Vail Resorts: Rising prices offset slight dip is pass sales
BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) sold fewer passes to its ski areas in the first quarter of fiscal 2025 than during the same period last year, but brought in 4% more in revenues from pass sales thanks to a price hike in advance of the current ski season.
“This year’s results benefited from an 8% price increase, partially offset by unit growth among lower priced Epic Day Pass products,” Vail CEO Kirsten Lynch said in a statement that accompanied the company’s first-quarter earnings report.
Vail grew its total revenue by 0.7% year over year to $260.3 million in the first quarter of 2025.
Net loss attributable to Vail was $172.8 million in the most-recent period, down from a net loss attributable of $175.5 million in the same quarter last year.
This fall, Vail unveiled plans to lay off 14% of its corporate workforce and about 1% of its operations staff as part of a two-year “transformation plan” aimed at reversing downward revenue and earnings trends.
In addition to layoffs, Vail, which has grown from 10 resorts to 42 and doubled its workforce over the last decade, said its transformation plan includes “leveraging … best practices and introducing new tools to scale the way operations are supported across the company,” consolidating and outsourcing internal business services and call centers, and using technology to improve workforce efficiency.
“The two-year Resource Efficiency Transformation Plan is designed to improve organizational effectiveness and scale for operating leverage as the company grows globally,” Lynch said in a statement. “Through scaled operations, global shared services, and expanded workforce management, the company expects $100 million in annualized cost efficiencies by the end of its 2026 fiscal year.”
Vail Resorts sold fewer passes to its ski areas in the first quarter of fiscal 2025 but brought in 4% more in revenues from pass sales.
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