February 25, 2024

Crans Montana ski resort has been acquired by an American company

According to a statement issued Thursday, Vail Resorts acquired 84 percent of the shares of the ski lift operator. In addition, the company will acquire 80 percent of the ski school company as well as all eleven restaurants in the region. With the acquisition, Vail Resorts expects significant revenue growth and a greater number of international guests.

Good experiences in Andermatt-Sedron

Vail has 41 ski resorts around the world. In Switzerland, Crans-Montana is the second Swiss ski resort acquired by the company, along with Andermatt-Sedron. The American winter sports giant paid 149 million francs to buy a 55% stake in Andermatt Swiss Alps (ASA), owned by Egyptian businessman Samih Sawiris.

We have had good experiences with Vail Resorts in this area so far: the company brings a lot of knowledge and is invested in what it offers its guests and in continuing to develop the destination. In addition, they “respect local conditions,” a spokesman for the Swiss Alps Andermatt said when asked by news agency AWP.

The network in Europe is getting bigger and bigger

Vail Resorts estimates the value of the resort at approximately 118.5 million francs. The American company wants to include Crans-Montana in its “Epic Pass products” and invest about 30 million francs in the region over the next five years.

The Epic Pass can currently be used to visit the ski areas Andermatt-Sedrun-Disentis and Verbier 4Vallées in Switzerland, Les 3 Vallées in France, Skirama Dolomiti in Italy and Ski Arlberg in Austria.

See also  More than 300 dead in Haiti earthquake - more victims feared

Vail Resorts operates a total of 40 ski resorts in the USA, Canada and Australia. The portfolio includes popular ski resorts such as Vail and Beaver Creek in Colorado, Park City in Utah and a majority stake in Whistler Mountain in Canada. Vail Resorts' annual revenue for the 2022/2023 fiscal year ending at the end of July was $2.9 billion.