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Vail Resorts on May 2 closed on its purchase of Crans-Montana Mountain Resort, a renowned destination ski resort with a history as an outdoor sports haven in Switzerland and around the world. The acquisition represents Vail Resorts' second strategic investment to own and operate ski resorts in Europe. Crans-Montana Mountain Resort spans over 1,400 meters (approximately 4,593 feet) of skiable vertical terrain and 140 kilometers (approximately 87 miles) of trails. Accessible from five airports and by train, Crans-Montana Mountain Resort is in the Valais canton of Switzerland, approximately two-and-a-half hours from Geneva and less than four hours from Milan and Zurich. The resort is two-and-a-half hours away from the company's other owned and operated European resort in Andermatt-Sedrun. Vail Resorts acquired an 84% 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 acquired 100% of SportLife AG, up from the 80% that was previously announced, which operates one of the ski schools located at the resort. Vail Resorts also acquired full ownership of 11 restaurants located on and around the mountain. The valuation for the entirety of these resort operations is CHF 118.5 million, including approximately CHF 7 million of debt that will remain in place. As previously announced, Vail Resorts plans to invest approximately CHF 30 million over the next five years in one-time capital spending to "elevate the guest experience," subject to the timing of capital project approvals and completion. The investments will focus on maximizing gastronomy efficiencies and improving 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, chief executive officer of Vail Resorts. "Crans-Montana is a breathtaking Alpine destination, renowned for its stunning panoramic views, pristine slopes, and vibrant community. We are committed to investing in the resort to support its growth and the vitality of the region. We are also looking forward to including Crans-Montana Mountain Resort on the Epic Pass and welcome skiers and snowboarders from around the globe." Epic Pass Access Details for Crans-Montana Mountain Resort Today, Vail Resorts also announced 2024-25 season pass access details for Crans-Montana Mountain Resort. The company's industry-leading Epic Pass products provide access to the company's mountain resorts at an incredible value, whether they plan to ski one day or every day. For the 2024-25 season, Epic Pass Holders will receive unlimited and unrestricted access to Crans-Montana Mountain Resort. Epic Local Pass Holders will receive five days at the resort, and Epic Day Pass Holders with All Resorts Access will be able to visit using any of their days. View passes and prices, on sale now. For the 2024/25 season, the Crans-Montana One Pass and One + Pass will also continue to be available.