Vail Resorts Completes Acquisition of Crans-Montana Mountain Resort in Switzerland

Broomfield-based Vail Resorts Inc. has completed the purchase of the Crans-Montana Mountain Resort, a well-known ski location in Switzerland, marking their second investment in European ski resorts. The resort spans over 1,400 meters of skiable terrain with 140 kilometers of trails, accessible from five airports and train stations. It is also located two and a half hours away from both Geneva and the company’s other European property, Andermatt-Sedrun.

Vail Resorts acquired a majority stake in Remontées Mécaniques Crans Montana Aminona (CMA) SA that controls and operates the resort’s facilities, together with full ownership of SportLife AG, which handles one of the resort’s ski schools. Additionally, it purchased 11 restaurants in the area. The total valuation for these resort operations stands at approximately $130.2 million USD, inclusive of approximately $7.7 million debt that will remain.

As part of its investment plan, the company is set to inject roughly $33 million over the next five years to enhance guest experience, pending project approvals. This will mainly go towards improving gastronomy efficiencies and expanding snowmaking capabilities.

“We are thrilled to add Crans-Montana Mountain Resort as our second owned and operated ski area in Switzerland”, said Kirsten Lynch, CEO of Vail Resorts. “Crans-Montana is a breathtaking Alpine destination, renowned for its stunning panoramic views, pristine slopes, and vibrant community.”

Under the new structure, Mike Goar, current managing director of Andermatt-Sedrun Sport AG, will be overseeing all Vail Resorts’ operations in Switzerland, now including Crans-Montana. With over 40 years’ experience in the industry, Goar is tasked with operational excellence and to assure success in both resorts. Pete Petrovski has been named the new manager of Crans-Montana, taking up the position ahead of the 2024/25 winter season.

To support Goar’s new role, Igi Zopp has been appointed managing director of Andermatt-Sedrun. Since its acquisition in 2022, the resort has seen more than $22 million in investments, including snowmaking upgrades and restaurant updates.

Vail Resorts Inc. owns and manages a variety of resorts around the globe, including properties in North America, Switzerland, and Australia. The company aims to achieve a zero net operating footprint by 2030.