Vail Resorts, Inc.
Vail Resorts, Inc. (NYSE: MTN) operates the world's largest owned and operated network of destination mountain resorts and regional ski areas. The company's website is www.snow.com. From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure.
What Vail Resorts, Inc. does
In the company’s own words
Vail Resorts, Inc. (NYSE: MTN) operates the world's largest owned and operated network of destination mountain resorts and regional ski areas. The company's website is www.snow.com.
The company operates through three reportable segments: Mountain, which generated approximately 88% of net revenue; Lodging, which represented 12%; and Real Estate, which contributed less than 1%. The Mountain segment operates 42 world-class destination mountain resorts and regional ski areas across North America, Europe, and Australia, along with ancillary services including ski schools, dining, and retail/rental operations. The Lodging segment owns and manages luxury hotels under the RockResorts brand, condominium units near mountain resorts, National Park Service concessioner properties including the Grand Teton Lodge Company, a resort ground transportation company, and mountain resort golf courses. The Real Estate segment develops and sells real estate in resort communities.
Vail Resorts' portfolio includes iconic destination resorts such as Vail Mountain, Breckenridge, Park City, Beaver Creek, and Whistler Blackcomb, complemented by regional ski areas strategically positioned near major U.S. population centers in the Northeast, Mid-Atlantic, and Midwest regions. The company also operates ski areas in Australia and Switzerland. During the 2025/2026 ski season, the company's North American resorts attracted approximately 13.1 million skier visits, representing roughly 17.9% of North American skier visits.
The company's business model centers on season pass and Epic Day Pass products, which generated approximately 70% of lift revenue and 73% of total visitation during fiscal 2026. Pass holders benefit from the Epic Mountain Rewards program offering discounts on food, lodging, and lessons, plus Epic Coverage providing refunds for qualifying closures and personal circumstances. The Lodging segment manages approximately 4,500 owned and managed hotel rooms and condominium units.
Vail Resorts differentiates itself through its integrated, fully-owned network connected by a unified pass and marketing ecosystem supported by proprietary technology platforms including the My Epic App. The company has invested over $560 million in lift upgrades and $105 million in snowmaking improvements since 2016, positioning itself as a leader in capital investment and guest experience innovation across its geographically diverse resort network.
Company details
- Sector
- Consumer Discretionary
- Industry (SIC)
- Services
- Headquarters
- BROOMFIELD, CO
- Fiscal year end
- July
- CIK
- 812011
- SIC
- 7990
Financial performance, year by year
Fiscal 2012–2026 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns Vail Resorts, Inc. — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Superinvestors in Vail Resorts, Inc. · what they did last quarter
Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.
Largest fund holders · Vail Resorts, Inc.’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Vail Resorts, Inc.’s bonds, as funds hold them
Funds report holding 3 issues of Vail Resorts, Inc.’s debt, $564.28M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 6.12%, maturing 2030 to 2032.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
Compare this company with peers, find it in your funds and follow its financial history with your connected AI:
- “How do Vail Resorts, Inc. and its peers compare on margins and cash generation over ten years?”
- “Where did five years of Vail Resorts, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
- “What changed in Vail Resorts, Inc.'s last four quarterly filings that the numbers alone won't show?”