受强冷空气影响，8月底，新疆部分地区已经下起了初雪，位于阿勒泰地区的吉克普林国际滑雪度假区覆上一层薄薄的白雪。银装素裹的景象，一下子将 人们的记忆拉回到纵情驰骋的滑雪场当中，提醒雪友们是时候展望这雪季了。事实也的确如此，在网上，已经有人发起相约雪季的召唤了。 不过，新的雪季全面到来还需要再等待一小段时间。在这个等待的关口，不妨让我回顾一下上一个雪季（2024-25雪季）的整体市场表现和数据情况。 近期发布的《2024-2025中国滑雪产业白皮书》（简称《白皮书》）显示，上一雪季全国滑雪人次突破2605万，同比增长12.9%，创下历史新高；人均滑雪 次数也由1.80次提升至1.92次，超过冬奥会前2020-2021雪季的历史峰值1.91次；室内滑雪场新增6家，延续全球领跑态势，但全国雪场总量从935家下降到 914家。 从 2024-2025 雪季财年的各项数据来看，和上年反映出的结论基本一致，主要有这两点：室内滑雪场全面爆发，势不可挡，成为中国特色的滑雪市场主 体；室外滑雪场市场集中度进一步提升，目的地滑雪度假村增速喜人，尤其以吉林省内的三万一湖四家大型目的地滑雪度假区以及新疆阿勒泰泰旅集团三 大滑雪场为代表 ...

Core Insights - Vail Resorts reported $1.3 billion in revenue for the quarter ended April 2025, marking a year-over-year increase of 1% and an EPS of $10.54, up from $9.54 a year ago, with a slight revenue surprise of -0.55% against estimates [1] - The company’s stock has returned +10.6% over the past month, outperforming the Zacks S&P 500 composite's +5.2% change, and currently holds a Zacks Rank 3 (Hold) [3] Revenue and Earnings Performance - Total skier visits reached 8.61 thousand, slightly above the estimated 8.6 thousand [4] - Managed condominium RevPAR was reported at $206.66, below the estimated $214.69 [4] - Owned hotel RevPAR was $165.54, compared to the average estimate of $170.86 [4] - Mountain net revenue was $1.21 billion, slightly below the $1.22 billion estimate, but represents a +1.4% year-over-year change [4] - Lodging net revenue was $82.89 million, below the estimated $89.11 million, reflecting a -4.8% change year-over-year [4] - Real estate revenue was $0.12 million, significantly below the $1.05 million estimate, indicating a -32% year-over-year change [4] Additional Metrics - Mountain net revenue from retail/rental was $113.68 million, below the $119.17 million estimate, showing a -7.8% year-over-year change [4] - Dining revenue was reported at $110.97 million, slightly above the $110.73 million estimate, with a +1.4% year-over-year change [4] - Managed condominium rooms revenue was $32.63 million, below the average estimate of $35.12 million, reflecting a -7.8% year-over-year change [4]