Vail Resorts, Inc. reported it closed on the purchase of Crans-Montana Mountain Resort, a destination ski resort with a steep history as an outdoor sports haven in Switzerland. The acquisition represents the company’s second strategic investment to own and operate ski resorts in Europe.
Crans-Montana Mountain Resort spans over 4,593 feet of skiable vertical terrain with 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 percent 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 percent of SportLife AG, up from the 80 percent 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 118.5 million Swiss francs (CHF), 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.”
Vail Resorts Leadership Appointments in Europe
After overseeing the successful acquisition and integration of ski operations at Andermatt-Sedrun for the past 18 months, Mike Goar, managing director of Andermatt-Sedrun Sport AG, was hired to oversee Vail Resorts operations in Switzerland, including Andermatt-Sedrun and Crans-Montana Mountain Resort. He was named regional chief operating officer (COO) in the company’s mountain division, effective immediately. Goar has over 40 years of experience working in the ski industry and has held leadership roles at several of mountain resorts in the U.S., including Park City Mountain 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.”
Leading the day-to-day operations of Crans-Montana Mountain Resort is Pete Petrovski who was named managing director, reporting to Goar effective ahead of the 2024/25 winter season. Originally from Skopje, North Macedonia, Petrovski has over 14 years of experience working in mountain operations and with Vail Resorts. He is the director of skier services at Keystone Resort in Colorado. Bertrand Cassignol will remain with Crans-Montana Mountain Resort as head of operations to ensure business continuity reporting to Petrovski.
To support Goar’s expanded role, Igi Zopp was appointed managing director of Andermatt-Sedrun. Since Vail Resorts acquired Andermatt-Sedrun in 2022, and including budgeted calendar year 2024 projects, the resort has completed over CHF 20 million in investments, including snowmaking upgrades, updated three restaurants and has planned lift projects.
Photo courtesy Crans-Montana Mountain Resort
