6am Shred Report... It's actually an earnings report from Vail Resorts, which owns 37 ski resorts that Tom & Gisele would feel comfortable Après-ing at. Plus, another 42 resorts are included in its "Epic" ski pass. Vail shares rose on word it's sold 22% more season passes than at this time last year, but we hit ice while running over those numbers.
- Pro move: Read Vail Resorts' actual earnings report before your next trip — it's subtly packed with intel on your go-to mountains (there's a 6-person chairlift coming to Okemo).
Pizza vs French fries. Boarders vs Skiers... Epic Pass vs Ikon Pass. Society is increasingly divided between the 2 imperial ski passes that all the resorts band together under. Global warming forces them to team up — and that forces skiers and boarders to pick a side early in the season.
- The passes: Vail's Epic Pass covers 79 resorts. Alterra's Ikon Pass offers 41. Your friend group this winter will be the humans who also have your pass.
- The reality for resorts: Just 1 degree warmer could turn a blizzard into rain. Less dependable snow makes owning an independent resort tougher.
- The insurance policy: By joining an alliance like the Epic or Ikon pass, mountains can protect themselves from a lame winter — fellow alliance-members with better weather can provide soft snow cover to fall back on.
Don't let Vail's acquisitions distract you... The number of Epic Season Passes sold jumped 22%. Sounds awesome. But that's because the pass added 17 new resorts this year. If you had a Mount Snow pass, now you've probably got an Epic one (because Vail acquired it and many others). Sales grew in part because Vail literally absorbed new mountains — that doesn't make its existing biz more profitable. In fact, it lost money last quarter (snowmaking = expensive).