Vail Resorts reports revenue growth despite ski patrol strike and low snowfall

Photo: Park City Mountain

BROOMFIELD, Colo. – Vail Resorts, Inc. (NYSE: MTN) announced key ski season metrics from the start of the 2024-2025 season through Jan. 5, 2025 compared the the prior year, indicating a strong financial start to the ski seasons across its North American ski operations.

Season-to-date skier visits were down 0.3% compared to the same period last year. However, total lift ticket revenue, including season pass allocations, increased by 4.5%. Ski school revenue rose 1.1%, dining revenue was up 6.6%, while retail and rental revenue dropped 5.4%.

CEO Kirsten Lynch attributed the results to stable season pass sales, improved early-season weather, and strong local visitation. “Early season conditions enabled a strong terrain offering and guest experience,” Lynch said. Destination guest visitation, however, remained below last year’s levels, reflecting a continued trend of later-season travel.

During the holiday period, destination guest visitation at Vail Resorts’ western North American mountain resorts fell below last year’s levels. The company attributed this decline to a broader shift in ski industry visitation patterns, with more guests opting to travel later in the season—a trend amplified by difficult early-season conditions in the prior year.

Lynch expressed optimism for the remainder of the season, citing lodging trends and pre-committed guest activity as key drivers for growth. Vail also finalized an agreement with the Park City Mountain patrol union, resolving a strike that had impacted operations.

Lynch said, “In addition to the strong start to the winter season, we are pleased to have reached an agreement with the Park City Mountain patrol union that is consistent with the wage structure across all of our mountain resorts. We deeply regret the disruptions caused to our guests during the patrol union strike and are committed to delivering an exceptional and safe experience for our guests, and rebuilding their trust and loyalty.”

The company reaffirmed its full-year Resort Reported EBITDA guidance, contingent on normal weather conditions and a stable economic environment. On Dec. 9, 2024 Vail shared that for fiscal 2025, the Company now expects $240 million to $316 million of net income attributable to Vail Resorts, Inc. and reaffirmed its Resort Reported EBITDA guidance of $838 million to $894 million.