Mountain and Ski Resorts Market

How big is the Mountain and Ski Resorts Market in 2026?

Lift ticket and season pass revenue should carry the Mountain and Ski Resorts Market to USD 54.6 billion by 2036. FMI estimates the market at USD 19.4 billion in 2026 and projects a 10.9% CAGR from 2026 to 2036. The market was valued at USD 17.5 billion in 2025. Multi-Mountain Subscription Passes hold 58.4% by pass type in 2026. Ski Lift Passes and Multi-Resort Season Passes account for 40.2% by resort revenue stream, and Domestic Alpine Travelers represent 55.1% by visitor origin.

Record attendance in the Alps and pre-sold passes shape the outlook. Domaines Skiables de France counted 56.1 million skier days in France during winter 2025/26, up 2.4% on the prior winter [2]. Statistik Austria recorded 74.2 million overnight stays in Austria's winter season, up 2.5% [7]. Swiss hotels reached 18.7 million winter nights, which the Federal Statistical Office calls a historic high [8]. Domaines Skiables de France also reports French operators invested EUR 555.0 million in 2025, with about half spent on 48 new lifts [3].

Snow is the main restraint. NOAA reported record-low April snowpack in eight western US states in 2026 [13]. Vail Resorts offers a qualified example of how passes change that risk [1]. Its fiscal 2026 skier visits fell 13.4%, yet pass revenue rose 3.9%. Pre-sold passes cushioned one poor winter for one operator. They do not remove weather risk for resorts that sell most tickets at the window.

Key Market Trends & Insights

• Pass holders are buying unlimited access and skipping limited-day products. Vail Resorts reported pass units down about 12.0% through 18 September 2026, with sales dollars down only about 6.0%. The company sees relative strength in unlimited products and weakness in lower-frequency Destination passes [1]. Operators therefore earn more per pass even when unit counts fall.
• Lift replacement is the main capital programme at European resorts. French ski areas spent EUR 281.0 million on 48 new lifts in 2025, and 24 structuring devices cost about EUR 11.0 million each [3]. A detachable lift costs about EUR 9.0 million before tax [25]. Faster lifts raise daily capacity without adding terrain, which is how operators justify higher pass prices.
• Pass networks are being used to steer long-haul travellers to Asian slopes. Alterra added Madarao in Japan and two Chinese resorts to the Ikon Pass for winter 26/27, bringing the pass to 80 destinations in 13 countries [12]. Nippon Parking Development recorded a record 543 thousand inbound visitors at its eight Japanese ski resorts in winter 2025/26, up 23.3% [19].

Regional Highlights

• In Western Europe, the 2025/26 winter set attendance records despite thin snow at low altitude. France led the world with 56.1 million skier days, ahead of Austria at 53.7 million and the United States at 52.6 million [2]. GeoSphere Austria found Alpine snow depths among the five lowest since 1991 in the same winter [15]. High-altitude resorts with snowmaking captured demand that lower areas lost.
• In North America, a record-warm winter cut visits and shifted spending towards capital projects. Western Water Assessment reported US skier visits 9.0% below the ten-year average for 2025/26 [14]. Alterra responded with a capital programme of more than USD 350.0 million for 26/27, including new snowmaking at Solitude and Winter Park [11]. Resorts of the Canadian Rockies bought four new lifts for its British Columbia resorts in May 2026 [23].

Mountain and Ski Resorts Market Size and Forecast

Table 1: Mountain and Ski Resorts Market Size and Forecast

Market size and forecast	Value
Market size in 2025	USD 17.5 billion
Estimated market size in 2026	USD 19.4 billion
Projected market size by 2036	USD 54.6 billion
CAGR from 2026 to 2036	10.9%

Analyst Perspective

“Skiers now buy access months before the first snowfall. They compare pass networks on resort count, blackout rules and refund terms if a season fails. Operators win by adding fast lifts and reliable snowmaking at the resorts that anchor their pass, because those sites set the guest's view of the whole network. The barrier to growth is weather. One warm winter can cut visits by more than a tenth while the fixed cost of lifts, grooming and staff does not fall.”

- Ronak Shah, Principal Consultant, FMI

How is the Mountain and Ski Resorts Market segmented?

The Mountain and Ski Resorts Market is segmented by Pass Type, Resort Revenue Stream, Visitor Origin, Service Type, Booking Channel, Tour Type, Demography, Age Group, Resort Type, and Season. Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

• By pass type: Multi-Mountain Subscription Passes, Single-Resort Season Passes, Multi-Day and Day Lift Tickets, and Frequency and Limited-Day Passes.
• By resort revenue stream: Ski Lift Passes and Multi-Resort Season Passes, Lodging and Property, Ski School and Instruction, Dining and Retail or Rental, and Summer and Multi-Season Activities.
• By visitor origin: Domestic Alpine Travelers, International Long-Haul Travelers, and Cross-Border Regional Travelers. Visitor flows to winter destinations overlap with the wider snow and mountain tourism market.
• By service type: Skiing, Trekking, Rides, Sledding, Snowmobiling, and Others.
• By booking channel: Online Booking and In-Person Booking.
• By tour type: Independent Traveler, Group Trip, and Family Trip.
• By demography: Men, Women, and Children.
• By age group: 15 to 25 Years, 26 to 35 Years, 36 to 45 Years, and Over 45 Years.
• By region: North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and Middle East and Africa.

