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Broomfield Today
By the People, for the People
Vail Resorts Reports Challenging Q2 Amid Historic Rockies Snowfall Lows
Executives cite worst weather conditions in company history, but highlight pass program stability and new ticketing initiatives.
Published on Mar. 9, 2026
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Vail Resorts reported fiscal second-quarter 2026 results that were heavily pressured by what management described as the most difficult weather environment the company has ever seen in the Rockies. Executives emphasized that historically low snowfall and unusually warm temperatures limited terrain availability, reduced visitation, and weighed on profitability, even as the company pointed to the stabilizing effect of its pass program, early traction from new ticketing initiatives, and record-high guest satisfaction scores.
Why it matters
As one of the largest mountain resort operators, Vail Resorts' performance is a bellwether for the broader ski industry. The company's struggles with the historic weather conditions in the Rockies highlight the vulnerability of the industry to the impacts of climate change, raising questions about long-term sustainability and the need for resorts to diversify their offerings.
The details
For the fiscal second quarter, Vail Resorts reported a 5% decline in total net revenue and an 8% decline in Resort Reported EBITDA year-over-year. The company cited the impact of the low snowfall and warm temperatures, which limited terrain availability and reduced visitation, as the primary drivers of the weak results. However, management noted that the stability provided by the company's pass program, as well as early traction from new ticketing initiatives, partially offset the pressure.
- Snowfall and snowpack in the Rockies were at or near all-time historic lows through February 2026.
- Colorado experienced the warmest winter to date on record in February 2026, with temperatures nine degrees warmer than average.
- Through March 1, 2026, skier visitation declined approximately 12%, with pass visitation down 14% and non-pass lift ticket visitation down 6%.
The players
Rob Katz
Chief Executive Officer of Vail Resorts.
Angela
Chief Financial Officer of Vail Resorts.
Vail Resorts
A leading mountain resort company that owns and operates an integrated network of ski areas, hotels, restaurants and retail outlets.
What they’re saying
“Snowfall and snowpack in the Rockies were at or near all-time historic lows through February, calling it worse than fiscal 2012, previously the company's poorest Rockies season.”
— Rob Katz, Chief Executive Officer (MarketBeat)
“With low snowpack, conditions can change more quickly than in a typical year, making late-season results more sensitive to whether storms materialize or temperatures rise.”
— Rob Katz, Chief Executive Officer (MarketBeat)
What’s next
The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.
The takeaway
Vail Resorts' struggles with the historic weather conditions in the Rockies highlight the vulnerability of the ski industry to the impacts of climate change, underscoring the need for resorts to diversify their offerings and find ways to become more resilient in the face of increasingly unpredictable weather patterns.
