Earlier this month a lawsuit brought by more than 20 lifetime passholders filed against Vail Resorts was settled. It appeared to be a net loss for the passholders, who previously had sold the use of the passes to the tune of thousands of dollars a year. See Vail Sued Over Lifetime Passes
Now, the passholders may neither rent nor lease their transferable passes for cash, but the passes may be sold or used as gifts in connection with business. They may also be used as prizes or awards if Vail Resorts provides written authorization, according to the terms filed with Summit County Combined Courts. The settlement was reached while the seven-member jury was deliberating a verdict.
The passes exist because of a perk offered in 1969 to the first folks who invested in Keystone Ski Resort. Each of 33 investors received five lifetime ski passes for their $25,000 contributions. The passes may now be used at any ski operation run by Vail Resorts.
In a 2006 decision Vail Resorts chose to stop honoring rented lifetime passes, and the lawsuit was filed. The plaintiffs were also concerned with a requirement that they send in or fax transfer forms any time the passes were lent to others. The settlement terms specify that the passes may now be transferred “on a daily basis,” with no mention of transfer forms.
The passes expire upon death of the people listed in the settlement or April 1, 2050, whichever comes first, according to the terms.