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After taking over two ski areas, Andermatt UR and Crans-Montana VS, US ski area operator Vail Resorts’ hunger for expansion has yet to be satisfied. The company, based in the US state of Colorado, wants to seize every opportunity for further growth in Europe.
«Our expansion strategy in Europe includes new investments. “But it all depends on what opportunities arise,” says Mike Goar, president of the Andermatt-Sedrun ski area, in an interview with the AWP news agency. Goar has been in office since mid-2022. At that time, the US group took over 55 percent of the operating company Andermatt-Sedrun Sport AG. It was previously owned by Andermatt Swiss Alps, a hotel and real estate company owned by Egyptian tourism entrepreneur Samih Sawiris.
41 ski areas on Epic Pass
At the end of November, Vail Resorts took over Crans-Montana’s Valais ski area, along with the ski school and all eleven restaurants in the area. “It is a coincidence that our first two investments in Europe were in Switzerland,” the manager explains. Because A lot Transactions are quite complex due to the large number of actors involved. Vail sees itself as a long-term investor.
With the two acquisitions in Switzerland, Epic Pass subscription holders will be able to use Vail Resorts’ 41 ski areas. The vast majority of these are 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 Whistler Mountain in Canada.
The US company has also signed various partnerships with ski resorts that allow Epic Pass holders to ski for a limited time and under certain conditions. These include the ski areas Verbier 4 Vallées in Switzerland, Les 3 Vallées in France, Skirama Dolomiti in Italy and Ski Arlberg in Austria.
2.3 million users
The expansion of the Epic Pass will give a boost to two Swiss ski areas. 2.3 million ski subscription holders are a large customer group, which increases the impact of marketing. So far, Epic Pass customers have mostly come from North America and Australia. Only a small portion comes from Europe, but that should “grow step by step,” Goar says.
At the beginning of the winter season, less than 10 percent of guests at the Andermatt-Sedrun ski area had an Epic Pass. “It’s still early, but the trend is positive,” says Goar. The number of visitors will increase and accommodation opportunities will also increase. “The region is in a growth phase: more than 1000 beds have been created in hotels and holiday homes in recent years,” says the American.
Significant investments are planned
Last year Vail Resorts invested 10 million francs to renew Andermatt-Sedrun’s infrastructure, including the opening of a new restaurant and a new customer information system.
The group has committed to invest 30 million francs in Crans-Montana over the next five years. Goar explains that money should flow to snowmaking systems, ski lifts or restaurants.
There are also synergies in terms of skills, know-how, technology and purchasing in the mountain restaurants in the two ski regions. «Our aim is not to standardize destinations. Each will retain its own character and special features, but we want to deliver the same quality customer experience everywhere,” says Goar.
But two takeovers in Switzerland are not enough. “If a new opportunity arises tomorrow, Vail Resorts is positioned to take it,” Goar says. (SDA/wgr)
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.
