The changing face of the US ski industry, and what it means for skiers and boarders
Sponsored by SnowSearch — launching November 2017
The old-school North American ski industry is changing in front of our eyes. Resort-loyal baby boomers have given way to millennials with a deep desire to explore new mountain destinations, as is evident by the rise of multi-resort passes that promote travel across major ski regions by providing unlimited access to an array of resorts as opposed to a single hill (think ClassPass for snow sports).
Vail Resorts pioneered the innovative multi-resort pass concept with the advent of the EPIC Pass in 2008. Now priced at $879, Vail sold 650K+ such units during winter ‘15/’16. Following this wild success, Vail doubled down on the pass game by purchasing Whistler Blackcomb in BC and Stowe in VT in early 2017, which will be added to the ecosystem this coming season.
Back in April, Vail faced some unexpected company when an entity formed by KSL Capital Partners (Squaw Alpine) & Henry Crown and Company (Aspen Ski Co) joined the dialogue in a big way by acquiring Intrawest (6 resorts), Mammoth Resorts (4 resorts), and — just last month — Deer Valley. The Intrawest deal alone represented the largest transaction in the history of the US ski industry, and the acquisitions that followed went to show just how serious these guys are about becoming real contenders.
While KSL & Aspen have remained tight-lipped about their plans, the broader ski community is all but certain there’s a multi-resort pass product on the horizon. We speculate that this buying spree is far from over, and comparing each group’s regional presence can easily jog your imagination about what may be next! Check out the infographic below for a visual representation of how these players would theoretically stack up today (as of mid-Sept 2017):
Our take? In a few short months KSL & Aspen have compiled a serious portfolio with some sweet options across the US and Canada. While smaller from an acreage perspective — Vail Resorts owns some of the largest players by sheer size in Whistler, Park City, and Vail — the formidable new entity actually owns more individual mountains AND counts more total vertical feet than the incumbent.
There remain regional opportunities for growth for both entities — Vail lacks Mid-Atlantic and Quebec presence while KSL & Aspen doesn’t currently own resorts in the Midwest or British Columbia. Both could benefit additional New England outposts to better capture customers residing in cities like New York and Boston. We won’t get into specifics, but let’s just say we anticipate more major news will drop over the coming months.
Other big questions remain, such as will Deer Valley — one of 3 remaining skier-only resorts in the US — finally start allowing snowboarding?
One thing, however, is for sure; the biggest winners here will be consumers, who will benefit from unparalleled access to skiing and snowboarding at a fraction of historical cost. Get psyched!
Bryan Dunn
Co-Founder — SnowSearch
bryan@snowsearch.io
SnowSearch is the next gen snow sports travel platform. By sharing in our upside with passionate locals who contribute authentic content to our site, we are creating a true one-stop-shop for all things skiing and snowboarding. Explore, track, and book— dropping November 2017!
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