Vail Resorts Announces 2021-22 Epic Pass Suite, Cutting All Prices by 20%
Earlier today, Vail Resorts announced its suite of pass products for the 2021-22 winter season. Most notably, all Epic Pass products have received a 20% price drop compared to last season. The top-of-the-line Epic Pass, which offers unlimited access with no blackouts to all resorts owned by Vail, will start at just $783— nearly $200 lower than the competing full Ikon Pass. The lower-level 2021-22 Epic Local Pass, which contains holiday blackouts and limited access at some resorts, starts at only $583. Regional Epic products, such as the Northeast Value Pass and Tahoe Local Passes, remain available for a lower price.
Vail Resorts is also reformatting their Epic Day Pass product, splitting it into two access tiers. The lower tier, which will offer access to 29 resorts, will start at just $67 for a 1-day pass. The upper tier, which is essentially the same product as last year’s Epic Day Pass, still receives the 20% drop and starts at $87 for a 1-day non-holiday pass.
All 2021-22 passes will continue to come with Epic Coverage. This policy, first introduced for the COVID-impacted 2020-21 season, will provide refunds for “any portion of the season that is lost” in the event of COVID-19 resort closures. This coverage also provides insurance on the pass for job loss, injuries, or a number of other personal matters.
Most 2021-22 Epic Pass products are on sale now on the Epic website. However, the new cheaper Epic Day Pass tier will not be available until May.
Link to press release: http://investors.vailresorts.com/news-releases/news-release-details/historic-move-vail-resorts-reduces-all-pass-prices-20-percent
Our Take
Vail Resorts talked a big game for this announcement (the official press release was delayed by a day in the wake of the tragic Boulder shooting Monday evening), and it appears that with this price cut, this emphasis had substance. Epic’s pass products will substantially undercut Ikon price-wise for the upcoming season, and some Ikon renewers may even find a better deal from the full equivalent Epic product’s price.
Epic’s regional pass products, such as the Tahoe Local Pass and Northeast Value Pass, were already great deals for those skiing exclusively in one region, and they’ll become even better values with the price drop. Customers like these are going to be an even harder sell for Ikon, which has no equivalent regional pass offering.
It’s also worth touching on the Epic Day Pass change. Day ticket sales can be hard to predict with snow patterns varying across ski seasons, and despite the much lower prices, this new Day Pass structure should channel a more reliable revenue stream. The new entry-level pass may also provide a viable option for those looking to access some smaller Vail-owned regional hills, most of which would be a waste of money to visit using the more expensive full day pass. Don’t be surprised to see traditional lift ticket prices increase even more next year.
We’re certain Vail has crunched the numbers on this and expects to sell a greater number of passes with this decision. We wouldn’t be surprised to see this decision boost their short-term bottom line, but it also suggests that Epic resorts will continue to grow more crowded. We plan to return to major Epic mountains next season to re-evaluate crowd logistics.
This announcement isn’t good news for Alterra, which either retained or slightly increased Ikon Pass prices for 2021-22. Ikon has responded to product changes from Epic in the past, so it should be interesting to see if they follow suit again this time around.