Why do Multi-Mountain Subscription Passes lead by Pass Type in the Mountain and Ski Resorts Market in 2026?

Multi-Mountain Subscription Passes hold 58.4% of the Mountain and Ski Resorts Market by pass type in 2026.

The pass moves revenue from the lift window to the spring and autumn before a season starts. Vail Resorts collected 3.9% more pass revenue in fiscal 2026 even though total lift revenue fell 3.5% and skier visits dropped 13.4% [1]. Guests who have already paid cannot cancel when snow is poor, so the operator keeps the cash. That certainty is why pass products now anchor the pricing of large networks.

Network size is the second reason. The Ikon Pass reached 80 destinations across five continents and 13 countries for winter 26/27 [12]. Vail markets its pass across 37 North American resorts, two Swiss resorts and three Australian resorts [1]. A single purchase that covers several countries suits travellers who book more than one trip. Smaller independent resorts join these networks to reach buyers they could not market to alone.

Single-Resort Season Passes, Multi-Day and Day Lift Tickets, and Frequency and Limited-Day Passes together hold the remaining 41.6% by pass type. Window pricing varies widely by resort size. A French adult day pass ranges from EUR 13.4 at Bessans to EUR 84.2 at the 3 Vallées for 2026-27 [25]. Average revenue per skier day across all French tickets was EUR 37.0 in 2025-26 [25]. Vail reports that its unit declines are concentrated in lower-frequency Destination passes, which shows that limited-day products are losing ground to unlimited access [1].

Table 2: Pass Type, 2026 Share

Leading Share	2026 market share
Multi-Mountain Subscription Passes	58.4%
All Other Segments Combined Share	41.6%

Why do Ski Lift Passes and Multi-Resort Season Passes lead by Resort Revenue Stream in the Mountain and Ski Resorts Market in 2026?

Ski Lift Passes and Multi-Resort Season Passes account for 40.2% of the Mountain and Ski Resorts Market by resort revenue stream in 2026.

Lift access is the product every guest must buy before any other spend takes place. Vail Resorts earned USD 1,451.1 million from lifts in fiscal 2026 [1]. That formed part of Mountain segment revenue of USD 2,503.2 million [1]. Ski lifts made up about 95.0% of the EUR 632.8 million that Compagnie des Alpes booked in its ski areas and outdoor division in 2025/26 [4]. Operators that own the lifts also control slope grooming and snowmaking, so lift revenue carries most of the fixed cost of the mountain.

Revenue per lift day is rising faster than visits. Compagnie des Alpes lifted revenue per skier day by 3.5% while skier days rose 0.9% on a like-for-like basis [4]. Austrian cable car operators counted about 54 million first entries in winter 2025/26, up about 4.0% [6]. Each extra first entry sells a pass or ticket before the guest reaches a restaurant or rental shop.

Lodging and Property, Ski School and Instruction, Dining and Retail or Rental, and Summer and Multi-Season Activities together represent the remaining 59.8%. These streams depend on visits more than on pre-sold passes. Vail's ski school revenue fell 10.3% to USD 278.1 million in fiscal 2026, dining fell 7.6% to USD 222.5 million and retail and rental fell 6.5% to USD 282.8 million [1]. Lodging held up better at USD 328.8 million, down 1.6% [1]. Summer business is growing at some Alpine operators. Zermatt Bergbahnen earned CHF 22.1 million from summer transport in 2024/25, close to 24.0% of its transport revenue [10].

Table 3: Resort Revenue Stream, 2026 Share

Leading Share	2026 market share
Ski Lift Passes and Multi-Resort Season Passes	40.2%
All Other Segments Combined Share	59.8%

Why do Domestic Alpine Travelers lead by Visitor Origin in the Mountain and Ski Resorts Market in 2026?

Domestic Alpine Travelers represent 55.1% of the Mountain and Ski Resorts Market by visitor origin in 2026.

Most skier days are generated by residents of the country where the resort is located. Swiss guests booked 9.5 million of the 18.7 million hotel nights recorded in Switzerland's 2025/26 winter season, a rise of 1.6% [8]. Nagano Prefecture counted 6.1 million ski area users across 78 operating areas in 2025/26 [18]. Domestic guests can ski on more weekends because they face no flight cost, so their visits are spread across the whole season.

