Vail Resorts MTN Business Segments
| Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | ||
|---|---|---|---|---|---|---|
| Total Reported EBITDA by Business | ||||||
| Lodging | $6.81M+879% | -$874K-130% | $2.9M-29.1% | $4.1M-66.7% | $12.29M+501% | |
| Mountain | $579.61M+37.3% | $422.17M+396% | -$142.59M— | —— | $635.44M+38.9% | |
| Real Estate | -$993K+72.3% | -$3.59M-131% | $11.48M— | $0-100% | $6.35M+500% | |
| Other Expenses by Business | ||||||
| Lodging Operating Expense | $20.92M-4.4% | $21.87M-22.9% | $28.36M-9.5% | $31.34M+57.6% | $19.88M+2.1% | |
| Mountain Operating Expense | $137.6M-6.9% | $147.87M+55.0% | $95.42M+19.5% | $79.87M-44.7% | $144.41M-6.9% | |
| Real Estate Operating Expense | $1.48M-11.6% | $1.67M+2.8% | $1.62M+24.7% | $1.3M-21.7% | $1.66M-5.5% | |
| General and Administrative Expense by Business | ||||||
| Lodging Operating Expense | $13.22M-12.8% | $15.17M+8.8% | $13.93M-3.8% | $14.49M-5.5% | $15.33M-5.3% | |
| Mountain Operating Expense | $89.34M-16.1% | $106.45M+10.3% | $96.49M+5.1% | $91.82M+1.3% | $90.68M-7.8% | |
| Labor and Related Expense by Business | ||||||
| Lodging Operating Expense | $29.26M-5.8% | $31.05M-15.3% | $36.68M-1.4% | $37.2M+19.4% | $31.15M-4.1% | |
| Mountain Operating Expense | $238.35M-6.0% | $253.69M+108% | $122.08M+0.4% | $121.59M-52.6% | $256.34M-3.1% | |
| Goodwill by Business | ||||||
| Lodging | $45.01M0.0% | $45.01M0.0% | $45.01M0.0% | $45.01M— | —— | |
| Mountain | $1.66B+0.3% | $1.65B+2.1% | $1.62B-0.7% | $1.63B— | —— | |
| Effects of changes in foreign currency exchange rates by Business | ||||||
| Lodging | $0— | $0— | $0— | —— | —— | |
| Mountain | $27.87M+21.8% | $22.88M+314% | -$10.69M— | —— | —— | |
| Lodging Revenue Net by Product | ||||||
| Dining | $13.82M+3.3% | $13.38M-31.0% | $19.38M+8.9% | $17.8M+19.7% | $14.87M+8.1% | |
| Golf | $0— | $0-100% | $7.77M-1.3% | $7.88M— | $0— | |
| Lodging revenue (excluding payroll cost reimbursements) | $70.2M+4.4% | $67.22M-17.9% | $81.87M-6.0% | $87.12M+10.8% | $78.66M+12.1% | |
| Managed condominium rooms | $28.35M+8.6% | $26.09M+169% | $9.69M-4.2% | $10.11M-69.0% | $32.63M+20.5% | |
| Other | $9.98M-2.2% | $10.2M-38.5% | $16.58M-11.3% | $18.7M+101% | $9.31M-10.6% | |
| Owned hotel rooms | $12.86M+0.9% | $12.74M-55.2% | $28.45M-9.9% | $31.57M+109% | $15.1M+12.4% | |
| Payroll cost reimbursements | $5.11M+17.0% | $4.37M+13.9% | $3.84M+21.7% | $3.15M-25.6% | $4.24M+12.3% | |
| Transportation | $5.2M+8.2% | $4.8M— | —— | $1.07M-84.1% | $6.74M+22.4% | |
| Mountain Revenue Net by Product | ||||||
| Dining | $99.14M+17.2% | $84.63M+328% | $19.79M+7.6% | $18.39M-83.4% | $110.97M+22.1% | |
| Lift | $729.38M+16.5% | $625.93M+1,161% | $49.64M+4.3% | $47.59M-93.8% | $770.26M+19.4% | |
| Other | $55.29M+0.3% | $55.12M-28.5% | $77.13M-4.9% | $81.1M+41.3% | $57.4M-2.9% | |
| Retail/Rental | $104.21M-17.3% | $126.01M+309% | $30.79M+27.8% | $24.09M-78.8% | $113.68M-15.9% | |
| Ski School | $141.76M+17.5% | $120.63M+1,430% | $7.89M-19.3% | $9.77M-93.9% | $160.24M+20.5% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Vail Resorts break its business down?
- Vail Resorts (MTN) reports total reported ebitda by business across 3 parts — Lodging, Mountain and Real Estate. Each is extracted from the segment footnotes and tracked over time.
- Where does Vail Resorts's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Vail Resorts's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.