May 19, 2024

frap | An American company buys the Crans Montana ski resort

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 11 restaurants in the area.

With the acquisition, Vail Resorts expects significant revenue growth and a greater number of international guests.

Good experiences in Andermatt-Sedron

The previous year, Vail Resorts took over management of the Andermatt-Sedrun destination. 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.

EBITDA of 5 million expected post acquisition

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.

In the first full year of operation after the expected completion of the acquisition in 2024, that is, at the end of July 2025, the American company expects earnings before interest, taxes, depreciation and amortization (EBITDA) of approximately 5 million francs. The resort is said to be expected to achieve annual EBITDA of more than 15 million francs in the medium term.

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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.