Past performance to date has been driven by softer demand following the challenging conditions this season, evident in the fact that the weakness has been most pronounced in our more weather-impacted destination markets, including Colorado, Utah, and Lake Tahoe, as well as among destination guests who typically travel to the Rockies, which all saw low double-digit unit declines.

Jun 8, 2026 / receipt, needs a key / Angela Korch, CFO | earnings call 2026-06-08 | transcript d5c54f60-a262-4aed-9bc3-13b7eba056f0 | chars 15245-15626 | segment 14

And then historically, can you just remind us, what do you typically see when gas and flight costs are higher? What sort of impact do you see to visitation behavior across the local and destination cohorts during the season?

Jun 8, 2026 / receipt, needs a key / Jeff Sanchel, other | earnings call 2026-06-08 | transcript d5c54f60-a262-4aed-9bc3-13b7eba056f0 | chars 37307-37531 | segment 36

I think, you know, when you look back historically, you know, obviously, you know, the further you travel, the harder. So a lot of times you do see people, if they have an issue with the, you know, plane costs, you know, they may drive. So we may see more, you know, and stronger local visitation. At the same time, a lot of people won't go and, you know, fly internationally to the extent that the cost of those flights are even higher.

Jun 8, 2026 / receipt, needs a key / Rob, CFO | earnings call 2026-06-08 | transcript d5c54f60-a262-4aed-9bc3-13b7eba056f0 | chars 37941-38378 | segment 37

Hi, everyone. Thanks for taking my questions. I wanted to ask about Europe and sort of how you're progressing there, what kind of traffic you're seeing. You know, what are you, if any, seeing from, you know, the U.S. obviously become somewhat of a trend as a cost matter with people traveling to Europe. Just some insight there would help, please.

Mar 10, 2025 / receipt, needs a key / David Katz, analyst | earnings call 2025-03-10 | transcript da1ee953-65bb-4dc7-8944-7ef6b8084252 | chars 44785-45132 | segment 46

I would say for the travel from the U.S., right, that has not been the primary part of this thesis, right? It is a network benefit that we have to give our epic pass holders access to Switzerland, which is incredible. But what we're seeing really, right, is the market itself is very much a market that attracts destination visitation within the Alps and within Europe and from outside of Europe. And so that's really where the growth opportunity that we see long term within that market.

Mar 10, 2025 / receipt, needs a key / Kirsten Lynch, CEO | earnings call 2025-03-10 | transcript da1ee953-65bb-4dc7-8944-7ef6b8084252 | chars 45570-46058 | segment 46

And I think what you saw for this year is you did see a lot of the resort markets actually not fill in as expected as you went through with the season for both the same factors that we're talking about in terms of some of this normalization and I think travel behavior, but also from the conditions likely impacting the lodging fill-in, if you will, from there as well. And for the resort communities, we saw really occupancy declines around four points for the winter season.

Jun 6, 2024 / receipt, needs a key / Kirsten Lynch, CEO | earnings call 2024-06-06 | transcript cec38e2d-cfc8-4327-9a1d-c5516d735812 | chars 44440-44916 | segment 45

So on the COVID normalization comments, Kirsten, and apologies if you already touched on this, but I'm assuming that obviously included sort of a comment on total travel demand, which you definitely alluded to, but does that also include a shift of consumer behavior back to peak travel periods, i.e. weekends and holidays? That was something that was a nice tailwind for you early in COVID. Is that something that it could be a Is it already a headwind? Is it something that could be an additional headwind creating more load pressure on your business operations?

Jun 6, 2024 / receipt, needs a key / Brant Montour, analyst | earnings call 2024-06-06 | transcript cec38e2d-cfc8-4327-9a1d-c5516d735812 | chars 46555-47119 | segment 47

You've heard a lot of travel and leisure companies talking about seeing signs of normalization, and some of them overtly saying off of a peak from last year as a headwind to them. And when I look at the ski industry, you know, the ski industry had peak visitation last year, and when we look at the behavior this past season, laughing that, even when conditions were outstanding, it does, we do believe that the past season, the down 8%, our down 8%, that's consistent with that, but the ski industry, you know, those numbers look, for this past year, look more in line with what you would considered to be more normalized trend, I would say.

Jun 6, 2024 / receipt, needs a key / Kirsten Lynch, CEO | earnings call 2024-06-06 | transcript cec38e2d-cfc8-4327-9a1d-c5516d735812 | chars 47825-48467 | segment 48

Revenues from such properties represented approximately 95% and 96% of Lodging segment net revenue (excluding Lodging segment revenue associated with the reimbursement of payroll costs) for the three months ended April 30, 2026 and 2025, respectively, and 75% and 77% of our Lodging segment revenue (excluding Lodging segment revenue associated with reimbursement of payroll costs) for the nine months ended April 30, 20

filing / Jun 8, 2026 / receipt

Other revenue also includes Australian resort lodging and transportation revenue. Other revenue decreased $4.8 million, or 2.5%, primarily driven by decreased skier visitation at our North American resorts, which resulted in decreased demand for ancillary services, partially offset by a $1.9 million increase in other on-mountain summer activities and sightseeing revenue from the impact of increased pricing at our Nor

filing / Jun 8, 2026 / receipt

Operating expense decreased $27.2 million, or 4.7%, which was primarily attributable to (i) cost savings attributable to the Company’s resource efficiency transformation initiatives; (ii) reduced labor hours at our North American Resorts driven by decreased visitation compared to the prior year as a result of challenging weather conditions from record low snowfall and historically warm temperatures across the western

filing / Jun 8, 2026 / receipt

Labor and labor-related benefits decreased $18.0 million, or 7.0%, primarily due to a decrease in labor expense to support North American operations due to challenging weather conditions, cost savings attributable to the Company’s resource efficiency transformation initiatives and lower than expected variable compensation accruals ($5.2 million) compared to the prior year.

filing / Jun 8, 2026 / receipt

Revenues from such properties represented approximately 94% of Lodging segment net revenue (excluding Lodging segment revenue associated with the reimbursement of payroll costs) for the three months ended January 31, 2026 and 2025.

filing / Mar 9, 2026 / receipt

Other revenue also includes Australian resort lodging and transportation revenue. Other revenue decreased $2.7 million, or 2.0%, primarily driven by decreased skier visitation at our North American resorts, which resulted in decreased demand for ancillary services, partially offset by a $1.9 million increase in other on-mountain summer activities and sightseeing revenue from the impact of increased pricing at our Nor

filing / Mar 9, 2026 / receipt

Labor and labor related benefits decreased $1.4 million, or 4.4%, primarily due to strong cost control in response to decreased revenue.

filing / Mar 9, 2026 / receipt

Labor and labor related benefits decreased $2.0 million, or 2.8%, primarily due to strong cost control in response to decreased revenue.

filing / Mar 9, 2026 / receipt