The domestic lead is not uniform across countries. Austria's winter is driven by foreign demand, with 57.6 million of 74.2 million overnight stays coming from abroad and Germany alone supplying 26.5 million [7]. Vail Resorts reported that poor weather hit both local and destination guests at its Rockies and Tahoe resorts in fiscal 2026 [1]. The split therefore reflects each country's catchment and airport access.

International Long-Haul Travelers and Cross-Border Regional Travelers together account for the remaining 44.9%. These guests spend more per trip. Foreign guest nights in Japan rose 9.4% to 179.9 million in 2025 [20], and inbound visitors at Nippon Parking Development's ski resorts rose 23.3% in winter 2025/26 [19]. Package holidays sold to these travellers are tracked separately in the ski vacations market. Long-haul demand is also exposed to events far from the slopes. Jungfraubahn attributed its 3.3% fall in ski visits partly to fewer Asian visitors after the conflict in the Middle East [9].

Table 4: Visitor Origin, 2026 Share

Leading Share	2026 market share
Domestic Alpine Travelers	55.1%
All Other Segments Combined Share	44.9%

Source: Future Market Insights analysis of the mountain and ski resorts market, 2026.

What are the key drivers restraints and opportunities?

Mountain and ski resort revenue depends on how many guests reach the lifts and how much of that revenue is sold before the snow arrives. The same lifts and snowmaking that protect a good season sit idle in a poor one.

Driver

Pre-sold passes and lift upgrades are lifting revenue per guest. Vail Resorts grew pass revenue 3.9% in fiscal 2026 and reported that unlimited products held up better than lower-frequency passes [1]. Compagnie des Alpes set a record of 14.2 million skier days in 2025/26 and raised revenue per skier day by 3.5% [4]. New lifts support that pricing. Leitner delivered a set of new lifts in the DACH region for 2025/26 [24]. Its ten-seater gondola at Hauser Kaibling carries up to 2,800 people per hour [24]. Operators that raise uphill capacity can sell more pass days into the same peak weeks.

Restraint

Snow reliability and fixed costs set the limit on profit. NOAA reported that Utah's statewide snowpack reached only 20.0% of its median peak in April 2026, the lowest since records began in 1981 [13]. Vail's skier visits fell 13.4% and Resort Reported EBITDA fell to USD 745.7 million from USD 844.1 million [1]. Costs do not fall with visits. Payroll is about 30.0% of a French ski area's expenses and depreciation is close to one fifth of private operators' charges [25]. Canadian ski facilities saw their operating margin fall from 15.3% to 11.0% in 2024 as revenue slipped 4.4% [21].

Opportunity

Summer and multi-season activity can spread fixed costs over more months. French mountain resorts reached 65.8% lodging occupancy in the core summer season of 2026, a rise of 2.5% on summer 2025 [2]. Zermatt Bergbahnen reported summer transport sales of CHF 22.1 million, nearly 24.0% of its transport revenue [10]. Hiking, biking and lift-served sightseeing draw the same guests covered by the adventure tourism market. Aspen Snowmass is rebuilding its Ullrhof restaurant with more than 600 seats for winter 2026-27, which shows how base facilities are sized for year-round use [26]. Each summer visitor uses lifts and lodging that already exist.

How do land-use rules and public concessions affect mountain and ski resort operations?

Most resorts operate on public land under permits or concessions that set what they may build and charge. The US Forest Service issued a final rule on 25 March 2026 that redefines a ski area as a site managed primarily for skiing and removes the old test based on the share of revenue from snow sports [16]. The rule confirms that permitted facilities may support seasonal or year-round natural resource-based recreation [16]. US operators can therefore plan summer activities on permit land with less legal uncertainty.

In France, lift companies mostly run under a public service delegation and set prices with the agreement of the delegating commune [25]. That approval step limits how fast an operator can raise pass prices, even when investment needs rise. Austrian cable car operators used about 0.3% of national energy consumption, a figure the trade body cites in debates on snowmaking and lift power [27]. Operators that document their energy and water use early tend to win permit renewals with fewer conditions.

What limits reliable mountain and ski resort capacity and service quality?

Lift capacity is bought years ahead and cannot be added mid-season. Resorts of the Canadian Rockies ordered four Leitner Poma lifts in May 2026, of which one is scheduled to open in December 2026 and three for winter 2027/28 [23]. Vail Resorts plans calendar 2027 lift projects at Park City Mountain, including its first eight-passenger detachable chairlift in the United States [1]. A detachable lift costs about EUR 9.0 million before tax in France, against about EUR 4.0 million for a fixed chairlift [25]. Lift drives also create short, repeated peaks in electricity demand that resorts manage with equipment covered in the ski flywheel market.

