An inflection point for the US ski industry?

Many of you may have seen this post by Laurant Nanat on LinkedIn, but I thought it was worth sharing with Steep Newsletter readers.

Recent developments at Vail Resorts and Alterra Mountain Company have raised some interesting questions about the future of the US ski industry. Declining Epic Pass sales, corporate restructuring, shareholder activism, and legal challenges surrounding the mega-pass model suggest that something may be changing. Are these merely company-specific difficulties, amplified by a poor 2025/26 winter season, or could they signal a more fundamental shift in the industry's business model? Here is the LinkedIn link: https://www.linkedin.com/pulse/inflection-point-us-ski-industry-laurent-vanat-qhcae/. Food for thought.