Vail Resorts grows revenue despite second year of skier visit declines, Park City strike impact felt

Photo: Park City Mountain // Jack Loosmann

“The guest experience during the thirteen-day patrol union strike was not the experience we wanted to provide.” - Vail Resorts CEO Kirsten Lynch

PARK CITY, Utah — Vail Resorts, Inc. (NYSE: MTN) has released its second-quarter fiscal 2025 results, reporting an 8% increase in Resort Reported EBITDA and an updated financial outlook for the year.

For the second consecutive year, Vail Resorts reported a decline in skier visits in its March report. Total skier visits fell 2.5% year over year through March 2, 2025, following a 9.7% drop in season-to-date visits reported in March 2024. This season’s decline has been attributed to a shift in visitor booking patterns, with more guests opting for later-season trips, whereas last year’s drop was primarily attributed on challenging snow conditions across the company’s resort portfolio.

Park City Mountain and Season Metrics

In the report CEO Kirsten Lynch acknowledged that guest satisfaction at most of Vail’s destination resorts improved over the past three years, with one major exception—Park City Mountain. Lynch cited the 13-day patrol union strike as a key factor in reduced guest experience ratings, stating, “The guest experience during the thirteen-day patrol union strike was not the experience we wanted to provide.” The strike, which started in late December and ran into January, disrupted operations at Utah’s largest ski resort.

More broadly, Vail Resorts reported a 2.5% decline in total skier visits season-to-date through March 2, 2025, compared to the previous season. However, total lift ticket revenue grew 4.1%, driven by higher prices and pre-committed pass sales. The company attributed the visitation dip to a shift in destination guest behavior, with more visitors planning spring trips rather than early-season travel.

Outlook for the Remainder of the Season

Despite the early-season visitation dip, Vail Resorts expects improved performance through the spring. The company reaffirmed its Resort Reported EBITDA guidance for fiscal 2025, now projecting between $841 million and $877 million, with an expected net income of $257 million to $309 million.

Key Takeaways for Park City

• Park City guest experience suffered due to the 13-day ski patrol strike
• Total skier visits down 2.5% season-to-date, but lift ticket revenue increased 4.1%
• Spring visitation expected to offset early-season declines
• Vail remains on track for its 2025 financial targets

With the ski season shifting later and spring break approaching, Park City Mountain and other western resorts may see a rebound in destination visits. However, guest experience concerns related to the patrol strike will remain a focus as Vail works to regain trust among Park City skiers.