Vail Resorts Cuts Costs as Economy Skis Off Cliff

The economy skied off a cliff this year, and despite record snowfall on Vail Mountain in Colorado, Vail Resorts is not immune to the downturn.

“Visitation’s going to be soft this year; spending is going to be soft as well,” said Robert Katz, CEO of Vail Resorts. “People are coming, but they’re not having the same type of vacation that they used to."

Vail Resorts’ Christmas week visits were up in 2008 from 2007, but season-to-date skier visits were down 5.8 percent as of January.

To help weather the downturn, Vail Resorts has laid off 50 workers, will not fill 100 vacant positions and is offering specials and packages to attract skiers. Video: CEO Interviews