Snowmaking decides whether early-season capacity can open at all. Austria's cable car association estimates that snowmaking secured 8.7 million overnight stays and EUR 1.2 billion of value added in the 2025/26 early season [6]. Alterra is building a 10-million-gallon reservoir at Deer Valley and doubling snowmaking capacity on Lower Hughes at Winter Park for 26/27 [11]. In Nagano, snow shortages and rising temperatures in the second half of 2025/26 forced many ski areas to close earlier than usual [18]. Service quality then depends on staff, since payroll is the largest cost line at French ski areas [25].

Where can resort operators win additional business?

Operators can sell more to guests who have already bought a pass. Ancillary lines at Vail Resorts still produced USD 278.1 million from ski school, USD 222.5 million from dining and USD 282.8 million from retail and rental in fiscal 2026 [1]. Pass partnerships open new source markets. The Ikon Pass now covers 14 Asian destinations for winter 26/27 after adding Madarao in Japan and two resorts in China [12], and Nippon Parking Development's ski segment grew revenue 8.9% to JPY 10.0 billion in the nine months to April 2026 [19]. Online pricing can fill quiet days. Les Sybelles sells a Saturday day pass online for EUR 30.0 against a full price of EUR 60.5 [25]. Early bookings for winter 2026/27 at Compagnie des Alpes looked relatively favourable in October 2026 [4]. Each channel adds revenue to lifts that are already running.

Mountain and Ski Resorts Market by Country (2026 to 2036)

Table 5: Mountain and Ski Resorts Market Country Growth Forecast

Country	CAGR, 2026 to 2036
Japan	12.4%
Canada	11.1%
United States	10.6%
Switzerland	10.5%
France	10.4%
Austria	10.2%

Japan

Inbound travellers are changing the economics of Japanese ski resorts faster than domestic skiers. Japan received 42.7 million foreign visitors in 2025, a rise of 15.8% [17]. Arrivals from the United States rose 21.4% to 3.3 million and arrivals from Australia rose 15.0% to 1.1 million [17]. Both markets ski, and both arrive in the December to March window when Hokkaido and Nagano have snow.

Resort operators are already seeing that shift at the lift. Nippon Parking Development counted a record 543 thousand inbound visitors across its eight ski resorts in winter 2025/26 [19]. That was a rise of 23.3% while total visitors stayed flat at 1.9 million [19]. Its ski segment revenue rose 8.9% to JPY 10.0 billion in the nine months to April 2026 [19]. Foreign guests pay full-price tickets and stay longer, so revenue grows even when domestic counts do not. That spending pattern carries Japan to a 12.4% CAGR between 2026 and 2036, the highest rate in the profiled group.

Pass networks are feeding that growth. Alterra added Madarao to the Ikon Pass for winter 26/27 alongside Niseko United, Furano and Zao Onsen [12]. Weather is the counterweight. Nagano Prefecture counted 6.1 million ski area users in 2025/26, down 0.1% [18]. The season had a low-snow start and early closures in its second half [18]. Operators answered with snowmaking and new lifts, including a completed gondola at Hakuba Iwatake [19]. Foreign guest nights across Japan rose 9.4% to 179.9 million in 2025 [20]. Resorts that add English-language ski school and premium lodging will capture the largest share of that spend.

Canada

Canadian resorts entered 2026 with lower margins and a new lift cycle. Statistics Canada reported that skiing facilities earned CAD 1.4 billion in 2024, down 4.4% from the 2023 record [21]. The operating profit margin fell from 15.3% to 11.0% as expenses rose 0.5% to CAD 1.3 billion [21]. British Columbia produced CAD 562.1 million of that revenue, followed by Quebec at CAD 394.6 million and Alberta at CAD 282.0 million [21].

Lift investment is the lever operators have chosen. Resorts of the Canadian Rockies announced four new Leitner Poma lifts on 11 May 2026 [23]. The Tamarack quad at Kimberley is scheduled to open in December 2026, and high-speed quads at Fernie and Kicking Horse are scheduled for winter 2027/28 [23]. Alterra is adding a high-speed chairlift at Tremblant's Timber Summit for 27/28 that raises hourly capacity by 10.0% [11]. These projects replace slow lifts that limited peak-day throughput.

Travel patterns are moving in the resorts' favour. US-resident trips to Canada rose 4.0% to 1.1 million in March 2026, the second monthly increase after twelve months of decline [22]. Canadian return trips from the United States fell 7.6% in the same month [22]. Residents who skip US trips ski closer to home, which adds domestic visits at western and Quebec resorts. Those two flows together point to an 11.1% CAGR for Canada over 2026 to 2036. Overseas arrivals also rose 9.3% in March 2026 [22]. Exchange rates and border policy can reverse these flows within a season, so operators should price passes for domestic demand first. New lifts will decide which resorts convert that demand into longer stays.

