Vail Resorts Completes Acquisition of Crans-Montana Mountain Resort as Second European Ski Gem - Travel And Tour World

Vail Resorts, Inc. has finalized its acquisition of Crans-Montana Mountain Resort, a distinguished skiing destination with a rich legacy in outdoor sports both in Switzerland and globally. This purchase marks Vail Resorts' second strategic venture into owning and managing ski resorts in Europe.

Crans-Montana Mountain Resort boasts an impressive 1,400 meters (approximately 4,593 feet) of skiable vertical terrain and 140 kilometers (approximately 87 miles) of trails. Situated in the Valais canton of Switzerland, the resort is conveniently accessible from five airports and by train. Located approximately two and a half hours from Geneva, and less than four hours from Milan and Zurich, it is also in close proximity to Vail Resorts' other European property in Andermatt-Sedrun.

In this acquisition, Vail Resorts acquired an 84-percent stake in Remontées Mécaniques Crans Montana Aminona (CMA) SA, the entity overseeing all lift operations and mountain support services, including four retail and rental outlets. Additionally, the company now owns 100 percent of SportLife AG, previously 80 percent, which manages one of the ski schools on-site. Vail Resorts has also gained full ownership of 11 mountain-side and nearby restaurants. The overall valuation for these operations amounts to CHF 118.5 million, which includes approximately CHF 7 million in existing debt.

Aligned with prior announcements, Vail Resorts intends to inject around CHF 30 million into one-time capital expenditures over the next five years. These investments will be directed towards enhancing guest experiences, with a focus on optimizing dining services and expanding snowmaking capabilities, contingent upon the approval and completion timelines of capital projects.

"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." 

Insights into Epic Pass Access at Crans-Montana Mountain Resort

In tandem with today's announcement, Vail Resorts has unveiled the access details for the 2024/25 season passes for Crans-Montana Mountain Resort. The renowned Epic Pass collection, celebrated for its exceptional value, grants unparalleled access to Vail Resorts' array of mountain destinations, catering to all skiing preferences, from occasional visits to daily adventures. For the upcoming season, Epic Pass Holders enjoy unrestricted and unlimited entry to Crans-Montana Mountain Resort. Epic Local Pass Holders are entitled to five days of skiing at the resort, while Epic Day Pass Holders with All Resorts Access can utilize any of their allotted days. Passes and pricing are currently available for purchase. Additionally, the Crans-Montana One Pass and One + Pass options remain accessible for the 2024/25 season.

Furthermore, the Epic Pass extends its benefits with unrestricted access to Andermatt-Sedrun-Disentis, along with entry to esteemed European partner resorts. These include 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. Specific details can be found at www.epicpass.com.

Vail Resorts Leadership Appointments in Europe

Following his effective oversight of ski operations at Andermatt-Sedrun over the past 18 months, Mike Goar, the current managing director of Andermatt-Sedrun Sport AG, has been tasked with leading Vail Resorts' operations in Switzerland, encompassing Andermatt-Sedrun and Crans-Montana Mountain Resort. Effective immediately, he assumes the role of regional chief operating officer (COO) within the company's mountain division. With over 40 years of experience in the ski industry, Goar brings a wealth of expertise, having held leadership positions at prominent mountain resorts in the United States, including Park City Mountain, the country's largest resort, located in Utah.

"I am personally committed to operational excellence and continued collaboration with our many passionate partners to ensure the success of both Andermatt-Sedrun, and now, the incredible Crans-Montana Mountain Resort," said Goar. "These resorts each provide a unique experience for skiers and riders visiting the Swiss Alps. I look forward to learning more about Crans-Montana through a valuable partnership with our employees and community members and contributing to its future growth and sustainability."

Pioneering the daily endeavors at Crans-Montana Mountain Resort is Pete Petrovski, who assumes the role of managing director, effective prior to the onset of the 2024/25 winter season. Hailing from Skopje, North Macedonia, Petrovski brings over 14 years of expertise in mountain operations and a robust background with Vail Resorts. Currently serving as the director of skier services at Keystone Resort, a prestigious skiing destination in Colorado, USA, Petrovski oversees a vast expanse of skiable terrain spanning three peaks and five bowls, totaling over 3,000 feet (900 meters). Bertrand Cassignol remains integral to Crans-Montana Mountain Resort's operations as head of operations, ensuring seamless business continuity under Petrovski's guidance.

In light of Goar's expanded responsibilities, Igi Zopp steps into the role of managing director at Andermatt-Sedrun. Following Vail Resorts' acquisition of Andermatt-Sedrun in 2022 and including slated projects for the 2024 calendar year, the resort has invested over CHF 20 million in various initiatives. These endeavors encompass enhancements to snowmaking capabilities, renovations across three dining establishments, and meticulous planning for lift infrastructure upgrades.