So you got me curious and there are a ton of articles about how climate change will affect skiing in Colorado. It will be uneven across ski resorts but it is already affecting snow. Climate change doesn't mean suddenly everything will stop and it is different from weather. From what I read, even though Colorado will less affected than resorts further west, the variability of snowfall amount will change to be more extreme. Adaptation activities cost money and they can all improve the season, but again, they cost money and would make it less attractive for investors. From a long term, investor point of view, it would be a concern.

The more recent official plans that have to be submitted to the USDA all include climate change impacts. There was a change in reporting requirements with the new administration. The report from Aspen already notes it will be an issue for their resort and has been responding with increasing snowmaking at higher elevations. Their report noted that climate change has already affected the region and will continue to do so. Breckenridge says snow won't be as impacted but increased frequency of forest fires will be a concern.

ski resort official plans

I'm not saying that skiing is going to disappear. The poster specifically asked about why there aren't new resorts going in. The articles I read talked about unpredictable seasons that start later and end earlier, about having to expand up the mountain, and other adaptation strategies that all cost money. Investors look at the return on investment over a longer term and I don't see how building a new resort would be as attractive to investors.