Vail Resorts Sees 14.9% Ski Visit Drop, Low-End EBITDA Forecast
Vail Resorts’ North American ski visits fell 14.9% through April 19, 2026, driving a 5.6% decline in lift revenue and double-digit drops in ski school (12.0%), dining (11.7%) and retail/rental (6.6%) sales. CEO Rob Katz now expects fiscal 2026 Resort Reported EBITDA at the low end of the prior guidance.
1. Season-to-Date Metrics
Through April 19, 2026, North American skier visits fell 14.9% year-over-year, while lift revenue declined 5.6%. Ski school, dining and retail/rental revenues posted drops of 12.0%, 11.7% and 6.6%, respectively.
2. Weather Impact and Guidance
Record low snowfall and warmer-than-normal temperatures led to weaker late-season visitation and earlier resort closures, with Rockies visitation falling 25%. As a result, Resort Reported EBITDA for fiscal 2026 is now expected at the low end of the guidance range issued on March 9.
3. Early Spring Pass Sales Trends
Spring pass sales for the 2026/2027 season showed a moderate decline in unit sales and a slight decrease in sales dollars through April 12, with a more comprehensive update due in the June quarterly report.