Vail Resorts expands in Europe with acquisition of Swiss ski resort : Travel Weekly

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Vail Resorts plants its first flag in Europe and unveils plans to acquire a majority stake in a Swiss ski resort Andermatt-Sedrun.

Under terms of the deal, the Colorado-based company plans to take a 55% stake in Andermatt-Sedrun Sport AG, which controls and operates the resort’s mountain assets, including ski lifts, most of its restaurants and a ski school.

The resort’s current owner, Andermatt Swiss Alps AG, will retain a 40% stake, while a group of existing shareholders will hold the remaining 5% of the company.

At the same time, Vail Resorts announced that it would invest nearly $160 million in the destination. About $118 million is dedicated to capital investments “to improve the customer experience on the mountain,” including upgrading and replacing lifts, improving the snow surface and the artificial snowmaking and the expansion of mountain restaurants.

Just under $42 million will be paid to Andermatt Swiss Alps AG and reinvested in property developments in the base area of ​​the resort.

The transaction is expected to close before the 2022-23 ski season.

According to Vail Resorts CEO Kirsten Lynch, expanding into Europe has been “a long-term strategic priority” for the company.

“We are proud to add this incredible Swiss destination to our network of world-class resorts and welcome Vail Resorts Epic Pass, Epic Day Pass and Epic Local Pass holders to experience the charming villages, alpine terrain and many resort amenities,” Lynch said in a statement.

Andermatt-Sedrun offers approximately 75 miles of varied ski terrain. Photo credit: Valentin Luthiger

Located in central Switzerland, Andermatt-Sedrun is less than 90 minutes from Zurich, Lucerne and Lugano, and about two hours from Milan, Italy.

The destination’s SkiArena Andermatt-Sedrun ski area offers around 75 miles of varied terrain and a top elevation of just over 9,800 feet across the mountains of Andermatt, Sedrun and Gemsstock.

The resort offers a variety of upscale accommodation options, including the five-star The Chedi Andermatt, Radisson Blu Hotel Reussen, and luxury condos, studios, and apartments.

The resort also has a concert hall, an 18-hole golf course and three Michelin-starred restaurants.

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