Vail Resorts to buy Crans-Montana Mountain Resort in Switzerland

BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) has inked a deal to buy Crans-Montana Mountain Resort in Switzerland from CPI Property Group.

The ski area spans about 4,593 feet of skiable vertical terrain and has roughly 87 miles of trails. 

“Crans-Montana is an iconic ski destination in the heart of the Swiss Alps, with a unique heritage, incredible terrain, passionate team, and a community dedicated to the success of the region,” Vail CEO Kirsten Lynch said in a news release. “Our acquisition of the resort aligns to our growth strategy of expanding our resort network in Europe, creating even more value for our Pass Holders and guests around the world. Much like Andermatt-Sedrun, we believe Crans-Montana has a unique opportunity for future growth.”

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This will be Vail’s second European resort.

“Subject to closing adjustments, the valuation for the resort operations is expected to be CHF 118.5 million (Swiss Francs), including approximately CHF 7 million of debt that will remain in place,” the resort said.