2023-12-01 20:10:47
While Vail Resorts announced the acquisition of the Crans-Montana ski lifts on Thursday, its representative assured RTS at the signing of the transaction that his company would collaborate with all parties. “We will be reliable partners,” said Mike Goar.
The world number one in the ski market Vail Resorts has bought the Crans-Montana area, until now owned by Czech billionaire Radovan Vitek, for 118.5 million francs.
Concretely, the American group acquired 84% of the shares of the Crans Montana ski lift company Aminona (CMA) SA. He also bought 80% of the shares in the public company SportLife, which operates one of the resort’s ski schools. Eleven high-altitude restaurants also fall into the hands of the American giant.
>> Read also: The American group Vail Resorts buys the Crans-Montana ski area
This purchase is a “fabulous opportunity” for Vail Resorts to enter the European market, believes Mike Goar, who represented the group during the transaction in Valais. He notes that this station quickly “became a real option”, because it “has quite a history” and it is a “world-famous destination”.
The station has quite a history. It is a world-famous destination. We thought it was a fabulous opportunity
Mike Goar, Vail Resorts Representative
A “strategic” acquisition
In Switzerland, Vail Resorts already held 55% of the ski lift company in the Urano-Grison Andermatt-Sedrun area since August 2022. Crans-Montana thus becomes the second Swiss resort to integrate the Epic Pass, the pass which allows skiing in all the stations in the group, around forty in total.
This network also has partner resorts, including Verbier 4 Vallées, where anyone with the American pass can ski for five days.
“This acquisition has proven to be very strategic for us. It will be a major asset which will complete this network of stations that we already have,” said Mike Goar, interviewed in 7:30 p.m. The manager also ensures that the group’s strategy in Europe is “totally transparent”.
>> Review the 7:30 p.m. topic on the takeover of CMA:
The American group Vail Resorts buys the Crans-Montana ski area from Czech billionaire Radovan Vitek. / 7:30 p.m. / 2 min. / yesterday at 7:30 p.m.
Collaborate with local actors
Concerning the 160 full-time employees that CMA has, “we are committed to keeping the vast majority of them and benefiting from their expertise,” Vail Resorts said at the time of signing.
Mike Goar confirms this: “The most important thing we must do is to reach out to employees, to public authorities, to the authorities. We have enormous experience. They will be able to count on us. We will listen to them, learn and work with them to show them that we will be reliable partners.”
The most important thing we must do is reach out to employees, to public communities, to authorities
Mike Goar, Vail Resorts Representative
However, skiers are already worried regarding the price of the pass for next year, which is likely to be higher than today. According to Mike Goar, the Epic Pass, which goes on sale every March, is “definitely affordable.” And to specify that last March, it cost a little more than 800 dollars and gave access to all the group’s stations.
“Every year, thanks to this joint package, two and a half million people can ski in our areas. We will encourage them all to come see us in Crans-Montana,” concludes Mike Goar.
>> Parlons Cash’s explanations on this buyout:
Let’s Talk Cash – The buyout of the Crans-Montana ski lifts / La Matinale / 3 min. / today at 07:17
Comments collected by Flore Dussey
Web adaptation: Frédéric Boillat
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