![]() Subject to the timing of closing, Vail plans to include unlimited access to Andermatt-Sedrun on the 2022-23 Epic Pass. Vail Resorts CEO Kirsten Lynch said in a statement the investments that ASA and the Egyptian investor made at the resort have created a high-end experience with capacity for growth. Some of the investment will be used for base area real estate development.Īccording to a press release, an Egyptian billionaire has invested nearly $1.4 billion into the surrounding base area in recent years, including high-end lodging and restaurants, a concert hall, and an 18-hole championship golf course. A majority of the investment will be used for on-mountain investments, including lifts, snowmaking, and dining upgrades. Vail is spending more than $160 million on the acquisition. The current owner, Andermatt Swiss Alps, - or ASA - will retain a 40 percent ownership stake, with a group of existing shareholders comprising the remaining 5 percent ownership. Vail is acquiring a 55-percent ownership stake in Andermatt-Sedrun Sport AG, which controls all of the resort’s mountain and ski-related assets, including the chairlifts, most of the restaurants, and a ski school operation. The transaction is expected to close before the 2022-23 winter season begins. It will be the first European ski resort that Vail will own and operate. ![]() Andermatt is a destination ski resort in central Switzerland, located less than 90 minutes from Zurich and Lucerne and about two hours from Milan, Italy. ![]() Vail Resorts has entered into an agreement to purchase a majority stake in the Swiss ski resort Andermatt-Sedrun.
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