Vail Resorts expands: US group takes over Crans-Montana ski resort

2023-11-30 08:29:43

US group takes over Crans-Montana ski resort

After Andermatt-Sedrun, Vail Resorts also wants to include Crans-Montana in its “Epic Pass”. Investments worth millions are planned.

Published today at 9:29 am

Vail Resorts operates over 40 ski resorts around the world – Crans-Montana (pictured) is now the second in Switzerland.

Photo: Jean-Christophe Bott (Keystone)

The US ski resort operator Vail Resorts is taking over the Valais ski resort of Crans-Montana. The company wants to use this to advance its growth strategy in Europe. According to a statement on Thursday, Vail Resorts is taking over 84 percent of the shares in the ski lift operating company. In addition, the company will take over 80 percent of the ski school company as well as all eleven restaurants in the region.

With the acquisition, Vail Resorts expects significant revenue growth and a larger number of international guests. The year before, Vail Resorts already the Andermatt-Sedrun destination was taken over by Orascom Development Holding (ODH).

EBIT of 5 million expected after takeover

Vail Resorts estimates the value of Crans-Montana at around 118.5 million francs. The US company wants to include the area in its “Epic Pass products” and invest around 30 million francs over the next five years. The “Epic Pass” can currently be used to visit the ski areas Andermatt-Sedrun-Disentis and Verbier4Vallées in Switzerland, Les 3 Vallées in France, Skirama Dolomiti in Italy and Ski Arlberg in Austria.

In the first full year of operation after the expected completion of the takeover in 2024, i.e. at the end of July 2025, the US company expects an operating profit (EBIT) of around 5 million francs. In the medium term, the resort is expected to achieve an annual EBITDA of over 15 million francs, it is said.

Vail Resorts operates a total of 41 ski resorts in the USA, Canada and Australia. The portfolio includes famous ski resorts such as Vail and Beaver Creek in Colorado, Park City in Utah and a majority stake in Whistler Mountain in Canada.