Mountain and Ski Resorts Market Report 2024

This Mountain and Ski Resorts market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The mountain and ski resorts market size has grown rapidly in recent years. It will grow from $13.24 billion in 2023 to $14.74 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth during the historic period can be attributed to factors such as rising disposable income, advancements in transportation infrastructure, the growing popularity of winter sports, expansion in the tourism industry, and a rise in domestic travel.

The mountain and ski resorts market size is expected to see rapid growth in the next few years. It will grow to $22.71 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth during the forecast period can be attributed to factors such as adaptation to climate change, increasing health and wellness trends, personalized customer experiences, rising foreign tourism, and a focus on sustainability. Key trends in this period include the adoption of artificial intelligence, the growth of adventure tourism, virtual reality experiences, the expansion of non-ski activities, and improved safety measures.

The growing popularity of winter sports is expected to drive the growth of the mountain and ski resorts market in the future. Winter sports include recreational activities performed on snow or ice, such as skiing, snowboarding, and ice skating, which are prevalent in mountain and ski resort areas. This rising interest in winter sports is supported by advancements in equipment, better access to ski resorts, and increased awareness of the health benefits associated with these activities. Mountain and ski resorts enhance winter sports by offering specialized facilities, equipment, and conditions for activities such as skiing, snowboarding, and snowshoeing. For example, in December 2023, the Canadian Ski Council, a national organization for the ski and snowboard industry in Canada, reported 21.069 million skier visits (excluding Nordic and Heli), with domestic visits rising to 19.17 million from 18.6 million in the 2021-22 season, and international visits totaling 1.8 million for the 2022-23 season. Consequently, the increasing popularity of winter sports is driving the growth of the mountain and ski resorts market.

Major companies in the mountain and ski resorts market are concentrating on developing innovative artificial intelligence (AI)-integrated features to maintain their competitive edge. AI-integrated features involve utilizing advanced AI technologies to improve various aspects of the skiing experience, resort operations, and safety measures. For example, in March 2024, Vail Resorts Inc., a US-based mountain resort company, introduced My Epic Assistant within the My Epic app. This feature offers 24/7 access to real-time information on snow conditions, dining options, rentals, and ski school schedules. It incorporates the latest AI advancements and expert insights to enhance guest services, with plans for proactive, personalized recommendations and ongoing booking support. This innovation is designed to provide efficient, real-time assistance to guests, lower operational costs, and highlight Vail Resorts' dedication to technological advancement and AI integration in the mountain and ski resorts sector.

In May 2024, Vail Resorts Inc., a US-based mountain resort company, acquired Crans-Montana Mountain Resort for $0.12 billion. This acquisition grants Vail Resorts complete control over ski operations and restaurants, along with significant investment plans and integration into the Epic Pass. This move aims to boost its market presence and enhance the guest experience while expanding into the European ski market. Crans-Montana Mountain Resort, based in Switzerland, provides skiing facilities as well as lodging and dining options.

Major companies operating in the mountain and ski resorts market are Alterra Mountain Company, Vail Resorts, Mammoth Mountain, Park City Mountain Resort, Snowbird Ski Resort, Whistler Blackcomb, Jackson Hole Mountain Resort, Big Sky Resort, Aspen Skiing Company, Stowe Mountain Resort, Telluride Ski Resort, Breckenridge Ski Resort, The Vintage Gulmarg, Valle Nevado, Deer Valley Resort, Sun Valley Resort, Solang Valley Resort, The Himalayan, The Khyber Himalayan Resort and Spa, Killington Resort, Arapahoe Basin.

North America was the largest region in the mountain and ski resort market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mountain and ski resorts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the mountain and ski resorts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Mountain and ski resorts are recreational destinations situated in mountainous areas, providing facilities and services for skiing, snowboarding, and other outdoor activities, as well as accommodations and amenities for guests. They cater to winter sports enthusiasts, outdoor recreation, relaxation, lodging, dining, and hosting events such as weddings and corporate retreats.

Mountain and ski resorts offer a range of services including skiing, trekking, rides, sledding, snowmobiling, and other activities. Skiing is a winter sport where participants glide over snow using long, narrow boards known as skis, which are attached to the feet. It encompasses various techniques and disciplines such as downhill, cross-country, and freestyle skiing, and takes place on specially designed snow-covered slopes or trails. These resorts cater to different age groups - under 15 years, 16 to 25, 26 to 35, 36 to 45, 46 to 55, and above 55 - with services tailored for men, women, and children. Booking options are available both online and in person, accommodating both domestic and international visitors.

The mountain and ski resorts market research report is one of a series of new reports that provides mountain and ski resorts market statistics, including mountain and ski resorts industry global market size, regional shares, competitors with a mountain and ski resorts market share, detailed mountain and ski resorts market segments, market trends and opportunities, and any further data you may need to thrive in the mountain and ski resorts industry. This mountain and ski resorts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The mountain and ski resorts market includes revenues earned by entities by providing services such as ski lessons and rentals, spa and wellness services, luxury lodging, dining and gourmet experiences, guided nature tours, and après-ski entertainment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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