Vail Resorts MTN Business Segments
| Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | ||
|---|---|---|---|---|---|---|
| Total Reported EBITDA by Business | ||||||
| Lodging | $6.81M-44.6% | -$874K-143% | $2.9M-33.4% | $4.1M+48.2% | $12.29M-22.1% | |
| Mountain | $579.61M-8.8% | $422.17M-7.7% | -$142.59M+1.0% | —— | $635.44M-0.5% | |
| Real Estate | -$993K-116% | -$3.59M-126% | $11.48M-23.9% | $0— | $6.35M+683% | |
| Other Expenses by Business | ||||||
| Lodging Operating Expense | $20.92M+5.2% | $21.87M+12.3% | $28.36M+1.6% | $31.34M+28.2% | $19.88M-18.6% | |
| Mountain Operating Expense | $137.6M-4.7% | $147.87M-4.7% | $95.42M+2.2% | $79.87M-28.1% | $144.41M+30.0% | |
| Real Estate Operating Expense | $1.48M-11.3% | $1.67M-5.1% | $1.62M+8.9% | $1.3M-11.8% | $1.66M+12.5% | |
| General and Administrative Expense by Business | ||||||
| Lodging Operating Expense | $13.22M-13.8% | $15.17M-6.4% | $13.93M-2.5% | $14.49M-2.2% | $15.33M+3.5% | |
| Mountain Operating Expense | $89.34M-1.5% | $106.45M+8.2% | $96.49M+4.2% | $91.82M+4.7% | $90.68M+3.4% | |
| Labor and Related Expense by Business | ||||||
| Lodging Operating Expense | $29.26M-6.1% | $31.05M-4.4% | $36.68M-1.5% | $37.2M+6.4% | $31.15M-10.9% | |
| Mountain Operating Expense | $238.35M-7.0% | $253.69M-4.1% | $122.08M+3.0% | $121.59M-33.5% | $256.34M+40.2% | |
| Goodwill by Business | ||||||
| Lodging | $45.01M— | $45.01M0.0% | $45.01M0.0% | $45.01M0.0% | —— | |
| Mountain | $1.66B— | $1.65B+4.5% | $1.62B-0.4% | $1.63B-0.2% | —— | |
| Effects of changes in foreign currency exchange rates by Business | ||||||
| Lodging | $0— | $0— | $0— | —— | —— | |
| Mountain | $27.87M— | $22.88M+153% | -$10.69M-55.1% | —— | —— | |
| Lodging Revenue Net by Product | ||||||
| Dining | $13.82M-7.1% | $13.38M-2.7% | $19.38M-2.9% | $17.8M+4.2% | $14.87M+2.7% | |
| Golf | $0— | $0— | $7.77M+2.9% | $7.88M+9.7% | $0— | |
| Lodging revenue (excluding payroll cost reimbursements) | $70.2M-10.8% | $67.22M-4.2% | $81.87M-2.3% | $87.12M+1.4% | $78.66M-4.3% | |
| Managed condominium rooms | $28.35M-13.1% | $26.09M-3.6% | $9.69M-17.2% | $10.11M-3.7% | $32.63M-7.8% | |
| Other | $9.98M+7.2% | $10.2M-2.0% | $16.58M+0.5% | $18.7M-4.9% | $9.31M-9.0% | |
| Owned hotel rooms | $12.86M-14.9% | $12.74M-5.2% | $28.45M+1.3% | $31.57M+4.4% | $15.1M+0.8% | |
| Payroll cost reimbursements | $5.11M+20.7% | $4.37M+15.9% | $3.84M+22.4% | $3.15M-10.2% | $4.24M-12.2% | |
| Transportation | $5.2M-22.9% | $4.8M-12.8% | —— | $1.07M-14.4% | $6.74M-5.7% | |
| Mountain Revenue Net by Product | ||||||
| Dining | $99.14M-10.7% | $84.63M-6.9% | $19.79M-4.1% | $18.39M+2.4% | $110.97M+1.4% | |
| Lift | $729.38M-5.3% | $625.93M-2.9% | $49.64M+22.8% | $47.59M-1.4% | $770.26M+3.3% | |
| Other | $55.29M-3.7% | $55.12M-6.7% | $77.13M+1.6% | $81.1M+6.9% | $57.4M+1.8% | |
| Retail/Rental | $104.21M-8.3% | $126.01M-6.8% | $30.79M+4.3% | $24.09M-0.9% | $113.68M-7.8% | |
| Ski School | $141.76M-11.5% | $120.63M-9.3% | $7.89M+15.3% | $9.77M+2.9% | $160.24M-0.6% |
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.