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Vail Resorts to buy a second Swiss ski resort
Vail Resorts is expanding its international footprint with a new Swiss ski resort acquisition.
The company agreed to buy the Crans-Montana ski resort in the Swiss Alps for about $136 million.
Crans-Montana is about two hours from Geneva and noted for upscale dining, shopping and golf.
It also regularly hosts downhill ski racing.
The current owner is CPI Property Group.
Vail has said it plans to invest in the resort with ‘capital investments maximising gastronomy efficiencies and expanding snow-making capabilities.’
It attracts about three million visitors a year.
The deal is expected to be finalized before the end of the upcoming ski season.
The Crans tourism office said the Vail resorts ownership is ‘an undeniable asset, notably for the North American market.’
It becomes Vail’s second Swiss resort acquisition after Andermatt-Sedrun, which it bought a year ago.
The company also owns three resorts in Australia.
“Much like Andermatt-Sedrun, we believe Crans-Montana has a unique opportunity for future growth,” Vail chief executive CEO Kirsten Lynch said.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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