Vail Resorts Optimizes Resources and Streamlines Finances Across Its Spas and Ski Slopes

Vail Resorts Optimizes Resources and Streamlines Finances Across Its Spas and 
Ski Slopes 
MOUNTAIN VIEW, CA -- (Marketwire) -- 03/18/13 --  Adaptive Planning,
the worldwide leader in cloud-based business analytics solutions for
companies and nonprofits of all sizes, today announced that Vail
Resorts, the leading mountain resort operator in the United States
and a publicly held company traded on the New York Stock Exchange
(NYSE: MTN), implemented Adaptive Planning to consolidate and
benchmark financial data across properties in an automated fashion
instead of the Excel-based process, which required manual data entry. 
The Vail Resorts family of companies employs more than 13,000
peak-season employees across five segments, hospitality, retail,
transportation, real estate and development and corporate. The
finance team faced a challenging planning environment because each of
the divisions and locations was relying on separate accounting
systems. In addition each division used a separate chart of accounts.
Vail Resorts wanted the ability to consolidate and benchmark across
properties in an automated fashion instead of the Excel-based
process, which required manual data entry. 
"We wanted the ability to do all of our formula based planning, run
reports and compare spas across ten properties to determine
profitability," said Wayne McLellan, Jr., Senior Manager Lodging
Finance, RockResorts and Vail Resorts Hospitality. "In addition, the
ability to standardize our planning model across the organization and
make changes to variable expenses and have that automatically roll up
was an important requirement. After comparing multiple options,
Adaptive Planning was a no brainer because of its robust
functionality, affordable cost, and customizable options that met our
planning needs."  
After selecting Adaptive Planning, Vail Resorts implemented the
solution with 10 hours of professional support and rolled out to 58
users across two instances. Since implementing Adaptive Planning,
Vail Resorts has experienced an increase in engagement among
department heads in the planning process. Now each department head
creates their own budget in Adaptive Planning, freeing up the
Director of Finance to focus on the drivers that impact the business.
Vail Resorts business model is driven by rooms occupied (occupancy
percent), food and beverage capture rate (#of guests served a meal to
as a percent of occupied rooms), golf rounds, and spa treatments. The
business is also highly seasonal with the winter high season
attracting a more affluent customer demographic vs. the summer season
which is considered a value season. Now, in Adaptive Planning, they
can model out their staffing and labor costs based on the projected
occupancy using base-plus-variable labor cost formulas. 
"The forecasting process used to take 2-3 hours per individual for
more than 25 participants and now takes just 20-30 minutes," says
McLellan. "Apply these time savings and we have seen a reduction in
time spent of more than 56 hours. Strategic decision making has
improved as a result and we now review a 90 day forecast each month
and run reports to compare budgets/forecasts to actual and to prior
forecasts. With Adaptive Planning we have a much better ability to
manage the top line." 
"We are pleased that Vail Resorts has achieved a significant ROI by
implementing Adaptive Planning for forecasting and reporting critical
financial data," said John Herr, CEO, Adaptive Planning. "As a season
pass holder at Breckenridge for many years and a California resident,
I am a big supporter of Vail Resorts and the quality customer
experience they provide. We are excited to help Vail Resorts continue
to improve their financial management of this great company." 
About Vail Resorts 
Vail Resorts, Inc., through its subsidiaries, is the leading mountain
resort operator in the United States. The Company's subsidiaries
operate the mountain resorts of Vail, Beaver Creek, Breckenridge and
Keystone in Colorado; Heavenly, Northstar and Kirkwood in the Lake
Tahoe area of California and Nevada; Afton Alps in Minnesota and Mt.
Brighton in Michigan; and the Grand Teton Lodge Company in Jackson
Hole, Wyoming. The Company's subsidiary, RockResorts, a luxury resort
hotel company, manages casually elegant properties. Vail Resorts
Development Company is the real estate planning, development and
construction subsidiary of Vail Resorts, Inc. Vail Resorts is a
publicly held company traded on the New York Stock Exchange (NYSE:
MTN). The Vail Resorts company website is www.vailresorts.com and
consumer website is www.snow.com. 
About Adaptive Planning 
Adaptive Planning is the worldwide leader in cloud-based business
analytics solutions for companies and nonprofits of all sizes. The
company's software as a service (SaaS) platform allows finance and
management teams to work together to plan, monitor, report on, and
analyze financial and operational performance. With capabilities for
budgeting, forecasting, reporting, consolidation, dashboards, and
business intelligence, Adaptive Planning enables finance, sales, and
other business leaders to make better, faster, more collaborative
decisions that drive a true competitive advantage. 
Adaptive Planning is used by over 1,500 organizations worldwide, from
midsized companies and nonprofits to large corporations, including
AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and
Vail Resorts. The company is the 5th fastest growing software company
in Silicon Valley on the Deloitte Technology Fast 500(TM) list; has
the #1 brand in midmarket CPM; and ranks #1 in customer satisfaction
in independent industry surveys. With customers and partners in 80
countries worldwide, the company has the strongest channel ecosystem
in the cloud CPM space, with over 400 worldwide partners including
Armanino McKenna, Intacct, IntuitiveTek, Plex Systems, SAP, and
NetSuite, which offers a specialized version of Adaptive Planning as
the NetSuite Financial Planning module. Adaptive Planning is
headquartered in Mountain View, Calif. and is funded by Norwest
Venture Partners (NVP), Royal Bank of Canada (RBC), ONSET Ventures,
Monitor Ventures, and Cardinal Venture Capital. 
Contact: 
GlobalFluency
Stephanie Evans 
650-433-4163 
sevans@globalfluency.com 
Adaptive Planning
Derek Kober
650-810-2486
dkober@adaptiveplanning.com 
Adaptive Planning
650-528-7500
www.adaptiveplanning.com 
 
 
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