XML 24 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
Revenue (Notes)
6 Months Ended
Jan. 31, 2025
Revenue [Abstract]  
Revenue from Contract with Customer [Text Block]
Disaggregation of Revenues
The following table presents net revenues disaggregated by segment and major revenue type for the three and six months ended January 31, 2025 and 2024 (in thousands):
Three Months Ended January 31,Six Months Ended January 31,
2025202420252024
Mountain net revenue:
Lift$644,918 $603,459 $685,341 $648,849 
Ski School133,009 126,629 139,848 133,807 
Dining90,907 82,060 111,535 100,137 
Retail/Rental135,159 136,156 164,685 169,630 
Other59,101 51,677 134,981 120,013 
Total Mountain net revenue$1,063,094 $999,981 $1,236,390 $1,172,436 
Lodging net revenue:
Owned hotel rooms$13,439 $13,583 $41,514 $38,760 
Managed condominium rooms27,074 28,308 38,779 40,311 
Dining13,754 13,609 33,706 31,692 
Transportation5,507 6,405 7,041 7,910 
Golf— — 7,801 6,471 
Other10,415 11,417 25,131 26,540 
70,189 73,322 153,972 151,684 
Payroll cost reimbursements3,771 4,495 6,904 7,954 
Total Lodging net revenue$73,960 $77,817 $160,876 $159,638 
Total Resort net revenue$1,137,054 $1,077,798 $1,397,266 $1,332,074 
Total Real Estate net revenue171 160 234 4,449 
Total net revenue$1,137,225 $1,077,958 $1,397,500 $1,336,523 

Contract Balances
Deferred revenue balances of a short-term nature were $688.4 million and $575.8 million as of January 31, 2025 and July 31, 2024, respectively. For the three and six months ended January 31, 2025, the Company recognized approximately $253.9 million and $304.1 million, respectively, of revenue that was included in the deferred revenue balance as of July 31, 2024. Deferred revenue balances of a long-term nature, comprised primarily of long-term private club initiation fee revenue, were $103.1 million, $104.9 million and $108.3 million as of January 31, 2025, July 31, 2024 and January 31, 2024, respectively. As of January 31, 2025, the weighted average remaining period over which revenue for unsatisfied performance obligations on long-term private club contracts will be recognized was approximately 14 years.
Costs to Obtain Contracts with Customers
Costs to obtain contracts with customers are recorded within other current assets on the Company’s Consolidated Condensed Balance Sheets, and were $14.3 million, $5.2 million and $14.4 million as of January 31, 2025, July 31, 2024 and January 31, 2024, respectively. The amounts capitalized are subject to amortization generally beginning in the second quarter of each fiscal
year, commensurate with the recognition of revenue for related pass products.