Vail resorts buys Swiss ski area

BROOMFIELD —  Vail Resorts Inc. (NYSE: MTN), the Broomfield-based ski-area operator with holdings around the globe, has purchased a majority stake in Andermatt-Sedrun Sport AG, a mountain resort property in central Switzerland. 

The deal — which includes Andermatt-Sedrun resort assets such as all lifts, most restaurants and a ski school operation — results in a 55-percent ownership stake for Vail at the total cost of about $155 million, an investment that features a significant commitment to capital improvements.

Mike Goar, former Vail vice president and chief operating officer of Park City Mountain in Utah, has been named the vice president, chief operating officer, and managing director of Andermatt-Sedrun Sport AG, the company said in a news release.

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“I look forward to working with – and learning from – the incredible team at Andermatt-Sedrun and the dedicated community and government partners,” Goar said in the release. “I am excited to support the important investments being made into the resort as we work together to continue Andermatt-Sedrun’s development as a premier alpine destination in Europe. We are proud to add this special resort to the Vail Resorts network and I am personally committed to operational excellence and collaboration.”

For the 2022-23 season, Epic Pass Holders will receive unlimited and unrestricted access to Andermatt-Sedrun, Vail said.