Vail Resorts to Acquire Crans-Montana Mountain Resort
Monday, December 4, 2023
Vail Resorts has just announced that it has entered into an agreement to acquire Crans-Montana Mountain Resort in Switzerland from CPI Property Group. This is the company’s second ski resort in Europe. Crans-Montana Mountain Resort offers over 4,593 feet of skiable vertical terrain and 86 miles of trails.
Crans-Montana Mountain Resort is easily accessible from five airports and by train. It’s located in the Valais canton of Switzerland, two and a half hours from Geneva and less than four hours from Milan and Zurich. It is also two and a half miles away from Vail Resorts’ other European resort in Andermatt-Sedrun.
This new resort is set in the Swiss Alps, a top-rated ski destination, and is known as one of the best ski resorts in all of Europe. Guests can enjoy breathtaking views of the Matterhorn and Mont Blanc as gourmet restaurants, high-end retail stores, and the new Six Senses lodge and spa in the Crans-Montana commune. Crans-Montana Mountain Resort features 45 ski-in, ski-out chalet-style rooms above the main gondola.
Vail Resorts’ industry-leading line of Epic Pass products allows skiers and riders to access the company’s resorts at an unbelievable value, whether they want to ski one day or every day of their trip. The company plans to include access to Crans-Montana Mountain Resort on select Epic Pass products for the 2024-25 ski and ride season.
Kirsten Lynch, Chief Executive Officer of Vail Resorts, commented:
“Crans-Montana is an iconic ski destination in the heart of the Swiss Alps, with a unique heritage, incredible terrain, passionate team, and a community dedicated to the success of the region. Our acquisition of the resort aligns to our growth strategy of expanding our resort network in Europe, creating even more value for our Pass Holders and guests around the world. Much like Andermatt-Sedrun, we believe Crans-Montana has a unique opportunity for future growth.”
Vail Resorts is acquiring an 84-percent ownership stake in Remontées Mécaniques Crans Montana Aminona SA, which controls and operates all the resort’s lifts and supporting mountain operations. The company is acquiring an 80-percent ownership stake in SportLife AG, which operates one of the ski schools at the resort. Vail Resorts is also acquiring 100 percent ownership of the 11 restaurants located on and around the mountain.
In a statement from its Board of Directors, the Association of the Municipality of Crans-Montana stated:
Crans-Montana looks forward to working closely with Vail Resorts, which will undoubtedly have a clear, long-term strategy for development, marketing, and providing top-quality guest experience. Vail Resorts will bring new energy to the ski area, positively impacting the entire economic structure of the region of Crans-Montana. Vail Resorts as new owner of the ski area will also have a positive impact on the organization of the FIS Alpine World Ski Championships in 2027 at Crans-Montana.
Vail Resorts will work to drive significant growth for the resort through investments in the property and attracting a broader population of international guests looking for a luxury resort experience in the Swiss Alps.
The transaction is expected to close during the 2023-24 ski and ride season, subject to certain third-party consents. Operations at Crans-Montana Mountain Resort for the 2023-24 winter season will continue without interruption. Vail Resorts is committed to keeping on the majority of employees, as well as the the existing operational infrastructure, and local expertise.
Learn more about Vail Resorts on the company’s website.