LIPTOVSKÝ MIKULÁŠ (2 March 2026) – Tatry mountain resorts, a.s. (“TMR”, the “Group”) today published its Annual Report for the 2024/25 financial year. The results reflect the Group’s stable performance, supported by organic growth in key segments, a strong focus on service quality, and continued investments in infrastructure and innovation.
The development of key performance indicators across individual segments reflected differing operating conditions throughout the year, while total Group revenues remained stable and recorded a slight year‑on‑year increase.
“During the 2024/25 financial year, we achieved continued growth in revenue. These results were primarily driven by the organic growth of our resorts, hotels, and ancillary services. High-quality snowmaking infrastructure, ongoing product innovations, and effective marketing communications further strengthened our overall performance. We recorded particularly strong revenue growth at our international mountain resorts in the Czech Republic, Poland, and Austria, supported by stable and favorable weather conditions. This represents an improvement compared to the previous financial year when significant warming negatively affected operations. By contrast, the amusement parks segment experienced a decline in attendance due to unfavorable weather conditions during the peak summer season. In the hotel segment, we achieved an increase in both the average daily rate per room and occupancy levels. This performance was driven largely by the continued success of our popular bundled accommodation packages, which combine lodging with ski passes and aqua passes Ancillary services across our resorts also delivered positive results, with restaurant facilities, sports services and shops all recording significant annual revenue growth. The Group’s total consolidated revenues reached EUR 208.9 million, representing a year-on-year increase of 1%, while operating profit (EBITDA) amounted to EUR 57.4 million. Revenue performance was partially influenced by the introduction of the GOPASS cashback program, which is recorded as a reduction in reported revenues, but serves as a tool to support future revenue growth and customer loyalty. After accounting for depreciation, impairment charges on non-current assets arising from the revaluation of key assets, financial costs, and taxes, the Group recorded a consolidated loss of EUR 11.5 million. Despite this accounting loss, we are meeting all our obligations with our suppliers and creditors, and the Group’s financial stability remains intact” commented Igor Rattaj, Chairman of the Board and CEO of the TMR Group.
The largest segment, Mountain Resorts, achieved revenues of EUR 78.421 million, representing a slight year‑on‑year decrease of 0.4%, mainly due to the impact of the new Gopass Cashback loyalty programme on reported revenues. The Amusement Parks segment recorded a decline in revenues to EUR 25.605 million, primarily as a result of unfavourable weather conditions during the main summer season.
In contrast, the Hotel segment and Ancillary Services recorded positive development. Restaurants achieved revenues of EUR 31.742 million, Sports Services and Shops increased revenues to EUR 8.556 million, and the Hotels segment recorded an increase in revenues to EUR 63.038 million. The performance of these segments was mainly supported by higher visitor numbers, growth in average prices and the popularity of comprehensive stay packages. Declines in reported revenues in certain segments were also partially influenced by the introduction of the new Gopass Cashback loyalty programme, which is accounted for as a reduction in reported revenues but creates a foundation for increased customer loyalty and future revenue growth.
The number of skier days in the Mountain Resorts segment increased year‑on‑year by 2.8% to 3.008 million (3.008). Amusement parks recorded a decline in attendance to 1.698 million visitors (1.810) during the period under review.
The weighted average occupancy of the hotel portfolio improved by 0.7 p.p. to 59.5%. The average daily room rate (ADR) across the portfolio increased by 7.2% to EUR 125.5.
In the past year, the Group invested more than EUR 21 million. Investments were primarily directed to Slovak resorts, with the key project being the construction of a new chairlift at Štrbské Pleso. A significant portion of funds was allocated to technical infrastructure in mountain resorts. In Tatralandia, the attraction offering was expanded with new summer water slides. In foreign resorts, investments in infrastructure and equipment continued across all segments of the Group’s business.
Detailed results are available at https://tmr.sk/en/investor-relations/shares/annual-reports
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The company Tatry mountain resorts, a.s. (TMR) is a leading entity in the field of tourism in Central and Eastern Europe, which owns or leases and operates attractive mountain resorts, amusement parks, golf resort, restaurants, sports services, shops, and hotels. In the Low Tatras in Slovakia, TMR owns and operates the Jasná Nízke Tatry resort and the hotel’s Grand Jasná, Hotel Tri Studničky, Chalets Jasná Collection, Hotel Srdiečko, Hotel Pošta, Night at Mt. Chopok, Hotel SKI, Hotel Liptov, Hotel Ostredok, Mountain Hotel Hrebienok. TMR is also the owner of the water parks Tatralandia and Bešeňová. These are the largest water parks operating year-round, offering accommodation in bungalows and apartments in Holiday Village Tatralandia and in the hotels Bešeňová, Galeria Thermal Bešeňová, and Hotel Akvamarín Bešeňová. In the High Tatras, TMR owns and operates the Vysoké Tatry resort with mountain locations Tatranská Lomnica, Starý Smokovec, and Štrbské Pleso. In the Slovak High Tatras, TMR also owns the hotels Grandhotel Praha Tatranská Lomnica, Grandhotel Starý Smokovec, Hotel FIS Štrbské Pleso, Horec Apartments Tatranská Lomnica and Night at Mt. Lomnickom štít. In Austria, the Group owns and operates the alpine resort on the Mölltaler Gletscher glacier and Muttereralm Innsbruck. In the Czech Republic, TMR also holds a minority stake in Melida, a.s., which leases and operates the Špindlerův Mlýn resort. TMR also leases and operates the Czech ski area Ještěd, Golf & Ski Resort Ostravice, and leases the Kaskáda Golf Resort Brno, where it oversees the operation of the hotel, restaurant, and congress center. In Poland, TMR owns and operates the mountain resort Szczyrk Mountain Resort and Legendia – Silesian Amusement Park (Śląskie Wesołe Miasteczko). In the real estate projects, the Group primarily focuses on the development, construction, and sale of apartments and commercial spaces and the leasing of hotels in TMR resorts. By the end of the 2025 fiscal year, approximately EUR 507 mil., has been reinvested in the development and modernization of TMR resorts. TMR shares are traded on three European stock exchanges in Bratislava, Prague, and Warsaw.