Vail Resorts Inc
vailresorts.comWhat Do They Do?
Operates ski resorts and sells lift access, ski lessons and rentals to destination travelers and local guests.
10-K for FY2026, filed Sep 28, 2026Vail Resorts, Inc., a Delaware corporation, was organized as a holding company in 1997 and operates through various subsidiaries. Our…View ↗
Our Mountain segment operates 42 world-class destination mountain resorts and regional ski areas (collectively, our “Resorts”).…View ↗
Our Mountain segment derives revenue through the sale of lift tickets, including pass products, as well as a comprehensive offering of…View ↗
Lift revenue is driven by volume and pricing. Pricing is impacted by absolute pricing, as well as both the demographic and geographic mix…View ↗
How Do They Make Money?
Guests buy lift access, passes, ski lessons, rentals, dining and lodging; passes are sold before the ski season, and access is provided through the season. The company also sells development land, usually when a sale closes.
10-K for FY2026, filed Sep 28, 2026We offer a variety of pass products for all of our Resorts, marketed toward both Destination and Local guests. Our pass product offerings…View ↗
Revenue RecognitionView ↗
Lodging revenue is derived from a wide variety of sources, including, among other things: revenue from owned hotel rooms and managed hotel…View ↗
$2.8B
-
10-K for FY2026, filed Sep 28, 2026
$2.8B ↗
Who Are Their Customers?
Skiers and summer visitors buy passes, lift tickets, lessons, rentals and resort amenities directly through websites, the call center, apps and ticket windows. Lodging also serves vacationers, groups and conference guests through direct marketing and reservations.
10-K for FY2026, filed Sep 28, 2026Our Mountain segment’s marketing and sales efforts are focused on leveraging marketing analytics to drive targeted and personalized…View ↗
For our Lodging segment, we promote our hotels and lodging properties through marketing and sales programs, which include marketing…View ↗
Across both the Mountain and Lodging segments, sales made through our websites and call center allow us to transact directly with our…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 5 cents of every revenue dollar as net income in FY2026 and turned 9 cents into free cash flow.
10-K for FY2026, filed Sep 28, 2026
$420.5MView ↗
10-K for FY2026, filed Sep 28, 2026
$147.5MView ↗
10-K for FY2026, filed Sep 28, 2026
$248MView ↗
How Are They Changing?
Growing. Revenue grew 12% in 4 years, from $2.5B in FY2022 to $2.8B in FY2026, about 3% a year.
Expanded Swiss resort offering
Adds Crans-Montana to its Swiss resort offering alongside Andermatt-Sedrun, extending its European mountain resort portfolio.
10-K for FY2023, filed Sep 28, 2023 10-K for FY2026, filed Sep 28, 2026Andermatt-Sedrun (“Andermatt-Sedrun”) - marking our first owned and operated resort in Europe, the Company acquired a 55% controlling…View ↗
Andermatt-Sedrun (“Andermatt-Sedrun”) - located approximately 70 miles (110 kilometers) from Zurich, Switzerland in the Ursern Valley of…View ↗
Who Do They Compete With?
Competes with Aspen Snowmass, Deer Valley, Jackson Hole, Copper Mountain, Steamboat, Winter Park, Snowbird, Palisades Tahoe, Killington, Mammoth, St. Moritz, and Zermatt
10-K for FY2026, filed Sep 28, 2026Our resorts compete with other major destination mountain resorts, including, among others, Aspen Snowmass, Deer Valley, Jackson Hole…View ↗
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