Vail Resorts Take Over Andermatt Ski Area in Switzerland
Vail Resorts Take Over Andermatt Ski Area in Switzerland
Published : 28-Mar-2022 07:21
Vail Resorts, the world's largest ski resort operator, has bought a majority share in the company that operates Andermatt ski area in Switzerland.
Andermatt has been transformed over the past decade with an investment of over 1 Billion Swiss Francs by a group led by an Egyptian billionaire, Samih Sawiris, building property and totally overhauling the ski area with fast new lifts.
This resort operating business has now sold a 55% stake to Vail Resorts, which already operates 40 resorts in the US, Canada and Australia, for 149 Million Swiss francs.
"Entering the European ski market has been a long-term strategic priority for Vail Resorts. We are excited to be partnering with ASA and investing our capital and resources to support Andermatt-Sedrun's transformation into a premier destination resort," said Kirsten Lynch, Chief Executive Officer of Vail Resorts.
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