Vail Resorts acquires resort in Switzerland

Vail Resorts has announced its purchase of Crans-Montana Mountain Resort in Switzerland. This acquisition represents Vail Resorts’ second strategic investment in owning and operating ski resorts in Europe.

In a press release, Vail said the Crans-Montana Mountain Resort spans over 1,400 meters (approximately 4,593 feet) of skiable vertical terrain and 140 kilometres (approximately 87 miles) of trails.

Crans-Montana Mountain Resort is in the Valais canton of Switzerland, approximately two and a half hours from Geneva and less than four hours from Milan and Zurich. The resort is also two and a half hours away from the company’s other European resort, Andermatt-Sedrun.

Vail Resorts acquired an 84-percent ownership stake in Remontées Mécaniques Crans Montana Aminona, which controls and operates all the resort’s lifts and supporting mountain operations, including four retail and rental locations. The company also acquired 100 percent of SportLife AG, up from the 80 percent previously announced. SportLife AG operates one of the resort’s ski schools.

Vail Resorts also owned 11 restaurants on and around the mountain. The valuation for these resort operations is CHF 118.5 million, including approximately CHF 7 million of debt that will remain in place.

“We are thrilled to add Crans-Montana Mountain Resort as our second owned and operated ski area in Switzerland,” said Kirsten Lynch, chief executive officer of Vail Resorts. “Crans-Montana is a breathtaking Alpine destination, renowned for its stunning panoramic views, pristine slopes, and vibrant community. We are committed to investing in the resort to support its growth and the vitality of the region. We are also looking forward to including Crans-Montana Mountain Resort on the Epic Pass and welcome skiers and snowboarders from around the globe.”