Crans-Montana acquisition part of Vail Resorts' growth strategy in Europe
Crans-Montana is known for its outdoor sports and activities.
Vail Resorts acquires the ski lifts of Crans-Montana, a Swiss ski resort
Vail Resorts, Inc. (NYSE: MTN) today announced the acquisition of Crans-Montana Mountain Resort from CPI Property Group (“CPIPG”), thus becoming the owner of its second ski resort in Europe. The Crans-Montana ski area extends over 140 kilometers of slopes, offering spectacular views of the Matterhorn and Mont Blanc, and is accessible from five airports, as well as by train, just a few hours from Geneva, Milan and Zurich. The resort also neighbors Andermatt-Sedrun, already owned by Vail Resorts.
Crans-Montana is renowned for its outdoor sports and activities, hosting events such as the Alpine Skiing World Cup, the Mountain Bike World Cup, the Omega European Masters and the Caprices Festival. It is also home to restaurants, luxury boutiques and the recently opened Six Senses Resort & Spa.
The acquisition of the Crans-Montana lifts is part of Vail Resorts’ growth strategy in Europe, and the resort will be added to the Epic Pass product range for the 2024/25 ski season.
Vail Resorts becomes the majority shareholder of Remontées Mécaniques Crans Montana Aminona (CMA) SA, which manages ski lifts and commercial rental sites. The company also acquires an 80% stake in SportLife, a local ski school, and becomes the sole owner of 11 restaurants in the resort.
The Association des communes de Crans-Montana is looking forward to working with Vail Resorts to develop the resort and organize the Alpine World Ski Championships scheduled for 2027.
Vail Resorts is planning investments to enhance the visitor experience and anticipates significant growth in Crans-Montana thanks to its integration into the Epic Pass.
The transaction is scheduled for the 2023/24 ski season, with a commitment to retain the vast majority of employees and local expertise.
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About Vail Resorts, Inc. (NYSE: MTN)
Vail Resorts is the Epic Pass network of the best ski resorts in North America, Switzerland and Australia. The company is committed to achieving a net zero operational footprint by 2030 and to supporting local communities. For more information, visit www.VailResorts.com and www.EpicPass.com.
