Climate change is taking a toll on the $20 billion winter sports industry — and swanky ski homes could lose value

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Climate change is taking a toll on the $20 billion winter sports industry — and swanky ski homes could lose value.

, the largest player in the U.S. ski field, reported better-than-expected quarterly earnings in its latest report but had to lower its full-year guidance because of a weak start to the season. The company's CEO, Robert Katz, attributed that "to guest concerns after two prior years of poor pre-holiday conditions."

"We do hear from shareholders quite a bit about this weather variability," said Katz. "If I'm going to invest in Vail Resorts, how do I know that you can consistently drive results, even though you are subject to the weather, the snowfall, the temperatures? And we have, over the last 10 years, really made a point of showcasing to our investors that we are not only doing the right thing for the environment, but we are also changing our business model.

The company is also buying more properties, recently in Vermont and Australia, a geographical weather hedge. By diversifying the properties, Katz aims to protect against weather variability place to place. That also means investing in new options that turn the winter wonderland into a summer playground — like zip lines and mountain coasters for summer tourists. It appears to be working. Summer tax revenue for 2016 was 34 percent higher in Vail than four years before, according to the town of Vail.These strategies may add to the resort's bottom line, but residential real estate in mountain villages is far more dependent on snow.

 

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& your SKI homes won’t be around when our earth is a boiling fucking egg

Well we found the one positive to the climate apocalypse I guess.

Buy signal for swanky ski homes

The Earth is in a cooling cycle people.

Wth are you talking about? The West coast had record breaking snow fall this year.

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