The news is one of those destined to leave its mark. With an investment of 149 million francs, the American Vail Resorts Inc. acquired 55% of the shareholding in Andermatt Sedrun Sport AG, the company that owns the ski lifts in the Swiss destination. After the sale in January of Sestrieres Spa to the English fund Icon Infrastructures (for a total operation of around 120 million euros), other prestigious alpine resorts thus pass into foreign hands as part of operations that aim to relaunch ski resorts by making them destinations exclusives on the model of Vail or Aspen, Colorado.
This strategic partnership represents the first investment in a European ski area by Vail Resorts, a giant listed on the New York Stock Exchange that owns and operates 40 ski resorts in the United States, Canada and Australia. The total amount of the transaction will be reinvested and used for the further expansion of Andermatt, which in the last decade has already experienced unprecedented development with the construction of various hotels and infrastructures (including the luxurious The Chedi) and the ski link. at the foot of the Gemmstock to Sedrun.
The injection of new capital will allow the Swiss resort to further accelerate the expansion of the SkiArena and the destination as a whole: “Vail Resorts is the ideal partner for our goal of transforming Andermatt into the Prime Alpine Destination – commented Samih Sawiris, majority shareholder of Andermatt Swiss Alps AG, which will continue to hold approximately 40% of the shares -. With Vail Resorts’ extensive experience in successful integrated mountain destination operations, the company’s remarkable marketing and engagement capabilities for the destination’s guests, and the additional capital investment in the resort, Vail Resorts will ensure a significant development boost. of Andermatt-Sedrun ».
Of the 149 million Swiss francs invested, 110 will be used as investment capital “to expand ski lifts, artificial snowmaking, catering and infrastructure in the ski area”. The other 39 million will instead be “reinvested in the real estate development of Andermatt Reuss”.
For her part, Kirsten Lynch, Chief Executive Officer of Vail Resorts, said: “Entering the European ski market has long been a top priority for Vail Resorts. We are excited about this partnership with Andermatt Swiss Alps and to invest our capital and resources in the transformation of Andermatt-Sedrun into an excellent ski area. We are proud to add this incredible Swiss destination to our network of ski areas of excellence and to the Epic Pass, expanding access to those who already own our pass and with the aim of creating an even stronger offer for skiers in Europe”.