Vail enters European ski market, buys stake in Swiss resort
BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) has inked a deal to acquire a 55% stake in Andermatt-Sedrun Sport AG, a ski resort in central Switzerland, from Andermatt Swiss Alps AG for roughly $160 million.
“Entering the European ski market has been a long-term strategic priority for Vail Resorts. We are excited to be partnering with ASA and investing our capital and resources to support the ongoing development of Andermatt-Sedrun into one of the premier alpine destination resorts in Europe, with integrated operations in lifts, food and ski school,” Vail CEO Kirsten Lynch said in a prepared statement.
The acquisition is expected to close prior to the 2022-2023 ski season.
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BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) has inked a deal to acquire a 55% stake in Andermatt-Sedrun Sport AG, a ski resort in central Switzerland, from Andermatt Swiss Alps AG for roughly $160 million.
“Entering the European ski market has been a long-term strategic priority for Vail Resorts. We are excited to be partnering with ASA and investing our capital and resources to support the ongoing development of Andermatt-Sedrun into one of the premier alpine destination resorts in Europe, with integrated operations in lifts, food and ski school,” Vail CEO Kirsten Lynch said in a prepared statement.
The acquisition is expected…
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