The wealthy are still skiing, and that helps Vail Resorts' bottom line, Chief Executive Robert Katz told CNBC Thursday.
"Upper-income consumers are actually doing much better," he said. "We have an average household income of about $200,000 amongst our guests, which we think is a pretty good place to be right now."
Business has been so good, in fact, that Vail Resorts has posted double-digit growth in earnings before interest, taxes, depreciation and amortization over the past couple of years despite the choppy economy, Katz said.
"What we’re seeing is those upper-end consumers are being more discerning with their time," he added. "So to the extent that we could put capital into our resorts, upgrade that experience, we’re seeing that consumer come back with loyalty [and] a willingness to pay higher prices. It’s been great for our bottom line."