Vail Resorts recently released the 98-page presentation from their March 28-29 investor meeting. It’s full of interesting information about how the resort conglomerate has developed in recent years and where it’s headed.

Here are six key takeaways from the report:

1. Vail Resorts’ most popular resorts are in Colorado

The company grouped Vail Resort and Beaver Creek together, noting that this pair was the most popular in terms of both skier visits and brand awareness. Breckenridge ranked third in terms of skier visits, behind Whistler Blackcomb (British Columbia), but second in terms of brand awareness. Park City (Utah) ranked fourth in terms of visits, with Keystone ranking fifth. In other words, the majority of the most popular resorts operated by the company are in Colorado.

2. The Vail Resorts’ promotion network is massive

A total of 24 million unique adults guests have opted-in to receiving marketing materials from Vail Resorts. Not only is this a big benefit when it comes to marketing new products and getting a leg up on the competition, it can also contribute to the stickiness of product purchasers and data collection that can be used to improve the resort experience. This database includes 5 million guest from East region areas, with this region viewed as a key opportunity for growth. Their connection with users has also allowed them to make improvements based on feedback – a driving force behind upcoming changes in gear rental operations (more on that below).

3. An ‘Advance Commitment’ model is the future

‘Advance Commitment’ – purchasing some sort of season pass – means pushing customers to make a decision on slopesport destinations prior to the start of the season. Vail Resorts aims to reach over 75 percent of lift revenue being from advance commitment opposed to lift ticket sales. In the fiscal year of 2023, this number was at 61 percent. Company benefits of pushing for ‘advance commitment’ include financial stability, higher guest retention, and higher guest satisfaction with more days skied, among other things. Pass revenue has grown from $78 million in the fiscal year of 2008 to $853 million in the fiscal year of 2023.

4. Epic Pass prices are outpacing inflation

The price of the Epic Pass products has increased 5 percent per year, which is outpacing inflation since the fiscal year of 2011. Pass prices have increased by 8 percent on average each year over the last two years, catching up with a decrease in price in the fiscal year of 2022 that was used to drive significant growth in new pass holders ($979 in 2021, $783 in 2022, $841 in 2023, and $909 in 2024). Between the fiscal year of 2020 and the fiscal year of 2023, there was an 86 percent increase in pass holders and a 122 percent increase in those new to Vail Resorts purchasing a pass. This move to advance commitment passes can also impact crowding, with pass holders visiting resorts three times more on average than non-pass holders.

5. The Transition from Gear Ownership to ‘Access Economy’

Vail Resorts aims to better address needs of those renting gear, with more than 200 retail, rental, and tuning locations. Expect moves to make renting gear cheaper and more convenient, including delivery and slopeside pick-up and drop-off. The ‘My Epic’ app plays an integral role in boosting the convienence, along with a newly launched gear rental membership program. A new ‘gear membership’ program is set to cost $50 for the season plus $50 per day. Vail Resorts estimated that with an average of four days of use, this program will cost $250 opposed to $330 of traditional demo rentals or $365 of annualized ownership costs. This program is being piloted next season at Vail, Beaver Creek, Breckenridge, and Keystone.

6. More automation and better technology

A push toward technology like the mobile pass system is designed to make the guest experience more convenient, while also freeing up staff resources for higher value work. Expect to see more automation on the guest side of the skiing experience, but also on the operations side, including improvements like automated snowmaking.

Find the full Investors Report, which also addresses resort-specific changes, here.

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