- Vail Resorts (MTN, Financial) reported a 3.1% decline in skier visits but a 3.4% increase in lift ticket revenue for the 2024/2025 season.
- Retail/rental revenue decreased by 4.0%, while ski school and dining revenues saw moderate growth.
- The company expects its Resort Reported EBITDA for fiscal 2025 to fall in the lower half of the guidance range due to lower-than-expected spring visitation.
Vail Resorts, Inc. (MTN) has released its North American ski season metrics for the period ending April 20, 2025. The company reported a mixed performance with a decrease of 3.1% in total skier visits compared to the previous year. However, lift ticket revenue, inclusive of season pass revenue, increased by 3.4%.
Ski school revenue grew by 2.7%, and dining revenue rose by 2.2%, showing resilience in these areas. On the downside, retail and rental revenue experienced a 4.0% decline, reflecting the challenges faced by the company. CEO Kirsten Lynch emphasized the benefits of the season pass program, which provided stability amid fluctuating visitation numbers.
Looking forward, Vail Resorts has adjusted its financial expectations for fiscal 2025, now anticipating that Resort Reported EBITDA will be in the lower half of its previously issued guidance range. This adjustment is attributed to lower-than-expected spring lift ticket visitation.
For the upcoming 2025/2026 ski season, early sales data through April 13, 2025, indicate that while pass product units saw a slight decrease, sales dollars increased, showcasing significant improvement in pass renewals among loyal and tenured pass holders. This trend highlights the company's strong core customer base and the stability provided by its strategic business model.
