In Switzerland, Vail Resorts has found something similar to some of its United States properties in the recently linked ski areas of Andermatt and Sedrun.
Vail Resorts on Sunday announced it is acquiring a 55-percent ownership stake in Andermatt-Sedrun Sport AG, a massive ski resort which is the product of two existing ski areas recently joined. When the deal is finalized later in 2022, it will be Vail Resorts’ 41st ski area and its first in Europe.
The effort to link Andermatt and Sedrun began in 2007 with investment from Egyptian billionaire Samih Sawiris, whose Swiss-based firm Orascom Development put up “very substantial financial backing to make the vision become a reality,” Lux magazine reported in its winter 2019 issue.
“With the completion of this link, we connect two cantons, two languages and two cultures,” Sawiris told Lux. “The region from Andermatt to Sedrun, with the connection to Disentis, which will be in place from summer 2019, will be a highlight of the Swiss winter-sports offer.”
Vail Resorts called the project “one of the most ambitious resort development opportunities in Europe,” and said Sawiris invested more than $1.3 billion in Swiss currency into the surrounding base area and over $150 million into the ski resort.
Read the full story from our partner at vaildaily.com.
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