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Vail Resorts Eyes Park City Lift Projects in 2026 and 2027

Peter Landsman29 Comments
Rendering of the proposed Canyons Village gondola set for construction next year at Park City Mountain.

Vail Resorts today released its fiscal 2025 fourth quarter and full year earnings report, including updates on pass sales, cost cutting and capital improvements. Net income for the year ended July 31st rose 21 percent to $280 million compared with $231.1 million a year earlier. Resort Reported EBITDA landed at $844.1 million compared to $825.1 million for fiscal 2024, an increase of 2 percent. On the less bright side, pass product sales for next season declined 3 percent in units and rose just 1 percent in dollars through September 19th despite a 7 percent price increase. The Company provided an outlook for fiscal 2026, expecting net income attributable to Vail Resorts, Inc. to decline to between $201 million and $276 million and Resort Reported EBITDA to fall between $842 million and $898 million. In a subsequent release, Vail announced the departure of two longtime board members. Vail Resorts’ share price has fallen roughly 15 percent year to date and declined 2 percent after hours upon the earnings release.

“The results from this past season were below expectations and our season-to-date pass sales growth has been limited,” noted Rob Katz, Vail’s newly-returned CEO. “We recognize that we are not yet delivering on the full growth potential that we expect from this business, in particular on revenue growth, in both this past season and in our projected guidance for fiscal year 2026. However, we are confident that we are well positioned to return to higher growth in fiscal year 2027 and beyond.” Vail acknowledged an outsized focus on email for attracting guests and a drive toward season pass sales at the expense of lift ticket revenue. “Our approach to engaging with guests has not kept pace with shifting consumer behaviors and as a result, we have not been able to fully capitalize on our competitive advantages or adapted our execution appropriately to respond to shifting dynamics,” Katz said. “While email was for many years our most effective channel, its impact has declined significantly in recent years, and we’ve been slow to shift to new and emerging marketing channels. We also believe we need to shift more focus to marketing our lift ticket business, which has not received the same level of focus, creativity, and resources as pass penetration increased.” Commenting on recent pass sales, Katz noted the company is seeing lower renewal rates from less-tenured passholders and fewer new passholders. Renewal rates are better for people who’ve held a pass for many years. ” We continue to see long-term opportunity to further expand the reach of our pass program,” Katz said.

Vail is largely on track with its resource efficiency transformation plan announced a year ago. At the time, the company planned to achieve $100 million in annual cost savings by fiscal 2026 through scaled operations, global shared services and expanded workforce management. It achieved $37 million in savings for fiscal 2025 and plans $75 million in savings in fiscal 2026. Vail plans to exceed $100 million in efficiencies in fiscal year 2027.

The under construction Canyons Village parking structure, set to be served by a new gondola in late 2026.

Vail traditionally announces new lift projects and key capital priorities for the following year in September. This go around Vail affirmed its commitment to build a new Canyons Village gondola in 2026, replacing the aging Cabriolet. Subject to approval, the 10 passenger gondola will include a mid-station to service the middle village and will also serve the new Canyons Village parking structure, set to open this winter. “This new gondola will provide an upgraded arrival experience to the resort and complement the Canyons Village Parking Garage, a new covered parking structure with over 1,800 spaces,” said Vail. Vail Resorts and the Canyons Village Management Association will split the cost of the village gondola, similar to the nearly complete Sunrise Gondola by Leitner-Poma.

Notably Park City plans to resubmit plans to replace Eagle and Silverlode, projects sidelined in 2022 over a process dispute. If approved, the six-seater Eagle and eight-seater Silverlode would be constructed in 2027. Vail sent the original Doppelmayr equipment for these lifts to Whistler Blackcomb in 2023 and 2024 so the project will need to be contracted anew.

Equipment for Park City’s Eagle and Silverlode replacements seen in 2022, before the project was blocked by local residents.

The only other capital projects Vail announced across its 42 resorts was a hotel renovation at Vail and additional functionality in the My Epic App. There certainly are other needs, however, and additional projects could be announced with Vail’s next earnings in December.

News Roundup: Bonus Mountains

Peter Landsman7 Comments

“We’re in the process of removing the D-Lift. Thanks to last year’s Epic Lift Upgrade – the new Broadway Express – our updated lift infrastructure provides faster, more efficient access than what D-Lift provided, and similar terrain can be accessed at Hunter North via the Northern Express. At this point, the lift is both redundant and outdated, and the time and resources needed to revive this lift are better focused where guests will see a positive impact to their experience on mountain, like our snowmaking upgrades.

The Highlands Poma is something our team has discussed as part of long-term planning. We’re always exploring ways to enhance the guest experience, and that lift remains part of the broader conversation. For now, our focus is on showcasing the significant upgrades we’ve already delivered—Broadway Express, Otis, and automated snowmaking additions—along with maximizing the terrain available on Hunter North, West, and East. It’s also worth noting that Hunter is the only ski resort in New York to feature three high-speed six-passenger lifts: Northern Express, Katskill Flyer, and Broadway Express. For now, we’re confident in the strength and efficiency of our current lift system.”

