Vail Resorts Skier Visits, Revenue Up

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SAM Magazine—Broomfield, Colo., April 21, 2023—While Vail Resorts reported mixed second quarter results in March, with visits up but earnings down from the prior year for the November to January period, results in March and April have improved as expected, according to the company’s latest ski season metrics. VailResortsLogoBlack

Vail Resorts reported skier visits were up 6.1 percent year-over-year for the period from the beginning of the ski season through mid-April, with strong demand from local and destination guests driving visitation above prior year record levels.

Total lift ticket revenue, including an allocated portion of season pass revenue, was up 4 percent compared to last season. Ancillary revenues also increased over the prior season when staffing and operational restrictions constrained capacity, with ski school revenue up 26.4 percent, dining revenue up 35.3 percent, and retail and rental revenue up 21.8 percent.

“The results throughout the season highlight the stability created from our advance commitment strategy, as the company faced significant weather-related challenges this winter season from the travel disruptions over the peak holiday period, abnormal weather variability across our resorts in the East, and significant storm related disruptions at our Tahoe resorts,” said Vail Resorts CEO Kirsten Lynch.

While some of Vail Resorts’ Midwest and Mid-Atlantic ski areas closed earlier than originally intended this year due to unseasonably warm weather, the company’s resorts in the Northeast experienced improved conditions and visitation to finish the season. In addition, favorable conditions enabled Vail Resorts to extend the ski season at several of its ski areas across Utah, Tahoe, and the Northeast.

That strong finish produced results that were in line with the adjusted resort reported EBITDA guidance the company issued on March 9, 2023, said Lynch. Vail Resorts lowered its guidance for fiscal year 2023 after experiencing profitability impacts from increased operating costs from abnormal weather conditions in the second quarter.

The company is now looking toward the 2023-2024 season with spring pass sales underway, said Lynch, who noted that “to date, we’ve seen solid growth in pass product sales in both local markets and destination markets, particularly in the Northeast.”