Pass sales, late season push helped save Vail Resorts ski season

BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) saw fewer visitors in the most recent ski season compared to the previous season, but overall sales were up thanks to robust season-pass sales and busy late season.

Through April 14, 2024, total skier visits were down 7.8% compared to the last ski season through April 16, 2023, thanks in large part, Vail said, to unfavorable weather conditions across its North American resort portofolio.

Still, year-over-year lift ticket sales were up 3.2%, ski school up 7% and dining up 2.4%.

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 “Given the unfavorable conditions across our North American resorts for a large portion of the season, we are pleased with our overall results as the 2023/2024 North American ski season nears completion, highlighting the stability provided by our season pass program and the investments we have made in our resorts and employees,” Vail CEO Kirsten Lynch said in a prepared statement. “While visitation declined, our lift revenue increased driven by the growth in pass sales committed ahead of the season, and our ancillary businesses performed well, with particularly strong growth in spending per visit in our ski and ride school, dining, and rental businesses compared to the same period in the prior year. The results throughout the 2023/2024 North American ski season demonstrate the resiliency of our strategic business model and our network of resorts and loyal guests.”

Looking ahead to the 2024/2025 ski season, “we have seen a modest decline in pass product units and growth in sales dollars,” she said. “The April sales deadline impacts only a portion of our renewing pass holders who are eligible for buddy ticket benefits, and we will have more to share in our third quarter earnings release in June 2024.”