Vail Resorts Admits Visits & Revenue Down
The US resort owner said it is due to a ‘worst-case weather scenario’.
The comments come from the CEO, Rob Katz, and follows one of the worst winters for snow in decades in parts of the USA.
In a news release for shareholders and investors the company admitted:
- Skier visits fell 11.9%
- Total lift revenue down 3.6%
- Ski school revenue down 8.2%
- Dining revenue down 8.6%
- Retail/rental revenue down 5.7%
In the second financial quarter the net revenue decreased 4.7% , that’s $53.2m.
“This has been the most challenging winter across the Rockies that we have ever experienced with the lowest snowfall levels in more than 30 years for our Colorado and Utah resorts, combined with warmer temperatures, resulting in reduced terrain throughout the quarter and into February,” said Katz in a statement.
Vail Resorts’ stock price fell more than 3% after the earnings announcement.
Skiing in the USA. Image © PlanetSKI.
Vail Resorts said it was pleased with the strength and stability shown by the operating model amid the tough season and called the fall off in lift revenue “modest.”
Vail Resorts aims to get skiers to commit to a pass or tickets in advance with its Epic Pass.
“I am confident that with our collective strength and focus, we will continue to elevate the guest experience and deliver sustainable long-term value for shareholders,” Katz added.
There has been some recent fresh snow across the western ski states but it is a matter of too little, too late
Epic Passes for the 2026-27 season are already on sale.
There is a 20% price reduction for skiers aged 13 to 30.
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