XML 21 R9.htm IDEA: XBRL DOCUMENT v3.25.1
Revenue (Notes)
 9 Months Ended
Apr. 30, 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 nine months ended April 30, 2025 and 2024 (in thousands):
Three Months Ended April 30,Nine Months Ended April 30,
2025202420252024
Mountain net revenue:
Lift$770,259 $745,677 $1,455,600 $1,394,526 
Ski School160,243 161,248 300,091 295,055 
Dining110,972 109,471 222,507 209,608 
Retail/Rental113,678 123,262 278,363 292,892 
Other57,397 56,400 192,378 176,413 
Total Mountain net revenue$1,212,549 $1,196,058 $2,448,939 $2,368,494 
Lodging net revenue:
Owned hotel rooms$15,104 $14,978 $56,618 $53,738 
Managed condominium rooms32,634 35,390 71,413 75,701 
Dining14,870 14,482 48,576 46,174 
Transportation6,743 7,150 13,784 15,060 
Golf— — 8,131 6,541 
Other9,308 10,230 34,109 36,700 
78,659 82,230 232,631 233,914 
Payroll cost reimbursements4,235 4,825 11,139 12,779 
Total Lodging net revenue$82,894 $87,055 $243,770 $246,693 
Total Resort net revenue$1,295,443 $1,283,113 $2,692,709 $2,615,187 
Total Real Estate net revenue115 169 349 4,618 
Total net revenue$1,295,558 $1,283,282 $2,693,058 $2,619,805 

Contract Balances
Deferred revenue balances of a short-term nature were $468.6 million and $575.8 million as of April 30, 2025 and July 31, 2024, respectively. For the three and nine months ended April 30, 2025, the Company recognized approximately $239.8 million and $543.9 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 $101.2 million, $104.9 million and $106.7 million as of April 30, 2025, July 31, 2024 and April 30, 2024, respectively. As of April 30, 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 $4.0 million, $5.2 million and $2.3 million as of April 30, 2025, July 31, 2024 and April 30, 2024, respectively. The amounts capitalized are subject to amortization commensurate with the recognition of revenue for related pass
products.