Season pass sales mean everything in the ski business. Winters present a range of factors that are volatile and impossible to predict, let alone control — like how much snow is going to fall. Running a stable and successful business, then, has meant convincing customers to pay in advance and lock in their loyalty with a season pass. This idea, forged by Vail Resorts, transformed the way the ski industry has operated over the past two decades. 

Vail Resorts is a global corporation that owns and operates 42 ski resorts around the world. Vail owns three of Lake Tahoe’s most popular ski resorts: Northstar, Heavenly and Kirkwood. 

This week, though, Vail Resorts executives shared some news with investors on an earnings call that wasn’t exactly encouraging after last year’s dismal winter: Season pass sales for the upcoming ski season are plummeting. 

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FILE: Skiers and snowboarders at Heavenly Mountain hike a short distance from the gondola to the Tamarack Lodge in South Lake Tahoe, Calif. 

As of Sept. 18, Vail has sold 12% fewer Epic Passes compared with last year. Sales dollars are down 6%. 

Vail’s profit also took a massive hit: It nearly halved year over year. Vail reported $147.5 million in net income for the fiscal year ending July 31, 2026, compared with $280 million the previous year. 

The decline in sales........

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