PARK CITY, Utah — Vail Resorts reported its Q3 earnings on Thursday.
- Pass product sales through May 31, 2022, for the upcoming season increased 9% in units and roughly 11% in sales dollars compared to the period in the prior year through June 1, 2021.
- 72% of all Vail Resorts visitation in North America during the 21/22 season was on a pass product. That figure was 60% during the 18/19 season.
- Vail Resorts CEO Kirsten Lynch reiterated that lift ticket sales at their Colorado resorts and at Park City Mountain last season “exceeded our expectations.”
Reminder: Pass sales were up 47% for the 21/22 ski season, after the company cut the price of an Epic Pass by 20%. The company also pushed the first Epic Pass price increase up three months this year to Memorial Day.
More quotes from Lynch:
- “For the season-to-date period ended April 30, 2022, compared to the season-to-date period ended May 5, 2019, visitation on weekday and non-holiday periods increased approximately 8% while visitation on weekend and holiday periods decreased approximately 3%”
- “Despite the growth in overall visits this past season, very few of our resorts even approached their historical maximum daily visitation, as our resorts averaged only 1 day this season exceeding 95% of their historical peak daily visitation and only 6 resorts had more than 1 day above that level, excluding the recently acquired Seven Springs Resorts. All of this highlights that there is considerable opportunity to continue to grow the overall industry and skier visits outside of peak periods, and that it is critical that we continue to invest in people and infrastructure to continue to improve the employee and guest experience throughout the season.”
“What Vail leaves out is so many resorts had closed lifts, closed terrain, ungroomed runs, closed restaurants and closed shops last season,” Lift Blog wrote. “All of those things impacted crowding. Open everything at peak times next season and all will be well.”
Colorado ski resorts project visitation hit an all time high in 21-22, likely topping 14 million, up from about 12 million in 20-21. “Our business has recovered from the worst impacts of the pandemic” says CO Ski Country boss Melanie Mills
— Jason ☀️ Blevins (@jasonblevins) June 9, 2022