Vail Resorts Acquires Crans-Montana Ski Lifts, a Swiss Ski Resort
Vail Resorts, Inc. (NYSE: MTN) today announced the acquisition of Crans-Montana Mountain Resort from CPI Property Group (“CPIPG”), becoming the owner of its second ski resort in Europe. The Crans-Montana ski area spans 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 is also neighboring Andermatt-Sedrun, already owned by Vail Resorts.
Crans-Montana is known for its outdoor sports and activities, hosting events such as the Alpine Ski 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 ski lifts is part of Vail Resorts’ growth strategy in Europe, and the resort will be added to the Epic Pass product line for the 2024/25 ski season.
Vail Resorts becomes the majority shareholder of Remontées Mécaniques Crans Montana Aminona (CMA) SA, which manages the 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 of Municipalities of Crans-Montana looks forward to collaborating with Vail Resorts to develop the resort and organize the Alpine Ski World Championships scheduled for 2027.
Vail Resorts plans to invest in improving the visitor experience and anticipates significant growth in Crans-Montana through 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 network of the best ski resorts in North America, Switzerland, and Australia, accessible through the Epic Pass. The company is committed to achieving a net-zero operational footprint by 2030 and supporting local communities. For more information, visit www.VailResorts.com and www.EpicPass.com.
