{"id":9539,"date":"2016-11-03T22:03:54","date_gmt":"2016-11-04T02:03:54","guid":{"rendered":"https:\/\/digital.hbs.edu\/platform-rctom\/submission\/you-cant-ski-without-snow\/"},"modified":"2016-11-03T23:22:49","modified_gmt":"2016-11-04T03:22:49","slug":"you-cant-ski-without-snow","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-rctom\/submission\/you-cant-ski-without-snow\/","title":{"rendered":"You Can\u2019t Ski Without Snow"},"content":{"rendered":"

A sport we all know and love during winter break and weekend getaways, skiing, is facing significant pressure from climate change. Since 1970, average winter temperatures in the U.S. have increased by 2.2 degrees Fahrenheit, resulting in proportionate decreases in snow fall[1]<\/a>. Decreases in snow fall negatively effects the $12.2 billion U.S. snow sport industry that employs hundreds of thousands of people[2]<\/a> and generates over $3 billion in local, state and federal tax revenue[3]<\/a>. Ski sites have already declined 36% in the past three decades (i.e., down from 735 in 1984 to approximately 470 today) [4]<\/a>, and in a scenario in which greenhouse gas emissions continue to increase, it is estimated that only four out of 14 major Northeastern U.S. ski resorts will remain profitable by 2100[5]<\/a>.<\/p>\n

What does this mean for resorts today? Ski resorts across the country, including Peak Resorts, owner and operator of 14 resorts primarily in the Northeast and Midwest, are struggling to maintain organic growth. At Peak Resorts, particularly exposed to global warming given the lower average altitude of its resort portfolio[6]<\/a>, revenue has declined 5% per year over the past three years[7]<\/a>. And while Peak Resorts primarily consists of regional day\/overnight resorts, there are larger destination resorts (e.g., Vail and Intrawest) situated in towns whose entire economies are dependent on snow fall. In such towns, during periods of warmer weather, airlines experience lower traffic, and restaurants, pubs, gas stations and stores experience fewer sales. The employees of these businesses earn less for their families and spend less, creating downward economic pressure. As a data point, the University of Maryland estimated that the state of Colorado alone would lose $375 million in revenue and 4,500 jobs by 2017 from to skier attrition due to lack of snow[8]<\/a>.<\/p>\n

To combat the negative effects of climate change and hopefully reverse its negative revenue trend, Peak Resorts has undertaken multiple efforts[9]<\/a>, including:<\/p>\n