People quite rightly want to forget the global pandemic that turned the world upside down between 2020 and 2023, but its effects will long be felt. Alpine and North American resorts both witnessed stratospheric price growth during this period, which only began to temper in 2023. The first half of 2024 followed a similar pattern – less demand on account of strong pricing, persistently high interest rates and continued global uncertainty. Or, given what we have witnessed in recent years, conditions that could reasonably be described as ’normality’.

The second half of 2024 has, however, yielded a softening of interest rates on both sides of the Atlantic. It should be of no surprise, therefore, that asking prices across the prime resorts surveyed, while they declined by an average of 4% in 2023, increased on average by 3.8% in 2024. Although the overall trend is up, there are many variations to this – for example, asking prices in Courchevel 1850 were up by 30%, but down in Vail by a similar amount.

Asking prices are not the only unpredictable finding from this year’s report. Mountain resort operators increasingly have to be prepared for unpredictable weather. Savills Ski Resilience Index, now in its sixth year, illustrates how the unpredictability of snowfall, temperatures and season length causes significant annual variations. This year, its long season and snowfall reliability helped Breuil-Cervinia to edge Aspen off the top spot. Another high climber is Val Thorens, rising an impressive ten places to third, on account of a long season and higher-than-average snowfall.

Whatever the altitude, season length or average temperature, all ski resorts are striving for sustainability. This not only means boosting their eco credentials (such as solar panels on the roofs of ski lifts), but also investing for a sustainable and resilient future. With an increasing number of resorts becoming genuine year-round communities and attracting a higher number of permanent residents, more diverse facilities, such as international schools and wellness/medical retreats, are emerging.

We hope that you enjoy this 19th edition of our annual ski report. Our researchers report that meteorologists are forecasting a La Niña winter which typically brings colder temperatures. We are holding them to their word.

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