US company takes over Swiss ski resort

Monday, 13 June 2022 05:07

A large American ski company is taking a 55% stake in the Andermatt ski resort in canton Uri.

New York listed company, Vail Resorts, operates destinations in the US, Canada and Australia. including well known venues such as Beaver Creek in Colorado and Whistler Mountain in Canada.

The US company will invest USD 150m in its new venture – the seller, Andermatt Swiss Alps, will keep 45% and invest a further CHF 39m.

The region will also het a new boss – and American Mike Goar. He currently runs Park City Mountain in Utah.

He’ll take up his new post when the sale is finalised – which will be in time for the next season.

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