Fears over mega-investments in Vail Resorts and Gemsstock: How US giant is poaching locals in Andermatt

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A cold wind whistles between the masts of many construction cranes in the north-east of Andermatt RI. Egyptian investor Samih Sawiris (66) and Andermatt Swiss Alps AG have created a completely new part of the village in the Reuss area with hotels, holiday homes and shops in ten years. And the construction boom continues. The locals are used to it now. They still need to get to know the new US giant Vail Resorts in Gemsstock, Blick thinks during an on-site meeting with locals, business people and guests in the mountain village.

The world’s largest ski resort operator and owner has a certain reputation: One small business owner describes Vail Resorts as the “McDonald’s of ski resorts.” He wishes to remain anonymous because he is known in the village of 1,600 people. But he also says this for the majority of survey respondents: “Overall, we should be happy to have the US company here.”

2.89 billion dollar giant

The US giant generated global sales of $2.89 billion in the last fiscal year alone. In North America, the company faces constant criticism for its business model: too few and overworked staff, overpriced day passes, overcrowded ski areas, unaffordable apartments. The first impression in Andermatt is much better so far.

Mike Goar (65), the American mountain railway manager of the Andermatt-Sedrun ski area, has already managed to win the hearts of the locals. One of them is Peter Gnos (38), who has a new neighbor in Goar. “I don’t see anything negative about Vail Resorts’ listing,” he says. “This brings purchasing power and investments.”

Sports shops have benefited from Vail Resorts so far. “Last winter was not easy because there was no snow. “Vail Resorts brought us a lot of American customers,” says Urs Portmann (54), owner of Meyers Sporthaus. He received a lot of reservations for ski equipment from North America for the current winter season. But small “We’ll have to wait and see to what extent Vail Resorts will compete with us with its own sports store,” says Portmann.

Vail Resorts competes in the industry

Americans not only operate ski lifts at ski resorts, but also operate a wide range of restaurants, sports shops, hotels, holiday homes and ski schools. With combination offers of ski passes, equipment rentals or ski instructors, Vail Resorts in Andermatt can grow quickly. In addition to the sports shop, Vail Resorts also operates the largest ski school in Andermatt, competing with four other schools. There is also a wide variety of mountain restaurants. “Vertical integration is at the heart of our business model,” says Mike Goar.

One catering entrepreneur has already felt this desire to expand firsthand. “Vail Resort wanted to buy my bar,” says one entrepreneur, who wishes to remain anonymous. He basically sees the entry of Americans as positive. The region benefits from this as well as from Samih Sawiris’ investments.

According to the catering entrepreneur, most of the dropouts in his class had left Andermatt. Thanks to Ascension, most people in the city can now get apprenticeships. His biggest fear: “Vail Resorts could eliminate local providers in the food and beverage industry with lower prices.”

When asked about this, Goar assures: “There are clearly other restaurants, hosts and shops at our North American resorts. This is important because Vail Resorts believes that successful private entrepreneurs make a critical contribution to the true guest experience.”

Growing attraction factor

Since the army’s withdrawal, Andermatt has become increasingly glamorous. The starting signal for this was the 5-star luxury hotel The Chedi Andermatt, designed by star architect Jean-Michel Gathy (68). Swiss ski legend Bernhard Russi (75) brought an element of celebrity to the board of directors of his hometown’s mountain railways for many years. In addition, Andermatt is increasingly attracting the attention of rich and famous newcomers such as football star Erling Haaland’s father (23) and Alf-Inge Haaland (50).

However, respondents do not believe that skiing in Andermatt can become an expensive luxury product in the future: “If prices increase too much, people will move to other regions,” says Kilian Vogler (36).

Rental prices and ownership issue

Ciro Mattera (51) is also happy with the rise: “Otherwise Andermatt would disappear,” says the manager of the Il Fermento restaurant in the old part of the village. However, Mattera sees a problem in the lack of living space for employees. High property prices worry many people in Andermatt. Property is unlikely to be affordable for families.

Rents are also a problem for many people: “It is very difficult to find an affordable apartment, especially for young people,” says Katia Österlund (22). He works as a ski instructor in the winter and at the Alpina Sport sports store the rest of the year and lives in a shared flat with three other people. “Otherwise the price of the flat would not be affordable for me.” But for him, too, the positives outweigh the negatives: “I wouldn’t be here if it weren’t for the many new jobs created in tourism,” he says, and he hopes the housing problem doesn’t get worse.

Source :Blick