Vail Resorts boss Rob Katz this week gave investors the doom-and-gloom report with a dash of optimism.
Company profits were down more than $90 million during spring break, February through April. Katz again blamed the historically warm and dry winter in Colorado and Utah, where the company’s largest and most profitable resorts prop up the rest, like they (mostly) did in 2024-2025 when Whistler-Blackcomb was suffering.
Epic Pass sales are down 10% this year compared to last year. Epic Pass revenue – the money Vail makes off pre-season sales – is down 5% despite a slate of new incentives, like slashing $400 off the Epic Pass for young never-evers,. Except for a global pandemic, that has rarely happened in the nearly two decades since the Epic Pass was introduced.
Vail does not say how much money it makes on pass sales in public investor reports.
‘Blizzard’ down under
But there is one snowy lining to this dreary forecast, and it’s coming from Down Under in Australia, where Epic Pass sales are up a whopping 26% over last year.
Vail’s largest Aussie property, Perisher, opened for the season June 6 with close to 8 inches of natural snow and a whole lot of snowmaking. The resort was sharing photos of whiteouts on social media with the headline, “Blizzard mode activated.”
Looking ahead
Back in the U.S., Katz was doubling down on his promise to keep investing in the company, implying that one season of bad snow and revenue can’t keep Vail down.
“Our continued investments in talent, technology and resort operations drove record guest satisfaction scores and strong employee engagement,” Katz said, leaving out the part about falling skier numbers. “Despite the weather challenges of the past year, our strategic focus remains unchanged, and we are pleased with the progress we made this year.”
Katz also promised new chairlifts, snowmaking and updates to company-owned rentals, ski school and dining. He failed to give specifics, promising those in coming months.
Preview image via @perisher_resort on IG.