Vail Resorts CEO Explains How His Company Changed the Economics of Skiing

In a new interview with The Wall Street Journal, Vail Resorts’ CEO, Rob Katz, explained how his company reimagined the economics of skiing. 

“What would typically happen in the ski industry back 20 or 30 years ago was that you’d wait to see,” said Katz to Roberto Ferdman, a correspondent with the Journal. “Was this a good ski year? Did it snow a lot?”

Katz, of course, was laying the groundwork for the Epic Pass, the all-consuming Vail Resorts ski pass product that provides access to a huge number of resorts.

“If we didn’t have good snow, then no one would come to the resort,” he continued. “There was a real sense that, if you worked in the ski industry, you’re almost a snow farmer.”

Seasonal weather variability did—and still does—put considerable pressure on ski resort operators who already work in an expensive business. Snowmaking, grooming, chairlifts, and employees don’t come cheap. A dry, snowless season that stems the flow of skiers makes those costs hurt more.

So, Katz said he and the Vail Resorts team got together to answer a question: “How do we change the profile of the industry?”

That prompted another question: “Would it be possible to get people to buy their skiing before the season?” 

There was merit to the idea. By getting skiers to commit in advance, they could hedge against season-by-season snow fluctuations. Still, at the time, Katz admitted that it seemed like a silly question. After all, who would buy a pass well before they knew how good the skiing conditions were going to be?

A lot of people, it turns out. The product Vail Resorts devised, the Epic Pass, has become one of the most impactful developments in skiing in decades, for better or worse.

“This was an industry-wide, ultimately global transformation that happened that our company absolutely led,” Katz said.

Watch The Wall Street Journal interview below. It touches on the criticisms leveled at the Epic Pass, and covers an alternative to the ski resort conglomerates in Montana: Whitefish Mountain Resort.

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