United States

The United States recorded its weakest western snow year in decades during 2025/26. NOAA reported record-low 1 April snowpack in eight western states including Colorado and Utah [13]. Colorado's peak snow water equivalent was 51.0% of the median and arrived on 9 March [13]. Western Water Assessment estimated national skier visits at 9.0% below the ten-year average [14].

Operators felt that in every revenue line. Vail Resorts' fiscal 2026 skier visits fell 13.4% to 15.3 million and net income fell to USD 147.5 million from USD 280.0 million [1]. Pass sales for 2026/27 were down about 12.0% in units through 18 September 2026 [1]. The company reads that as delayed purchases by less committed guests and still guides fiscal 2027 Resort Reported EBITDA at USD 805.0 million to USD 865.0 million [1]. Recovery from that low base is why the United States still carries a 10.6% CAGR across 2026 to 2036.

Capital spending more than visitor growth will shape the next decade. Alterra committed over USD 350.0 million for 26/27 [11]. Its new Hail Peak Express at Deer Valley opens 200 acres and seven runs [11]. Vail planned USD 229.0 million to USD 234.0 million of total investment for calendar 2026 and plans three Park City lift projects for 2027 [1]. Aspen Snowmass added a six-passenger Elk Camp lift and doubled capacity on its Cirque T-Bar for 2025-26 [26]. The Forest Service rule of March 2026 also eases year-round use of permit land [16]. Snowmaking will matter more than new terrain in the next few winters.

Switzerland

Swiss resorts are selling to a widening set of long-haul guests. Hotel nights in the 2025/26 winter season reached 18.7 million, with foreign demand at its highest level since 2007/08 [8]. Guests from the United States added 4.5% and guests from the Americas as a whole rose 5.5% to a record 1.8 million nights [8]. Graubünden's foreign nights rose 5.0% even though its total was flat [8].

Mountain railways show the two sides of that exposure. Zermatt Bergbahnen passed CHF 100.1 million in revenue for the first time in 2024/25, with winter first entries up 8.4% to 1.4 million and strong demand from the United States and Asia [10]. Jungfraubahn's ski visits fell 3.3% to 932,200 in winter 2025/26 [9]. Its Jungfraujoch visitors dropped 17.6% after Asian travel weakened [9]. Asian hotel nights fell 10.1% across Switzerland in the same winter [8].

Premium pricing and new lifts give Switzerland a 10.5% CAGR for the period 2026 to 2036. Leitner installed a six-seater Randolins chairlift at St. Moritz that lifts capacity from 1,500 to 2,400 people per hour, and an eight-seater from Riffelberg to Gifthittli at Zermatt [24]. Zermatt also replaced every turnstile with barrier-free smartphone access [10]. GeoSphere Austria reported the Southern Alps had their driest winter on record in 2025/26, with a late snow surplus in Valais and Graubünden [15]. Vail Resorts runs Andermatt-Sedrun and Crans-Montana and assumes a 1.21 franc exchange rate in its guidance [1]. A strong franc keeps the Swiss day expensive, so operators depend on guests who buy on quality.

France

France regained first place in world skier days in 2025/26. Domaines Skiables de France counted 56.1 million skier days, up 2.4% [2]. France had not held first place since winter 2014/15 [2]. January interholiday weeks rose 3.0% and the March interholiday period rose 20.0% on the prior winter [2]. Average revenue per skier day across all tickets was EUR 37.0 including tax, which places lift revenue near EUR 2.0 billion [25].

Operator results confirm the record. Compagnie des Alpes reported ski area and outdoor revenue of EUR 632.8 million for the year to 30 September 2026, up 6.5% [4]. Skier days reached 14.2 million against a previous record of 13.9 million, and revenue per skier day rose 3.5% [4]. The group now guides operating earnings growth of about 6.0% before the Tignes asset gains [4]. Val d'Isère and Tignes stayed open until 3 May 2026, which extended the selling season at high altitude [5].

Investment discipline sets the pace of French growth. Operators spent EUR 555.0 million in 2025, equal to 32.0% of revenue and 50.0% above the ten-year average [3]. Savoie alone absorbed EUR 230.3 million of that total [3]. Prices stay under public control because most operators hold a public service delegation and 71 of 104 alpine areas charge under EUR 50.0 a day [25]. Private operators earn an average result of 7.5% of revenue, which limits how much debt they can take on for new lifts [25]. Higher fuel prices from late February 2026 added cost in the final months of the season [4]. Resorts above 1,800 metres will attract most of the next decade's capital, and that spending sustains a 10.4% CAGR for France over 2026 to 2036.

Austria

Austrian cable cars opened their centenary winter with their best early season on record. The trade body counted about 54 million first entries in 2025/26, about 4.0% above the prior winter [6]. Entries ran 6.0% ahead through January before March fell 6.6% [6]. Early-season snowmaking secured 8.7 million overnight stays and EUR 1.2 billion of value added, and skiers accounted for 8.7 million of the 12.2 million nights sold in November and December 2025 [6].

