Vail Resorts In Talks To Acquire Huge Swiss Ski Resort

Vail Resorts is reportedly in talks to acquire its second European ski resort.

Swiss news outlet Le Temps reports that Vail Resorts is in talks with Czech billionaire Radovan Vitek to acquire the ski resort that he owns: Crans Montana Aminona (CMA) mountain railways. The deal would sell the operation of the ski lifts and parking lots to Vail Resorts. Neither Vail Resort nor Vitek have confirmed these reports, as talks are obviously ongoing. The reports were confirmed to Le Temps by regional officials who are knowledgeable about the situation. The deal could be announced by the end of this month.

What will ultimately decide this deal is whether Vail Resorts wants to take over the Crans Montana parking lots owned by Radovan Vitek. The problem with these parking structures is that some need repairs, while others are unusable. Due to this, Vail Resorts wants these lots to be taken over by the municipality. If the billionaire doesn’t agree with these terms, the deal could possibly go kaput.

The move would double up Vail Resorts’ stake in Switzerland. Last year, the Colorado company became the majority owner of Andermatt-Sedrun Sport AG. The ski resort conglomerate is planning to spend $150 million on Andermatt-Sedrun Sport AG, including new lifts, snowmaking equipment, restaurants, and more.

With its large stake in the North American market not quite producing the results they have wanted financially, it may be time to add more European mountains to its portfolio.