Over the next two years, Vail Resorts plans to lay off 14% of its corporate workforce, under 1% of its operations workforce and outsource its internal business services and call centers as it consolidates and positions itself for more growth.
The Broomfield-based company expects the moves to result in $100 million in annualized savings by the end of its 2026 fiscal year. Vail Resorts said the plan follows 10 years of expansion in which it went from 10 owned and operated mountain resorts to 42 resorts across four countries and doubled its workforce.
The company has the opportunity to use its resources more efficiently given the scale of its operations, its common technology system and data and analytics capabilities, Vail Resorts said in a statement Thursday.
“We believe this is a natural progression and next step for our company, that builds upon our success and paves the way for the next phase of growth,” Vail Resorts CEO Kirsten Lynch said.
Elimination of the positions over the next two years will affect less than 2% of the company’s total workforce, spokeswoman Lindsay Hogan said in an email. Corporate jobs include employees based in Vail’s headquarters in Broomfield and employees who work remotely.
“The corporate impacts are primarily focused on the consolidating and outsourcing of global shared services, such as call centers and internal business services. All impacted employees will have the opportunity to apply for other open roles,” Hogan said.
In fiscal 2024, which ended July 31, Vail Resorts reported it had about 7,600 year-round employees and roughly 44,900 seasonal employees. The company’s resorts in Colorado are Vail, Beaver Creek, Breckenridge, Keystone and Crested Butte.
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Vail Resorts’ other holdings in the West include Park City in Utah; Stevens Pass in Washington state; and Whistler Blackcomb in British Columbia, Canada. Other resorts in the U.S. are in the Northeast and Midwest.
Three of Vail’s resorts are in Australia and two are in Europe, including Crans-Montana Mountain Resort in Switzerland that was acquired earlier this year.
In a report on its fiscal results for the fourth quarter and 2024, Vail Resorts said its net income was $230.4 million, compared with $268.1 million for fiscal 2023. Vail said overall skier visitation declined 9.5% from the previous season, “driven by unfavorable conditions across our resorts in North America and Australia” and compared to the post-COVID record visitation of the 2022-2023 season.
“In North America, snowfall across our western resorts was down 28% from the prior year and our eastern U.S. resorts experienced limited natural snow and variable temperatures,” Vail Resorts reported in its financial results.
Revenue from Vail’s North American summer mountain business grew 15% from 2023.
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