And Breckenridge announced it was extending its season to Memorial Day.Ī. The competitive response is fascinating to me. If you’re looking for early- or late-season skiing, you’ll really like A-Basin, but isn’t it amazing how immediately Vail announced enhancements in snowmaking at Keystone and Breck? And they (Arapahoe Basin and Keystone) opened virtually simultaneously. That helps Ikon a little bit in Colorado. I think it’s the same level of excitement … It’s just fascinating to me how they both respond to each other’s moves, and how quickly and dramatically they’ve done that. You had Arapahoe Basin, which was part of Epic, now is with Ikon. How has it affected the marketplace versus Epic Pass?Ī. T hey’re selling over a million Epic Passes, and Alterra, while they’re not there, they’re growing at a similar rate. Now the combination of inexpensive - or value, let’s say - and the huge menu of options has just juiced it. People used to be loyal to a particular area or areas. Over the next decade plus, as new resorts were added, and more and more promotion went into the pass, and its popularity grew incredibly, you got to a place where we are now where the pass is the brand. They sold it in the destination markets as well as in the Front Range. Vail turned that model on its ear with Epic when they opened it up to everybody. So the strategy for most resorts was to offer a deal in your local competitive market, but make it difficult for the higher-spending destination guest to acquire. In other words, your New York or Dallas customer was willing to pay retail for the lift ticket (because) it was never near the most expensive part of the trip. Most resorts felt you had to “fence” that kind of product. That was swirling out there, but it was largely viewed as a regional thing where you had a very competitive market. Everybody was aware of the fact that you could excite the market and sell a heck of a lot of passes if you offered a great deal and people would commit, they would commit early to get that price. There had been a number of regional passes, largely in the Colorado market, and the idea of an inexpensive pass was out there - the Winter Park Buddy Pass. Why did Epic Pass work so well for skiers, snowboarders and the company’s bottom line? How did it drive Vail Resorts’ expansion, snapping up other resorts?Ī. Think of (another) industry where your customer provides your working capital - the money is in the bank.
There’s no question that when you have great, great snow, the resorts are probably leaving a little on the table. If you have a super (snow) year, people will pay that premium, stand at the ticket window and pay extra. At the same time, you take the peaks out. When they went all in with Epic, it was to take the valleys out. Rocky Mountain resorts set record for skier visits for second consecutive seasonĪ. For skiing? A North American renaissance.” How is the industry is flourishing, how are consumers benefiting?AA/ The subtitle of your book really sums up where we’re at: “Alterra counters Vail Resorts mega-passes transform the landscape the industry responds and flourishes. We asked Diamond how those passes came to change the way we ski. Colorado skiers who purchase those passes now think not only about skiing a limited number of areas in-state, but at resorts across the United States and even foreign countries. 2020,”Chris Diamond, retired president of Steamboat Ski & Resort Co., argues that Epic and Ikon have been boons for the industry and for consumers, with the net effect of driving up numbers after years of flat growth. Together, these passes have transformed the business of skiing. In his new book, “Ski Inc. Ikon also is good at six Colorado resorts: Copper Mountain, Steamboat, Winter Park, Aspen Snowmass, Eldora and Arapahoe Basin. Epic covers six Colorado resorts: Vail, Beaver Creek, Breckenridge, Keystone, Crested Butte and Telluride. Ikon owns 14 resorts and has 27 partners. This season, Epic Passes is accepted at 37 resorts owned by Vail Resorts and another 42 partners around the world. In 2018, a merger between KSL Capital Partners and the owners of Aspen Snowmass created a Denver-based rival, Alterra Mountain Company, which countered Epic with its own Ikon Pass. The pass made it easier (and cheaper) for skiers and snowboarders to traverse multiple resorts in a season. Monday, June 5th 2023 Home Page Close Menuīroomfield-based Vail Resorts revolutionized American skiing in 2008 with the introduction of the Epic Pass, a season pass good at company-owned resorts with privileges at “partner” resorts.
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