SAM Magazine—Broomfield, Colo., April 24, 2024—Skier visits are down but revenues are up for Vail Resorts’ North American ski areas during the 2023-24 winter season, according to a report from the company comparing certain ski season metrics year-over-year through mid-April.

Season-to-date skier visits were down 7.8 percent in 2023-24 compared to 2022-23, while total lift ticket revenue—which includes an allocated portion of season pass revenue—was up 3.2 percent. The skier visit decline represents a modest recovery from the 9.7 percent season-to-date decrease as of March 3 reported in the company’s Q2 earnings.

"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 Vail Resorts CEO Kirsten Lynch. “While visitation declined, our lift revenue increased driven by the growth in pass sales committed ahead of the season.”

Late-season snowfall helped offset a slow start to the season, with revenues improving in March and April and visitation at Vail Resorts properties in western North American “exceeding prior year record levels supported by the improved conditions,” said Lynch. 

Even with the late snow, however, performance was uneven from resort to resort. 

“Pass product visitation returned as expected to normal historical guest behavior for the spring. However, lift ticket visitation did not return to normal historical guest behavior, primarily at Whistler Blackcomb, which was down significantly relative to the prior year period,” Lynch said, noting that conditions did not improve until early March at Whistler Blackcomb and VR’s Tahoe resorts. “When conditions improved, visitation at our Tahoe resorts responded as expected, however visitation at Whistler Blackcomb remained below expectations,” she said.

Some ancillary revenue sources were up compared to the same period last year, including ski school (up 7 percent) and dining (up 2.4 percent). While retail and rental revenues fell 7.1 percent, Lynch said the company saw “strong growth” in spending per visit for all three ancillary businesses. 

Several Vail Resorts properties remain open for skiing and riding, and the company’s 2024-25 Epic Pass suite of products went on sale March 5. It remains to be seen how many early buyers who ended up using their passes for fewer ski days due to poor ski conditions this season will be willing to renew their Epic passes again. The results so far are lower than expected.

“To date, through the April deadline, we have seen a modest decline in pass product units and growth in sales dollars,” said Lynch. However, she noted, “The April sales deadline only impacts a portion of our renewing pass holders that are eligible for buddy ticket benefits, and we will have more to share in our third quarter earnings release in June 2024.”

—Reported by Bob Curley

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