What is likely to keep VR in business is not just Epic. That's been around since 2008. What changed around 2012 was the ability to build revenue generating activities for the "green season" like ziplines and alpine slides on U.S. Forest Land out west.
What you don't hear much in online ski forums are comments from busy parents who take their kids skiing. Either as a ski vacation once a year or to a local hill or big mountain. Those are the people I've seen in the lodges and on the slopes while on skiing on weekends both in the northeast or out west in recent years. Even members of ski forums who become parents tend to post much less. Just saw a post from a long-time member on another forum who was AWOL for almost a decade. The family kept skiing though.
Pre-Covid, the ski resorts in the southeast were staying pretty busy in the last decade. Took a year or so to recover from the 2008 recession. Only the places that invested heavily in snowmaking upgrades in the past 20-30 years survived past the 1980s. In recent years, day tickets were running $50-80 on weekends. Most weekend folks buy day tickets and get to the slopes at most two weekends a season. Remember that's for places with under 100 acres, lift rides that are 7-8 min and short runs that take an advanced skier/rider 2 min to finish. They also have invested heavily in green season revenue-producing activities, in particular mountain biking in the last decade or so. A few have had a golf course or two as part of the resort from the start.
I've started re-reading Chris Diamond's Ski Inc 2020. Will keep an eye out for any mention of how much people spend at destination resorts.
Even win smith, owner of sugarbush, on a storm skier podcast stated that younger people are beginning to discover skiing, when ever I visit Mt snow, okemo on the weekend I am amazed at the number of young families skiing, if it is dying you don’t see it at Mt snow/okemo, wachusetts ski area mid week afternoons based upon their web cams are loaded with kids. Saw a picture of the lodge at crotched ski area this winter, lodge was packed, nobody in the picture over 45, 75 percent of the people looked younger than 15. Last year 59 million skier visits, this year without a shutdown the numbers would have hit 61 million, epic vs ikon really has only been around for 2 winters. Never heard of the epic pass till they bought Stowe, never considered it till they bought okemo. When I first heard of the max pass, thought it was too good to be true, figured the truth was in the fine print. But it’s just not the big boys selling big numbers of season passes other resorts are saying they never sold as many season passes, places such as mad river glen, Magic Mtn, Berkshire East/catamount theirs others but I can’t remember which ones.
I think Chris diamond is correct, skiing is in a renaissance, what started it, who knows, maybe the epic/ ikon pass, maybe better snowmaking, maybe mikaela shiffrin, maybe better equipment, none of the above, all of the above, some of the above, but something is going on.