Vail Resorts are moving into Europe. The company announced they are purchasing a majority stake in Andermatt-Sedrun Sport AG in Central Switzerland from Andermatt Swiss Alps AG (ASA). The purchase will help Vail Resorts invest in the Europe market, with a resort that is only 90 minutes from Zurich, Lucerne, and Lugano, and only two hours from Milan, Italy.
The purchase will give Vail Resorts Epic Pass holders access to the Swiss mountain, as well as varying access to partner resorts, including Verbier4Vallées in Switzerland, Les 3 Vallées in France, Skirama Dolomiti in Italy, and Ski Arlberg in Austria.
The purchase will give Vail Resorts 55 percent ownership of Andermatt-Sedrun Sport AG, which includes all ski-related assets, lifts, restaurants, the ski school, and more. ASA will continue to own 40 percent of Andermatt-Sedrun Sport AG, with a group of existing shareholders comprising the remaining 5-percent ownership.
The ski resort also includes The Chedi Andermatt, a five-star hotel, the Radisson Blu Reussen, condos, studios and apartments, a future concert hall, golf course, and three Michelin star restaurants.
“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 the ongoing development of Andermatt-Sedrun into one of the premier alpine destination resorts in Europe, with integrated operations in lifts, food and ski school,” said Kirsten Lynch, chief executive officer of Vail Resorts. “We are proud to add this incredible Swiss destination to our network of world-class resorts and to welcome Vail Resorts’ Epic Pass, Epic Day Pass and Epic Local pass holders to experience the resort’s charming villages, alpine terrain and extensive amenities as we look to create an even stronger offering for skiers and riders in Europe.”
The purchase is expected to close before the beginning of the 2022-2023 ski season.