Vail Resorts Buys Swiss Ski Area
| Guess we’re going to Europe next year! Vail Resorts just announced that they are making the moves on Crans-Montana Mountain Resort in Switzerland and those with certain Epic Passes (yay for employees!) will get to ski for free (we assume). This second European acquisition is part of VR’s plan for world ski domination. Because the majority of skiers are in that part of the world, it only makes sense for the Colorado behemoth to tackle the massive Crans-Montana, a mere 2.5 hours away from their other ski spot, Andermatt-Sedrun. Not to mention that if the snow is bad in the U.S., they’ve got that part of the world to take up the financial slack. You can reach CMMR from five different airports and by train. You’re two and a half hours from Geneva and less than four hours from Milan and Zurich. Just think of the Epic possibilities! |
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| According to VR’s press release (believe me I tried to get this information on my own from the ski area’s website but it’s a hot mess), “Crans-Montana Mountain Resort spans over 1,400 meters (approximately 4,593 ft) of skiable vertical terrain, and a massive 140 kilometers (approximately 87 mi) of trails.” CMMR has hosted ski and mountain bike World Cups, the Omega European Masters, and other championships, the Caprices Festival and more.  “We believe Crans-Montana has a unique opportunity for future growth. We are committed to elevating the guest experience at Crans-Montana, the broader community, and region,” said Kirsten Lynch, VR’s Chief Executive Officer in her release. “Vail Resorts is planning to invest approximately CHF 30 million over the next five years in one-time capital spending.” Vail Resorts purchased an 84-percent ownership stake in Remontées Mécaniques Crans Montana Aminona (CMA) SA, which controls and operates all the resort’s lifts and supporting mountain operations, including four retail and rental locations. The company is acquiring an 80-percent ownership stake in SportLife AG, which operates one of the ski schools located at the resort. Further, Vail Resorts will gobble up 100 percent ownership of 11 restaurants located on and around the mountain. The deal should close this season 2023/24 but no changes will be made until 24/25. The Epic Pass currently works at Andermatt-Sedrun-Disentis, as well as five days at Verbier4Vallées in Switzerland, seven days at Les 3 Vallées in France, seven days at Skirama Dolomiti in Italy and three days at Ski Arlberg in Austria. Find the detes at www.epicpass.com. |