Vail Resorts operates a growing empire of dozens of top ski properties around the world. This season it is plowing into a blizzard of problems.
operates a growing empire of dozens of top ski properties around the world. This season it is plowing into a blizzard of problems.
“Many of you have had to carry an extra burden this season,” Chief Executive Kirsten Lynch said in a message to workers earlier this month. “Staffing was always going to be tight given the global labor shortage, but the acceleration of Omicron, late snow, and many other factors created particularly challenging impacts for our operations teams.”
The company sprawled across the nation in the years after it went public in 1997, with 35 acquisitions over the past decade costing $2.4 billion. It kept its headquarters in Colorado, centralizing key operations. It now has 40 resorts and employs about 55,000 in all seasons. It controls more than twice the number of resorts than its next-biggest North American rival, and intends to spend $2.2 billion over the next 15 years on upgrades that include lifts and snow-making.
For ski towns in the U.S., it’s feast or famine this season, with record growth in some businesses and shutdowns in others. To understand the impact of the pandemic, WSJ visited California’s Lake Tahoe region, which has the country's largest concentration of resorts. Photo: Lloyd Garden for The Wall Street Journal
Vail is keeping pace with rivals in certain regions. In Vermont, for example, the amount of available terrain at Vail Resorts locations has been comparable to that of its competitors, according to terrain reports published online by ski areas. The company said it now has nearly 85% of its trails open across its eight largest North American resorts, which is consistent with recent years.
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