Foreign demand carries the Austrian model. The winter season produced 74.2 million overnight stays, up 2.5% [7]. Foreign guests supplied 57.6 million of them [7]. Germany provided 26.5 million nights, about 46.0% of the foreign total [7]. The Netherlands added 7.0 million [7]. Tirol alone recorded 26.9 million nights and Salzburg 16.1 million [7]. A mature base of German and Dutch guests is why Austria grows at a 10.2% CAGR for 2026 to 2036, the lowest rate in the profiled group.

Warm winters are the test of that base. The winter half-year ran 1.1 degrees above the 1991 to 2020 average, and the Northern Alps had their second driest winter since 1991 [15]. April nights fell 5.9% as the season ended early [7]. Operators keep investing in lifts regardless. Dachstein West opened two new six-seater chairlifts for about EUR 22.0 million, and Hauser Kaibling added a ten-seater gondola [24]. Austrian guests spend about EUR 264.0 per ski day once lodging and transport are included [6]. Growth will come from spend per guest more than from new guests.

Who are the notable companies in the Mountain and Ski Resorts Market?

Vail Resorts and Alterra Mountain Company set the pace on passes while Compagnie des Alpes and Zermatt Bergbahnen show the Alpine operator model. Vail runs 37 North American resorts plus sites in Switzerland and Australia under the Epic Pass, and it reports pass revenue separately from window sales [1]. Alterra operates owned destinations and sells the Ikon Pass across 80 partner resorts in 13 countries [12]. Both companies now compete on network reach as much as on any single mountain.

Compagnie des Alpes is a listed operator of ski areas in the French Alps. Its ski area and outdoor division earned EUR 632.8 million in 2025/26 and added Pralognan-la-Vanoise from 1 November 2025 [4]. Zermatt Bergbahnen is a single-resort company that passed CHF 100.1 million in revenue in 2024/25 and earns almost a quarter of its transport income in summer [10]. Jungfraubahn Holding combines a ski region with the Jungfraujoch excursion railway, so its results move with Asian long-haul demand [9].

Smaller operators compete through lift quality and pass partnerships. Resorts of the Canadian Rockies is replacing lifts at three British Columbia resorts between 2026 and 2028 [23]. Nippon Parking Development runs eight Japanese ski resorts and is growing on inbound visitors [19]. Aspen One invested USD 80.0 million in Snowmass infrastructure for 2025-26 [26]. Buyers of resort assets should compare pass economics, snowmaking coverage and lift age before they judge any operator's revenue.

Key Developments in the Mountain and Ski Resorts Market

• Resorts of the Canadian Rockies announced on 11 May 2026 the purchase of four Leitner Poma lifts for Kimberley, Fernie and Kicking Horse. The Tamarack quad opens in December 2026 and the three high-speed quads open for winter 2027/28 [23].
• Alterra Mountain Company announced on 9 September 2026 a capital programme above USD 350.0 million for winter 26/27. It includes the Hail Peak Express at Deer Valley and new snowmaking at Solitude and Winter Park [11].
• Vail Resorts announced on 28 September 2026 three lift projects at Park City Mountain for calendar 2027. The plan is led by the replacement of Silverlode with the first eight-passenger detachable chairlift in the United States [1].

Key Players in the Mountain and Ski Resorts Market

• Vail Resorts, Inc.
• Alterra Mountain Company
• Boyne Resorts
• POWDR
• Aspen One (Aspen Snowmass)
• Compagnie des Alpes
• Zermatt Bergbahnen AG
• Jungfraubahn Holding AG
• Resorts of the Canadian Rockies Inc.
• Nippon Parking Development Co., Ltd. (Nippon Ski Resort Development)

Mountain and Ski Resorts Market Report Scope

Table 6: Mountain and Ski Resorts Market Report Scope

Coverage field	Report scope
Market definition	Revenue earned by operators of lift-served mountain and ski resorts from lift passes, season passes, lodging, ski school, dining, retail and rental, and summer activities. Ski equipment retail outside resorts and tour operator margins are excluded.
Pass Type	Multi-Mountain Subscription Passes; Single-Resort Season Passes; Multi-Day and Day Lift Tickets; Frequency and Limited-Day Passes
Resort Revenue Stream	Ski Lift Passes and Multi-Resort Season Passes; Lodging and Property; Ski School and Instruction; Dining and Retail or Rental; Summer and Multi-Season Activities
Visitor Origin	Domestic Alpine Travelers; International Long-Haul Travelers; Cross-Border Regional Travelers
Service Type	Skiing; Trekking; Rides; Sledding; Snowmobiling; Others
Booking Channel, Tour Type and Demography	Online Booking; In-Person Booking; Independent Traveler; Group Trip; Family Trip; Men; Women; Children; 15 to 25 Years; 26 to 35 Years; 36 to 45 Years; Over 45 Years
Regions covered	North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, Middle East and Africa
Profiled markets	Japan, Canada, United States, Switzerland, France, Austria
Companies covered	Vail Resorts, Inc.; Alterra Mountain Company; Boyne Resorts; POWDR; Aspen One; Compagnie des Alpes; Zermatt Bergbahnen AG; Jungfraubahn Holding AG; Resorts of the Canadian Rockies Inc.; Nippon Parking Development Co., Ltd.
Quantitative Units	USD billion

Source: Future Market Insights analysis of the mountain and ski resorts market, 2026.

