Vail Resorts reports season pass sales down ~3% through September 19

Pass product sales through September 19, 2025 for the upcoming North American ski season decreased approximately 3% in units and increased approximately 1% in sales dollars as compared to the prior year period through September 20, 2024. Pass sales dollars are benefiting from the 7% price increase relative to the 2024/2025 season, partially offset by the mix impact from the relative performance of Epic Day Pass products compared to Core Epic Pass products. Pass product sales are adjusted to eliminate the impact of foreign currency by applying an exchange rate of $0.72 between the Canadian dollar and U.S. dollar in both periods for Whistler Blackcomb pass sales. Commenting on the company’s season pass sales for the upcoming North American ski season, Katz said, “Season to date through September 19, 2025, pass trends were generally consistent with the spring selling period, with the decline in units driven by less tenured renewing guests, those that had a pass for just one year, and fewer new passholders. Renewals are up for more loyal passholders, those guests that have had a pass for more than one year. As we enter the final period for season pass sales, we expect our December 2025 season to date growth rates compared to the prior year to be relatively consistent with our September 2025 season to date growth rates. As noted above, we continue to see long-term opportunity to further expand the reach of our pass program.”