RFP E26-111 CMGC Services for the Eaglecrest Pulse GondolaDownload

News Roundup: Superstar

Peter Landsman22 Comments

News Roundup: Chinook

Peter Landsman10 Comments

News Roundup: In the South

Peter Landsman9 Comments

Bluewood Sues Steelhead Systems over Stalled Lift Project

Peter Landsman15 Comments

On Friday I reported Bluewood’s used detachable quad installation would be delayed until next year due to a dispute with the lift’s broker, now revealed as Steelhead Systems Inc. (SSI) of British Columbia. Both parties released statements today and I obtained a copy of the lawsuit, filed by Bluewood’s owners on August 11th. The complaint alleges Steelhead Systems, together with sister shipping company Mar Divinia Ltd. of Alberta and their principal, Zrinko Amerl, engaged in “breach of contract, negligent misrepresentation, and unjust enrichment” involving the sale of the used chairlift from Austria. Steelhead Systems counters “we strongly deny the allegations of dishonesty and bad faith made in WGSKI’s press release,” contending it continued shipping parts to Washington as disputes arose over invoices. Barring a settlement, the case will play out in the Supreme Court of British Columbia in Vancouver.

The parties signed to relocate the lift on June 7th, 2024 and announced it to the public two weeks later. Bluewood would pay €1.38 million for the used Doppelmayr detachable quad with bubbles, US$600,000 for shipping, US$88,000 for “optimization engineering” and a price “determined before shipping” for “engineering, loading, bullwheel cradles, containers and other adjustments.” All equipment was to be delivered by July 15th, 2025 so Bluewood could complete installation and open the lift to the public for the 2025-26 season. It would become Bluewood’s first detachable lift, reducing base-to-summit ride time from 12 minutes to less than six.

Bluewood’s parent company, WGSKI, LLC, says it paid invoices totalling $2.2 million plus additional expenses billed including site visit, document scanning and construction consulting. The dispute centers on further invoices sent beginning in late May 2025. Over time the US dollar weakened in relation to the Euro, resulting in SSI invoicing Bluewood $110,400 for an exchange rate adjustment. Second, shipping costs increased by $425,700 on top of the $600,000 estimate – an increase of more than 70 percent. In its complaint, Bluewood’s attorney calls these amounts “inflated and unjustifiable.” On June 18th, Bluewood proposed taking over shipping itself if SSI agreed to refund the $600,000 already paid for shipping. Bluewood also alleged Steelhead had not performed optimization engineering it paid for. On July 3rd, Bluewood alleges Steelhead generated another invoice for a 16th tower at a cost of $30,208. These invoices weren’t paid as the dispute escalated.

Bluewood contends it has paid in full for the lift. As of last month, 23 out of 27 containers had been delivered, representing approximately 90 percent of the lift. “SSI has failed or refused to provide relevant details regarding the status of what has been shipped and when or how it will be delivered to WGSKI at Bluewood,” WGSKI alleges. A third potential complication, not part of the lawsuit, is new tariffs on goods imported to the United States from the European Union announced after the contract was signed. I’m told Bluewood is responsible for any tariffs as the importer of the lift, another hiccup on top of exchange rates and shipping costs.

Notice of Civil ClaimDownload

Bluewood says it has endured numerous costs including lost revenue, lost opportunity, lost market share and interest expense as a result of delaying the project by a year. It’s seeking immediate delivery of remaining equipment plus damages. “Substitutes for the Equipment are not readily available on the open market and WGSKI stands to suffer irreparable harm if the Equipment is not delivered promptly,” the suit notes. Bluewood also seeks to hold Amerl personally liable for alleged contract breaches, calling Steelhead Systems “a sham corporation that is merely an alter ego for Mr. Amerl and which he uses to protect himself from personal liability for his wrongful and dishonest conduct.”

Steelhead Systems specializes in relocating used lifts from Europe to the United States and Canada in partnership with Pro-Alpin Ropeway Services of Austria. Before founding SSI, Amerl once bought Fortress Mountain, Alberta from Resorts of the Canadian Rockies and tried reviving the Drumheller Valley Ski Hill. Both mountains have since closed. Amerl pivoted and his companies successfully relocated a bubble quad chair from Austria to Mission Ridge, Washington in 2020. Amerl contends his business allows small ski areas like Mission Ridge to access high quality, used equipment at a fraction of the cost of buying new.

Simultaneously with the Bluewood project, Amerl is currently helping Eaglecrest, Alaska bringing a pulse gondola from Austria to serve as a sightseeing lift for cruise ship passengers. That project has been beset by years of delays which Amerl argues aren’t his fault. Eaglecrest is owned by the City and Borough of Juneau, has lost money for years and fired its General Manager last year. So far Juneau taxpayers have fronted $1.33 million for the gondola, $1.1 million for shipping and $1.86 million for additional towers, a haul rope, extra sheaves, grips and hangers. The gondola has been mostly delivered and engineered with the City expected to issue an RFP for installation soon.

