Ski resorts from countries with a long ski tradition, mainly in Europe and North America, are experiencing signs of participation stagnancy during the past decades. Wondering how to tackle this issue, the researcher merged two paths of his career (business models and the ski resorts management) to come up with the following research question: How might ski resorts innovate their business models by putting special emphasis in customer empathy? This main question counted with three more specific questions, which at the same time, are the three parts that compose the thesis: Part 1: Foundations. How might the current business model literature help ski resorts to understand their current business model? The starting point consisted of a theoretical review of business models (definition, representation, and innovation) and ski resort industry (general overview of the industry and the existing business models). Part 2: Identifying opportunities. How might empathizing with customers help ski resorts identify opportunities for business model innovation? By deep understanding how people’s lives interact with ski resorts, one can identify their unmet needs or problems. In other words, through this approach, one could learn how ski resorts could be from the point of view of its users. Part 3: Seizing opportunities. How might ski resorts seize these identified opportunities by reconfiguring the existing business model? In orderThis part consisted of leveraging the identified needs into opportunities to innovate ski resorts’ business model. To do so, the researcher came up with solutions, built and test mock-ups out of them and implemented them into the business model. Problems Some problems emerged along the research, which made it even more challenging. Dealing with them tested the researcher’s rigor in the method as well as the capacity to adapt to unexpected situations. Among them, there is the underlying complexity of business models, limitations of time and resources and a high degree of ambiguity. Conclusions Reflecting upon the outcomes of the research, an industry found in a mature and stagnant state as the ski industry, has much more to win than to lose if they innovate their business model. What is more, they have a lot to lose if they do not challenge the status quo. Quoting the words of Frank Lloyd Wright: “Business is like riding a bicycle. Either you keep moving or you fall down.”