That's what I thinking regarding the Andermatt deal. Sounds like that may not be the case.
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VAIL SUCKS
- Thread starter thebigo
- Start date
Here is my reading of the press release.
Vail Resorts, Inc. ("Vail Resorts") is acquiring a 55-percent ownership stake in Andermatt-Sedrun Sport AG.
ASA will retain a 40-percent ownership stake in Andermatt-Sedrun Sport AG
Pre-transaction: ASA (The Andermatt Swiss Alps Group) also owns Andermatt-Sedrun Sport AG with its cableways, the catering brand Mountain Food, the Swiss Snowsports School Andermatt, an 18-hole, par-72 championship golf course, and the Andermatt Concert Hall.
Expected EBITDA is CHF 5 million in its fiscal year ending July 31, 2024 (first full year post transaction)
So they bought the majority stake in ski ops, food, golf, and concert hall. But not the real estate and hotel stuff.
Vail Resorts, Inc. ("Vail Resorts") is acquiring a 55-percent ownership stake in Andermatt-Sedrun Sport AG.
ASA will retain a 40-percent ownership stake in Andermatt-Sedrun Sport AG
Pre-transaction: ASA (The Andermatt Swiss Alps Group) also owns Andermatt-Sedrun Sport AG with its cableways, the catering brand Mountain Food, the Swiss Snowsports School Andermatt, an 18-hole, par-72 championship golf course, and the Andermatt Concert Hall.
Expected EBITDA is CHF 5 million in its fiscal year ending July 31, 2024 (first full year post transaction)
So they bought the majority stake in ski ops, food, golf, and concert hall. But not the real estate and hotel stuff.
That makes sense. And lines up with the valuations.
So much for Switzerland remaining a neutral country
RichT
Active member
Who's got the last 5%?
My mom was Swiss. I'm proud to be a dual national.
I hate that Vail is spreading it's evil tentacles into Switzerland. Vail truly does suck.
KustyTheKlown
Well-known member
i know this is a joke about vail, but i cant help but point out that swiss neutrality isn't a thing to be lauded. it was basically an excuse for them to just look the other way when the nazis were marauding thru europe.
If I had to guess, I would say some local investors.
drjeff
Well-known member
Gotta to remember that in Europe, some of the lifts at a resort are owned by individuals or small groups of investors, not the resort itself and those owners get a fee for each rider.
That may account for some of that 5% as well
Who was talking about Swiss neutrality during WW2?
You are such a fucking buzzkill.
abc
Well-known member
What difference would it have made?
France, Holland and Belgium didn't "look the other way"... What happened to the Jews living in Holland and France at the time?
ss20
Well-known member
Guys... the off-season is still at least a month away. Then we can resume the geo-political ethical debacles of 80 years ago that were halfway across the globe.
Kingslug20
Well-known member
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Vail sux...stay on target...
trackbiker
Active member
The Swiss are going to hate Vail when the American Epic crowds invade their country.
drjeff
Well-known member
Perspective... there are about 190 million skiers/riders in Europe. There are about 50 million who call themselves skiers/riders in the US (Doesn't mean they're active skiers/riders every year, they just call themselves skiers/riders). About 2 million Epic Passes/pass products were sold last year. While some will travel to Europe to use their Epic's next season, guessing it won't make much of a blip on the radar volume wise at Andermatt next season if one logically thinks about it
It's all downhill.....
As I said, I rode the Glacier Express through it in 2017. Like other European areas, it is made up of different "areas" surrounding the town. The eastern end, which we traversed on the train, has a lot of newer lifts and open terrain. The town is nice--about an hour or so east of Zermatt. It is in between St. Moritz and Zermatt. Nice area but from what I saw not as visited as other areas.
Here's a map. Looks like they merged with Disentis, which is further east. Andermatt, proper, is on the far left of this map. The orange dotted line is the RhB/MGB rail line (the Glacier Express)
