As expected, the coronavirus pandemic has “had a significant negative impact” to Vail Resorts.

That’s how company CEO Rob Katz described it in a recent report to investors that detailed drops in business at North American destinations, which include Vail’s flagship resort in Colorado along with Breckenridge, Keystone, Beaver Creek and Crested Butte.

From the start of the ski season through Jan. 3, visits were down 16.6% compared with the same period from last season, according to the report. Ticket revenue fell 20.9% year to year, and ski school revenue was down 52.6%. Retail and rental revenues dropped 52.5%, while dining plunged 66.2%.

Declines “were primarily driven by reduced demand for destination visitation at our western resorts,” Katz said. He also cited “snowfall levels that were well below average at our Colorado, Utah and Tahoe resorts.”

Relative dryness across the mountains has compounded with Vail reducing capacity in a stated effort to comply with local COVID-19 restrictions. On Sunday, Breckenridge announced 100 inches of snow for the season — a mark the resort reportedly reached Dec. 14 the previous season.

Katz voiced optimism over local visitation at western resorts being “in line with our prior year results.” He called season pass sales “strong.”

Katz recognized the uncertainty of the pandemic going forward. But “if capacity restrictions remain stable and we experience normal conditions in Colorado, Utah and Tahoe,” he said, “we would expect to see improved performance for the remainder of the season.”