.4 million. The ski resort operatoreach year anticipates a first-quarter loss due to the seasonalnature of its resort business. The quarter's net loss has totaled$21.2 million, or 61 cents per diluted share in comparison to lastyear's $22.4 million, which had equated to 64 cents per dilutedshare.

At the company's Colorado ski resorts, Keystone had been firstto kick off the season by opening Oct. 28, followed by BreckenridgeNov. 3. Vail had opened Nov. 15, two days earlier than expected andBeaver Creek, on schedule with a Nov. 17 opening. As a result ofminimal ski operations in the first fiscal quarter, it had beenexpected that total skier days would be nominal.

"Vail Resorts performed well during the first quarter of fiscal2001, benefiting from continued solid performance by the GrandTeton Lodge Co. as well as the expansion of summer activities atour Colorado ski resorts, including the opening of the River Courseand the expanded Conference Center at Keystone," says Adam Aron,chairman and CEO of Vail Resorts.