News of the Epic Local Pass now available for $583 (down from $729 last season), and the full Epic Pass priced at $783 (down from $979 last season) sent shares of Vail down more than 8% in premarket. 

Vail said, "this reset takes these products back to prices last seen during the 2015/16 season." 

The price reduction applies to Vail's entire North American ski resorts portfolio for the 2021/22 winter season. 

"The ski industry, our company and skiers and riders everywhere just navigated the most challenging season we have ever encountered. Because of the growth and loyalty of our pass holders, we were able to ensure this season was a success, with full operations across our 34 North American resorts, even amid a pandemic," said Rob Katz, chairman and chief executive officer of Vail Resorts.