class = “sc-cffd1e67-0 fmXrkB”>
“I see 10 to 15 percent growth potential for the region in the next two years,” Crans Montana tourism director Bruno Huggler told AWP news agency in an interview on the sidelines of a media conference on Tuesday. This forecast covers all annual sales, with a special focus on the previously less important fall season. So far, the region has earned about 60 percent of its income in winter and 40 percent in summer.
The tourism representative emphasized the diversity of the region to attract people away from ski tourism to the region. It offers a variety of sports including golf, trail running, wakeboarding and mountain biking.
Far from the concrete block appearance
While the World Ski Championships to be held in 2027 will lead to more investment in the luxury segment (a Hyatt hotel is planned to open at the end of 2024), the region is trying to get rid of the image of a second home location with blocks. 1960s and 1970s.
It is true that some residential properties have been lying vacant for the last few decades. However, since the pandemic, these have been used and renewed more intensively.
There is also a growing trend towards Airbnb rentals. “An estimated 15 to 20 percent of second homes are currently advertised on Airbnb,” says Huggler. This revitalizes the area.
More US tourists
Finally, the local tourism association also hopes to gain growth opportunities through the acquisition of US ski resort operator Vail Resorts. So far, the rate of American tourists in the region has remained at only 3 percent. According to the tourism director, this situation will likely change with the integration of the ski area into the “Epic Pass” for the 2024/2025 ski season. Currently, 80 percent of guests come from Switzerland, especially French-speaking Switzerland.
Vail Resorts recently announced that it will acquire a majority stake in the Crans-Montana mountain railroad, associated restaurants and one of the ski schools. The US ski resort operator estimates the value of the resort at approximately 118.5 million francs.
An investment of approximately 30 million francs is planned in the next five years. In the first full operating year after the expected completion of the acquisition, i.e. at the end of July 2025, the US company in Crans-Montana expects an operating profit before depreciation and amortization (EBITDA) of approximately 5 million francs. In the medium term, the facility is expected to generate annual EBITDA of over 15 million francs.
Good experiences in Andermatt
A year ago, Vail Resorts took over management of the Andermatt-Sedrun destination. The American winter sports giant paid 149 million francs to buy 55 percent of Andermatt Swiss Alps (ASA), owned by Egyptian businessman Samih Sawiris.
We’ve had good experiences with Vail Resorts in this region so far: the company brings a lot of knowledge and investment in what it offers to its guests and in the further development of the destination. In addition, a spokesman for Andermatt Swiss Alps said “they respect the local conditions” when asked by the AWP news agency. (SDA/koh)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
