Andermatt Swiss Alps invests 170 million in Sedrun
A new tourist complex is to be built in the Graubünden locality. It will consist of hotels, residential buildings, shops, restaurants and leisure facilities.
Andermatt Swiss Alps will build a new tourist complex with 1,800 beds in the Graubünden town of Sedrun. (archives)
KEYSTONE/URS FLUEELER
Andermatt Swiss Alps (ASA) is to build a new tourist complex with 1,800 beds in the Graubünden town of Sedrun. In early August, its newly created subsidiary Dieni Development applied for a building permit.
The complex will include several hotels, residential buildings, shops, restaurants and leisure facilities, i.e. a total of 13 buildings, for an investment amount estimated at 170 million francs by the subsidiary of the Urano-Cairo developer Orascom Development Holding (ODH), owned by Egyptian financier Samih Sawiris.
The 1,800 additional beds are expected to expand supply in the Surselva district by more than 20%, group officials said Friday during a virtual press conference.
The fact that the project is only being carried out now despite the development plan having been approved ten years ago is due to recent developments. “Concluding the cooperation agreement with Vail Resorts was the milestone that allowed us to sit here today and present the new project,” explained ASA Director Raphael Krucker.
Reinforce the ski lifts
Indeed, the influx of tourists in the region must be accompanied by an appropriate development of ski lift facilities. Vail Resorts intends to invest 110 million francs in the operator Andermatt-Sedrun Sport. “Thanks to this amount, the offer will be expanded, for example in the field of catering,” continued the boss of ASA.
Vail in August acquired a 55% majority stake in Andermatt-Sedrun Sport, of which ASA still owns 40% of the share capital. The two companies then agreed to develop the Graubünden tourist destination.
The building permit is expected in December. The start of the works is scheduled for May 2024, the opening of the hotels and holiday apartments for 2027.
ATS
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