The expansion of the SkiArena Andermatt-Sedrun and the vacation region as a whole to become a Prime Alpine Destination is being advanced thanks to a substantial investment. The world’s leading ski region operator, Vail Resorts, is investing approximately 149 million Swiss francs overall in Andermatt-Sedrun Sport AG. To this end, Vail Resorts, headquartered in Broomfield, Colorado, is acquiring a majority stake of 55 percent in Andermatt-Sedrun Sport AG.
This is the first investment in a European ski destination made by Vail Resorts. In total, the company operates 40 mountain destinations located in the USA, Canada and Australia. Andermatt Swiss Alps will retain a stake of around 40 percent in Andermatt-Sedrun Sport AG.
According to a press release, this investment comprises two tranches: firstly, a total of 110 million Swiss francs will be put towards improving the “guest experience” on the mountain. This will be invested in Andermatt-Sedrun Sport AG with the aim of expanding and modernizing the SkiArena Andermatt-Sedrun. The second tranche of the investment totals 39 million Swiss francs, which will help to finance the development of real estate, hotels and infrastructure, as well as the expansion of Andermatt Reuss.
“Vail Resorts is the ideal partner for our goal of developing Andermatt into The Prime Alpine Destination”, comments Samih Sawiris, majority owner and Chairman of the Board of Directors at Andermatt Swiss Alps AG, in the press release, before adding: “With Vail Resorts’ deep expertise in successful operations of integrated mountain destinations, the company’s impressive marketing capabilities and destination guest reach, and the additional capital investment in the resort, Vail Resorts will provide a significant boost to the development of Andermatt-Sedrun”.
A representative of Vail Resorts will be appointed to chair the Board of Directors of Andermatt-Sedrun Sport AG, while Andermatt Swiss Alps will be responsible for nominating the Vice-Chair.
