Vail Resorts reports 12% decline in preseason Epic Pass sales amid record-low snowfall
What happened
Vail Resorts reported a 12% decline in preseason Epic Pass sales, alongside a wider net loss and near-flat revenue for fiscal 2026.
The Context
- Record-low snowfall: The 2025-26 ski season saw a 15% decline in skier visits across North America, with Vail's resorts experiencing a 25% drop.
- Sales strategy shift: Vail's Epic Pass model, which transfers risk to buyers, is under pressure as the company anticipates relying more on lift ticket sales to offset lower pass commitments.
- Investor scrutiny: Activist investor Oasis Management is pushing for changes, including board nominations, as Vail navigates these challenges.
The Number
— This figure reflects the decline in Epic Pass product unit sales through September 18, 2026, highlighting a potential shift in skier commitment and spending.
Takeaway
Vail Resorts is bracing for a challenging 2026-27 season, with expectations of fewer total visits despite improved snowfall.
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