Growing up in Colorado, I was introduced to the exhilarating world of skiing at Arapahoe Basin. This mountain, nestled against the rugged Continental Divide, was more than just a ski destination—it was a vibrant community. On “the beach,” a stretch of snow between the parking lot and the lifts, skiers gathered for fun, camaraderie, and adventure. Reggae music played, dogs frolicked in the snow, and old-timers shared stories with newbies. There was a sense of freedom, community, and a whole lot of fun.
But skiing today looks quite different in most of North America. The industry has transformed into a duopoly, offering skiers a choice between two passes: Epic or Ikon. Vail Resorts’ Epic Pass and Alterra Mountain Company’s Ikon Pass dominate the market, offering access to numerous ski areas across the globe. While the industry appears to be thriving, there is a darker reality unfolding behind the scenes.
High-spending pass holders may benefit from the bargain, but the prices of everything else associated with skiing have skyrocketed. Single-day tickets, ski school, and accommodation have become prohibitively expensive. Locals are being priced out, and workers are feeling the squeeze. The essence of skiing, the culture and community that made it so special, is gradually fading away as corporate ownership takes over.
The story of how this happened can be traced back to private equity. In the early 1990s, Apollo Capital Management acquired Vail and Beaver Creek, two iconic Colorado ski areas, and transformed them into Vail Resorts. From there, Vail embarked on an aggressive expansion strategy, acquiring resorts, retailers, and hotels across North America and beyond. The company’s annual revenue tripled, and Vail Resorts became an $8.6 billion empire with 42 resorts.
The key driver of Vail’s expansion was the introduction of the Epic Pass. This pass allowed access to multiple resorts, generating pre-season revenue and providing a safety net amidst uncertain snowfall due to climate change. Vail’s success prompted rivals to join forces, leading to the birth of Alterra Mountain Company and its Ikon Pass. The duopoly had taken hold.
For passionate skiers, these passes offer unbeatable value, granting access to world-class mountains at a fraction of the price of the past. However, this accessibility primarily benefits those with the means to afford the passes upfront. For the working dad in Denver looking to take his kid skiing for a day, the costs quickly add up. From expensive parking to exorbitant lift ticket prices, skiing has become a luxury for the privileged few.
Even for avid skiers, the experience has lost its charm. Overcrowded slopes and long lift lines have become the norm. The rising cost of accommodation has made staying overnight a luxury only the wealthy can afford. The spirit of skiing, the irreverent camaraderie and sense of community, has been replaced by corporate policies and a homogenized experience.
Furthermore, workers in the ski industry are struggling. Vail Resorts has faced legal action for failing to compensate employees properly, and the disparity between executive compensation and worker wages is staggering. The soul of skiing and the livelihoods of those who make it possible are suffering under the extractive nature of private equity ownership.
While it may seem that skiers have no choice but to accept this new reality, there are glimmers of hope. Arapahoe Basin, renowned for its vibrant community, made a bold move in 2019. As the Epic Pass overwhelmed the mountain with crowds, A-Basin decided to leave the pass and offer its own season pass, allowing limited access to the Ikon Pass as well. The result? Fewer visitors but a profitable season, and the spirit of skiing alive and thriving.
As avid skiers, we find ourselves caught in a predicament. We despise what corporate ownership has done to skiing, yet we feel compelled to choose between the two dominant passes. It’s a futile outrage that extends beyond skiing—many industries are plagued by consolidation and limited choices. To bring about real change, companies and ski areas must prioritize values beyond growth and profit.
In the meantime, ski enthusiasts can support independent ski areas that prioritize community and preserve the essence of skiing. By seeking out these hidden gems, we can reclaim the spirit of adventure and camaraderie that made skiing so special in the first place. It may require a change in perspective and the willingness to explore new destinations, but it’s the only way to preserve the soul of skiing.