Piles of fresh snow couldn't hide the fact that the sour economy is taking its toll on Colorado's largest ski resort operator.

Vail Resorts said Friday that total skier visits at the company's five mountain resorts from the day that lifts opened to Jan. 4 fell 5.8 percent for the season-to-date period based on preliminary results.

Lift ticket revenue booked a decline of 7.5 percent. Vail said the difference was due in part to increased visits from season pass holders.

Bookings through Vail's central reservations and directly at its properties as of Dec. 31 dropped about 15 percent in room nights compared with the previous year.

"As we expected, the current economic environment has certainly impacted the beginning of the 200 8/2009 ski season with season-to-date skier visits down year over year," said Chief Executive Rob Katz in a statement.

Katz noted, however, that the results have improved from the 23.3 percent drop in bookings reported by the company as of Nov. 30. He said total skier visits actually gained year-over-year during the peak two-week holiday period ended Jan. 4.

Early-season results for the rest of the state's ski industry have yet to be released by Colorado Ski Country USA, the trade group representing the 22 areas not owned by Vail Resorts.

"Clearly no one's expecting a record year," said Jennifer Rudolph, Colorado Ski Country spokeswoman.

Still, many Colorado ski areas have been reporting that activity over the holidays exceeded their expectations.

Vail's stock fell $1.63, or 5.7 percent, to $26.97 in midday trading Friday. The shares have traded between $14.79 and $53.27 during the past 52 weeks.

Katz said the improved results confirm that many guests are booking their vacations closer to the date of travel, rather than forgoing a trip altogether.

Dining, retail and rental revenue fell in line with lift ticket declines, while ski school revenue booked a 20 percent drop, the CEO said.

"We believe the greater decline in ski school revenue was due to lower guest spending on certain higher priced items during their trip, a trend that was matched in lower check averages at certain of our fine-dine restaurants," Katz said.

Vail last month announced it was laying off 50 workers and suspending raises and some benefits for other employees. The company also said it will eliminate almost 100 vacant positions.