Vail Resorts announced this Thursday morning that it has closed on its purchase of a majority stake in Andermatt-Sedrun Sport AG. Andermatt-Sedrun is a ski resort in central Switzerland, and Vail will now control and operate the resort's mountain and ski-related assets including all chairlifts, most of the restaurants and a ski school operation.
Heading up Vail’s new acquisition is former vice president and chief operating officer of Park City Mountain Mike Goar. He has been named as the Swiss resort’s vice president, chief operating officer, and managing director.
Andermatt-Sedrun is Vail Resorts' first strategic investment in, and operation of, a ski resort in Europe.
The resort is located less than 90 minutes from three of Switzerland's major metropolitan areas (Zurich, Lucerne and Lugano) and about two hours from Milan, Italy.
Vail Resorts acquired a 55-percent ownership of the resort operations from Andermatt Swiss Alps AG ("ASA"), which retains a 40 percent ownership stake. A group of existing shareholders comprise the remaining 5 percent.
Vail said its final purchase price of 149 million Swiss Francs – which is about $155 million - will be fully reinvested into the resort.
In a prepared statement, Goar said he looks forward to working with – and learning from – the resort team at Andermatt-Sedrun and its community and government partners.
For the 2022-23 season, Epic Pass Holders will receive unlimited and unrestricted access to Andermatt-Sedrun (without Matterhorn Gotthard Bahn access). Epic local pass holders receive five days at the resort, and Epic day pass holders with all resorts access can visit using any of their days.
