What caught my eye:
" . . .
. . . This past season, approximately 72% of all Vail Resorts 2021/2022 North American skier visitation was on a pass product, excluding employee and complimentary visitation, which compares to approximately 60% and approximately 51% for the 2018/2019 and 2014/2015 North American ski seasons, respectively. . . .
. . ."
Were 2018-19 and 2014-15 good snow years in the Rockies? The Peak acquisition was completed in July 2019. The first three midwest areas/resorts (Detroit, Chicago, Minn/St. Paul markets) were bought in 2012.