Report: Vail looking to buy second resort in Switzerland
Vail Resorts is in talks to acquire what would be its second mountain in Europe, according to a Swiss news outlet.
Le Temps reports the billionaire owner of Crans Montana Ski Resort is in “very advanced negotiations” with Vail Resorts about a potential sale.
Located in southwestern Switzerland, the resort features 26 lifts, 56 trails, and over 4,600 feet in vertical drop.
Vail has not confirmed the reports of negotiations.
The company, which owns Park City Mountain, bought a majority stake in the Swiss resort Andermatt-Sedrun last year.
Along with buying its first resort in Europe, the company recently announced long-term Epic Pass partnerships with three ski areas in Austria, Italy, and France. Andermatt’s neighboring resort Disentis was also added to the Epic Pass.
On earnings calls, executives have consistently touted Europe’s resort potential.
Vail CEO Kirsten Lynch said last month the company’s balance sheet was strong, and it will continue to pursue acquisitions. The company reports over $1 billion in spending power.
Lynch noted in a CNBC interview last year that Europe’s ski market is almost triple the size of that in the United States.