Vail Resorts Reports Skier Numbers Down But Lift Pass Income Up For 23-24

Vail Resorts, the world’s largest ski resort operating company, have reported that the challenging snow conditions across much of North America in the first half of the season led to a 7.8% drop in skier visits to its slopes compared to last winter 22-23.

However, its highly successful policy of selling as many of its Epic Pass season tickets as it can before the season begins so the money is in the bank whatever the weather brings, led season-to-date total lift ticket revenue (“including an allocated portion of season pass revenue for each applicable period”) to rise by 3.2% compared to the prior year season-to-date period.

Ski school revenue was up 7.0% and dining revenue was up 2.4% compared to the prior year, however retail/rental revenue for North American resort and ski area store locations was down 7.1% compared to the prior year season-to-date period.

"Given the unfavorable conditions across our North American resorts for a large portion of the season, we are pleased with our overall results as the 2023/2024 North American ski season nears completion, highlighting the stability provided by our season pass program and the investments we have made in our resorts and employees,” said Kirsten Lynch, Chief Executive Officer at Vail Resorts, who added, “While visitation declined, our lift revenue increased driven by the growth in pass sales committed ahead of the season, and our ancillary businesses performed well, with particularly strong growth in spending per visit in our ski and ride school, dining, and rental businesses compared to the same period in the prior year. The results throughout the 2023/2024 North American ski season demonstrate the resiliency of our strategic business model and our network of resorts and loyal guests.”

Lynch said that better results in March and April, thanks to improved conditions across Vail’s western North American resorts in the latter half of the season, actually exceeding record levels that were hit in 2023.

Lynch concluded that full financial year results are likely to be at the lower end of prior expectations, saying that strong season pass sales results, prior to the start of this season, greatly mitigated the impact of the unfavorable conditions that existed across the company’s 37 North American resorts for a large portion of the season.

Lynch noted that spring pass sales for winter 24-25, which are already underway, have so far, “seen a modest decline in pass product units and growth in sales dollars.”

Besides its North American resorts Vail Resorts operate Andermatt-Sedrun in Switzerland (where they are also currently buying Crans Montana) and Perisher, Hotham, and Falls Creek in Australia.

Many other leading ski areas around the world that they do not own or operate are included as partners in their Epic Pass global season pass product.