imagesSkier visits at our Colorado resorts for the quarter were up 11.8% over the prior year, offset in part by a decline in skier visits of 0.4% at Heavenly and Northstar, where unusually warm and dry temperatures this spring negatively impacted results.

For the 3 months ended April 30, 2013, excluding the Acquisitions, lift revenue excluding season pass revenue was up 13.4%, compared with the same period in the prior year. We also saw continued growth in ancillary revenue, driven by increased guest spend, with dining revenue up 13.9%, ski school revenue up 11.8% and retail/rental revenue up 7.4%, excluding the Acquisitions.

Retail/rental results were modestly tempered by results in our city store locations. Mountain Reported EBITDA, excluding the Acquisitions, increased $19.2 million or 11.2% for the quarter, compared to the same period in the prior year. Our lodging segment benefited from increased visitation, especially during peak holiday periods, with total occupancy increasing by 2.3 percentage points, along with rate increases as Average Daily Rate, ADR, increased 2.9% at our owned hotels and managed condominiums.

As a result of improved operating efficiency, we increased lodging EBITDA margins by 2.9 percentage points, contributing to a 22.1% increase in Lodging Reported EBITDA, as compared to the same period in the prior year.

Our Real Estate segment continues to see increased demand and we are encouraged by the level of interest and rate of sales we are seeing at both of our development projects.

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