Ski industry giant Vail Resorts says a historically dry winter in the Rocky Mountains is taking a financial toll.
In its latest quarterly earnings report, the company said North America skier visits were down roughly 12% through the beginning of March compared to last year, and revenue fell about 5% for the quarter.
"This has been the most challenging winter across the Rockies that we have ever experienced, with the lowest snowfall levels in more than 30 years for our Colorado and Utah resorts, combined with warmer temperatures, resulting in reduced terrain throughout the quarter and into February,” CEO Rob Katz said in a statement
In addition to the lack of snow, February was especially warm in the region, with average temperatures about eight to nine degrees above normal, according to Climate Central. That limited how much terrain resorts could open.
“This season saw the latest opening of the Back Bowls at Vail Mountain and Imperial Lift at Breckenridge, and only 70 to 80% of acres open through the end of February at our resorts in Colorado and Utah,” Katz said in a call with investors.
Due to unfavorable skiing conditions, the company announced Monday it was lowering its earnings outlook for the year, backing off projections before the winter season began.
Vail Resorts owns more than 40 major ski destinations, including flagship Vail Mountain, Breckenridge and Keystone in Colorado; Park City in Utah; and Heavenly near Lake Tahoe.
Katz said a few factors have helped cushion the blow of a difficult winter. About three-quarters of skier visits come from season pass holders, whose passes are prepaid and nonrefundable. And the company has diversified its resorts across multiple regions. Katz also said he doesn’t expect the poor winter to greatly dampen skiers’ enthusiasm in the long run.
“I don't think this is going to impact long-term engagement in the sport,” he said during the earnings call.
Still, he acknowledged there may be some headwinds in convincing people who skipped the slopes this winter to come back next year.
To try to sweeten the deal for the 2026-2027 season, Vail is offering skiers and snowboarders between the ages of 13 and 30 an Epic Pass for $869 – about 20% off the standard price, which starts at $1,089. Katz said guests ages18 to 30 are the most pricesensitive after recent pass price increases.
This story was produced by the Mountain West News Bureau, a collaboration between Boise State Public Radio, Wyoming Public Media, Nevada Public Radio, KUNR in Nevada, KUNC in Northern Colorado, KANW in New Mexico, Colorado Public Radio and KJZZ in Arizona as well as NPR, with support from affiliate newsrooms across the region. Funding for the Mountain West News Bureau is provided in part by the Corporation for Public Broadcasting and Eric and Wendy Schmidt.