There’s an argument ski areas like Eaglecrest, Mission Ridge and Bluewood simply could not afford brand new bubble chairs and gondolas from Leitner-Poma or Doppelmayr and used lifts are their only option. “Steelhead Systems has always been committed to helping small resorts prosper and grow and our track record is unblemished,” notes Amerl.

Luckily Bluewood is not without a base-to-summit lift this season. The new Skyline Express was slated to replace a Borvig triple chair dating back to 1978. Luckily that lift remained intact alongside construction of the new lift’s foundations. Bluewood did remove the chairs last spring and is in the process of re-installing them. Construction continues on the new lift’s foundations with the goal of having the detachable quad operable for winter 2026-27.

Steelhead Systems has not yet filed its response to Bluewood’s claims in court. “Steelhead has acted in good faith throughout its dealings with WGSKI and remains committed to upholding the highest standards of business integrity and professionalism,” the company said. “We are confident that the legal process will confirm that Steelhead has fulfilled its obligations appropriately.”

Bluewood Postpones Detachable Dream

Peter Landsman9 Comments

Southeast Washington skiers will have to wait one more year for their first high speed chairlift. Ski Bluewood revealed a dispute with the broker of a used bubble quad has pushed the project beyond completion for this winter. “This Summer we had every intention of installing the new Skyline Express,” the independent mountain wrote in a letter to passholders. “It is a major upgrade and the first high speed lift in Bluewood’s history. We are beyond excited, and we know many of you are too. Unfortunately, due to an ongoing dispute with the lift broker, a few key components of the lift have been significantly delayed,” the letter continued.

This particular lift operated from 1993 to 2025 at Sölden in Austria. While aging lifts in the Alps are generally high quality and well maintained, importing used lifts from Europe has a checkered history in the United States. Mission Ridge successfully debuted the Wentachee Express in 2020, relocated from Brixen, Austria. Alaska’s Eaglecrest imported a pulse gondola from Austria in 2022 but struggled to acquire additional parts and complete installation. The primary importer of such lifts is Steelhead Systems, though Bluewood did not identify the broker it’s working with.

Luckily Bluewood planned for this eventuality and kept its base-to-summit triple inact. The Skyline Express triple will continue operating for one more season as it has since 1978. Because of the delay, Bluewood promised to compensate season passholders via a $100 credit toward anything at the mountain. Bluewood plans to continue working on foundations so vertical construction can hit the ground running in summer 2026. “We have taken formal legal action to resolve the situation and secure delivery of the remaining parts,” Bluewood noted.

News Roundup: Upheld

Peter Landsman3 Comments

News Roundup: Moonlight West

Peter Landsman28 Comments

Snow Triple Play to Launch with 15 Mountains

Peter Landsman6 Comments

Snow Partners has revealed details of its upcoming frequency card, tailored toward casual and traveling skiers in the Northeast. The Snow Triple Play will offer three total days across Snow Partners’ two mountains in New Jersey, ORDA’s three mountains in New York, Les Sommets’ four mountains in Southern Quebec plus others in New York, Massachusetts, Connecticut, Maine and Nova Scotia. The first thousand cards will sell for $169.99 plus a 5 percent processing fee, working out to just $59.50 per day. The list price will be $199.99 plus 5 percent or exactly $70 per day of skiing. Either way, that’s a huge discount for resorts like Whiteface, Mountain Creek and Pleasant Mountain. In order to use all three days, card holders must visit at least two mountains; they cannot use all three days at one mountain. Details on potential blackout dates are still forthcoming. The pass will go on sale on Labor Day and sell through Christmas Eve.

“We recognized that there’s a significant portion of the skiing and snowboarding population that loves the sport but doesn’t ski frequently enough to justify a full Season Pass,” said Dave Belin, CFO of Snow Partners and COO of the Snow Triple Play. “The Snow Triple Play bridges that gap, offering substantial savings while giving skiers the flexibility to explore different mountains throughout the region.” He noted 73 percent of the 11+ million skiers and snowboarders in the US ski five days or less each season while most existing season pass products require skiing five days or more to pencil out.

The pass will particularly appeal to Tri-State area skiers, with options for redemptions across New York, New Jersey, Connecticut and Massachusetts. Popular ski states Vermont and New Hampshire are noticeably absent from the initial partner list, making the product less appealing to Boston residents. Interestingly, Snow Triple Play includes Boyne-owned Pleasant Mountain in Maine but not Boyne’s other New England resorts in Maine or New Hampshire. Similarly, the pass includes the four Les Sommets near Montreal but not Sommet Edelweiss near Ottawa. Snow Partners also signed Ski Martock in Nova Scotia but not sister mountain Cape Smokey. Independent mountains on the pass are Oak Mountain, New York; Plattekill, New York; Mount Southington, Connecticut and Ski Butternut, Massachusetts.

Another interesting aspect of this product is the lack of overlap with other passes. Not one of the 15 mountains on Snow Triple Play participates in Epic, Ikon or Indy. At such a low price point, serious skiers could easily snag a Snow Triple Play card on top of their usual mega pass and check out three new mountains.