Vail Resorts Lowers Full-Year EBITDA Guidance Amidst 20% Drop in Skier Visits Due to Poor Snowfall

summarizeResumen

Vail Resorts' operational performance was severely impacted by adverse weather conditions, particularly in the western U.S. Rockies, leading to a substantial reduction in skier visits and ancillary revenues. The revised guidance, now below the previously issued low end, signals a material negative impact on expected profitability. Investors should monitor future snowfall and visitation trends, especially around key holiday periods, as the company's outlook remains sensitive to weather improvements.

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• Skier Visits Decline

  Season-to-date total skier visits were down 20.0% compared to the prior year period ended January 5, 2025.

• Revenue Impacts

  Ski school revenue decreased by 14.9%, dining revenue by 15.9%, and retail/rental revenue by 6.0%. Total lift revenue was down 1.8%, partially offset by season pass allocations.

• Guidance Revision

  Full-year Resort Reported EBITDA is now expected to be "just below the low end" of the guidance range issued on September 29, 2025, with potential for further downside.

• Weather Blamed

  CEO Rob Katz attributed the poor performance to "one of the worst early season snowfalls in the western U.S. in over 30 years," with Rockies snowfall nearly 60% below the historical 30-year average.

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Vail Resorts' operational performance was severely impacted by adverse weather conditions, particularly in the western U.S. Rockies, leading to a substantial reduction in skier visits and ancillary revenues. The revised guidance, now below the previously issued low end, signals a material negative impact on expected profitability. Investors should monitor future snowfall and visitation trends, especially around key holiday periods, as the company's outlook remains sensitive to weather improvements.