Mountain and Ski Resorts Market Research Methodology

The mountain and ski resorts assessment draws on trade association attendance data and national tourism statistics as well as meteorological snow reports and operator disclosures [2][7][13][1]. FMI measures annual operator revenue from lift and season passes plus lodging, instruction, dining, retail and summer activities. Segment values are classified by pass type, resort revenue stream and visitor origin. Country forecasts reflect local attendance and pass pricing as well as snow reliability and lift investment over the same 2026 to 2036 period. Skier days and first entries are reviewed separately from overnight stays and revenue.

Mountain and Ski Resorts Market by Segments

Mountain and Ski Resorts Market segmented by Pass Type:

• Multi-Mountain Subscription Passes
• Single-Resort Season Passes
• Multi-Day and Day Lift Tickets
• Frequency and Limited-Day Passes

Mountain and Ski Resorts Market segmented by Resort Revenue Stream:

• Ski Lift Passes and Multi-Resort Season Passes
• Lodging and Property
• Ski School and Instruction
• Dining and Retail or Rental
• Summer and Multi-Season Activities

Mountain and Ski Resorts Market segmented by Visitor Origin:

• Domestic Alpine Travelers
• International Long-Haul Travelers
• Cross-Border Regional Travelers

Mountain and Ski Resorts Market segmented by Service Type:

• Skiing
• Trekking
• Rides
• Sledding
• Snowmobiling
• Others

Mountain and Ski Resorts Market segmented by Booking Channel:

• Online Booking
• In-Person Booking

Mountain and Ski Resorts Market segmented by Tour Type:

• Independent Traveler
• Group Trip
• Family Trip

Mountain and Ski Resorts Market segmented by Demography:

• Men
• Women
• Children

Mountain and Ski Resorts Market segmented by Age Group:

• 15 to 25 Years
• 26 to 35 Years
• 36 to 45 Years
• Over 45 Years

Mountain and Ski Resorts Market by Region

• North America
  • United States
  • Canada
  • Mexico
• Latin America
  • Brazil
  • Argentina
  • Chile
• Western Europe
  • France
  • Austria
  • Switzerland
  • Germany
  • Italy
  • Spain
  • United Kingdom
  • Netherlands
• Eastern Europe
  • Poland
  • Czech Republic
  • Bulgaria
• East Asia
  • Japan
  • China
  • South Korea
• South Asia and Pacific
  • India
  • Australia and New Zealand
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Türkiye

