SAM Magazine—Broomfield, Colo., April 29, 2025—Vail Resorts reported a 3.1 percent decline in skier visits across its 37 North American mountain resorts this winter, even as lift ticket revenue rose 3.4 percent for the season-to-date period ending April 20, buoyed by strong pre-committed season pass sales.

While destination visitation from pass holders improved as expected in March and April, visits from lift ticket guests fell short of expectations, said Vail Resorts CEO Kirsten Lynch.

Ski school and dining revenues grew modestly, up 2.7 percent and 2.2 percent, respectively, while retail and rental revenue declined 4.0 percent compared to the same period last year.

Lynch attributed the overall performance to improved spring conditions, steady demand from season pass holders, and the company's ongoing investments in guest experience. 

“The results throughout the 2024-25 North American ski season demonstrate the resiliency of our strategic business model and our network of resorts and loyal guests,” she said.

The company now expects resort reported EBITDA for fiscal 2025 to land in the lower half of its previously issued guidance range, pressured by lower-than-expected spring lift ticket visitation. Lynch said that resource efficiency initiatives and cost controls are expected to partially mitigate the financial impact.

Looking ahead, spring sales for the 2025-26 Epic Pass have shown mixed results. Although the number of pass units sold ahead of the April 13 deadline dipped slightly, total sales dollars increased, fueled by higher renewal rates among longtime pass holders. Lynch pointed to uncertainty in the broader economy as a potential factor in early buyer behavior.

“The first pass deadline occurred on April 13, 2025, amid significant macroeconomic volatility, and it is currently unknown what, if any, impact that had on early pass decision making,” Lynch said, adding that the April sales deadline only impacts a portion of the company’s pass holders eligible for buddy ticket benefits.

Vail Resorts will provide additional updates during its third-quarter earnings release in June.