Research Sources and Bibliography

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• [2] Domaines Skiables de France. (2026, September 23). Bilan de la saison d'hiver 2025/26 : la France redevient première destination mondiale de ski.
• [3] Domaines Skiables de France. (2026, March 2). Les domaines skiables français ont investi 555 M€ en 2025 et confirment le rôle structurant de l'investissement pour les territoires de montagne. https://www.domaines-skiables.fr/presse/les-domaines-skiables-francais-ont-investi-555-m-en-2025-et-confirment-le-role-structurant-de-linvestissement-pour-les-territoires-de-montagne/
• [4] Compagnie des Alpes. (2026, October 27). Chiffre d'affaires de l'exercice 2025-2026. https://news.compagniedesalpes.com/chiffre-affaires-2025-2026/
• [5] Compagnie des Alpes. (2026, April 28). Chiffre d'affaires du premier semestre 2025-2026. https://www.compagniedesalpes.com/sites/default/files/documents/2026-04/CDA%20-%20CP%20CA%20T2%202025%202026%20-%20V%20def%2016h00.pdf
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• [7] Statistik Austria. (2026, May 29). Starke Wintersaison 2025/26 mit mehr als 74 Mio. Nächtigungen. Press release 080/26.
• [8] Federal Statistical Office (BFS), Switzerland. (2026, June 8). In der Wintersaison 2025/26 bleibt die Anzahl Logiernächte in der Schweizer Hotellerie hoch. Swiss Federal Administration.
• [9] Jungfraubahn Holding AG. (2026, August 28). Ad hoc announcement pursuant to Art. 53 LR: Jungfrau Railway Group, a challenging half year ends with profit of CHF 28.9 million. https://www.jungfrau.ch/en-gb/corporate/news/ad-hoc-announcement-pursuant-to-art-53-lr-jungfraubahn-railway-group-a-challenging-half-year-ends-with-profit-of-chf-289-million/
• [10] Zermatt Bergbahnen AG. (2025, September 25). Sales top CHF 100 million for the first time: a historic milestone for Zermatt Bergbahnen AG. https://www.matterhornparadise.ch/en/about/news/sales-top-chf-100-million-for-the-first-time-a-historic-milestone-for-zermatt-bergbahnen-ag_news_4603145
• [11] Alterra Mountain Company. (2026, September 9). Alterra Mountain Company invests over $350 million in capital for 26/27 across its family of destinations. https://www.alterramtn.co/en/news/alterra-mountain-company-invests-350-million-in-capital-for-2627-across-its-family-of-destinations
• [12] Alterra Mountain Company. (2026, September 10). Ikon Pass expands further into Japan and China for winter 26/27. https://www.alterramtn.co/en/news/ikon-pass-expands-further-into-japan-and-china-for-winter-2627
• [13] National Integrated Drought Information System, NOAA. (2026, April 9). Snow Drought Current Conditions and Impacts in the West. https://www.drought.gov/index%2Ephp/drought-status-updates/snow-drought-current-conditions-and-impacts-west-2026-04-09
• [14] Western Water Assessment, University of Colorado Boulder. (2026, May 14). Rapid Assessment of Extreme Snow Drought in the Intermountain West. https://wwa.colorado.edu/sites/default/files/2026-05/2025-2026_Extreme_Snow_Drought_in_the_Intermountain_West_FINAL_5.14.2026.pdf
• [15] GeoSphere Austria. (2026, June 3). Alpine climate review of the 2025-26 winter half-year. https://geosphere.at/en/news-and-events/news/alpine-climate-review-of-the-2025-26-winter-half-year
• [16] U.S. Department of Agriculture, Forest Service. (2026, March 25). Definition of a Ski Area: Final rule, 36 CFR Part 251. Federal Register Doc. 2026-05767. https://public-inspection.federalregister.gov/2026-05767.pdf
• [17] Japan National Tourism Organization. (2026, January 21). Visitor arrivals to Japan, December 2025 and full year 2025. https://www.jnto.go.jp/news/_files/20260121_1615.pdf
• [18] Nagano Prefecture. (2026, August 3). https://www.pref.nagano.lg.jp/kankoki/sangyo/kanko/toukei/documents/r7-8skiskate.pdf
• [19] Nippon Parking Development Co., Ltd. (2026, June 5). Fiscal year ending July 2026, third quarter results presentation. https://n-p-d.co.jp/wp-content/uploads/2026/06/IR_2026_3Q_v4.0.pdf
• [20] Japan Tourism Agency, Ministry of Land, Infrastructure, Transport and Tourism. (2026, July 6). Overnight Travel Statistics Survey, 2025 annual final values. https://www.mlit.go.jp/kankocho/news02_00090.html
• [21] Statistics Canada. (2026, February 17). Downhill skiing hit a rough patch in the winter of 2024. StatCan Plus. https://www.statcan.gc.ca/o1/en/plus/8961-downhill-skiing-hit-rough-patch-winter-2024
• [22] Statistics Canada. (2026, April 13). Leading indicator of international arrivals to Canada, March 2026. The Daily. https://www150.statcan.gc.ca/n1/daily-quotidien/260413/dq260413c-eng.pdf
• [23] Resorts of the Canadian Rockies Inc. (2026, May 11). Announcing the purchase of four new lifts for Resorts of the Canadian Rockies' B.C. resorts. Kicking Horse Mountain Resort. https://kickinghorseresort.com/blog/announcing-the-purchase-of-four-4-new-lifts-for-resorts-of-the-canadian-rockies-bc-resorts/
• [24] LEITNER. (2026, January 16). Kicking off a new season packed with efficiency: ski resorts in the DACH region have invested in smart ropeway technology. https://www.leitner.com/fileadmin//userdaten/06-presse/Texte/2026/260116_DACH_Anlagen/LEITNER_Press_release_DACH__EN.pdf
• [25] Domaines Skiables de France. (2026, October 28). De 13 à 84 euros la journée : pourquoi le forfait de ski n'a pas le même prix partout. https://www.domaines-skiables.fr/presse/prix-forfait-ski-difference-stations/
• [26] Aspen Snowmass. (2026). Recent improvements, accessed 3 November 2026. https://www.aspensnowmass.com/discover/recent-improvements
• [27] Wirtschaftskammer Österreich, Fachverband der Seilbahnen. (2026, June 12). FV Seilbahnen: Motor für Wertschöpfung. https://www.wko.at/oe/oesterreich/fv-seilbahnen-motor-fuer-wertschoepfung