Vail Resorts has entered into an agreement to acquire its 42nd ski area, Crans-Montana Mountain Resort in Switzerland, the company announced Thursday.
In a deal that has been in the works for several months, Vail Resorts will purchase an 84-percent ownership stake in Remontées Mécaniques Crans Montana Aminona SA, the company that controls and operates the lifts and supporting mountain operations at Crans-Montana.
The purchase is part of an ongoing growth strategy which is simultaneously focused on both European acquisitions and a reduction of the company’s net-operating footprint, Vail Resorts CEO Kirsten Lynch said in a statement issued Thursday.
“Our acquisition of the resort aligns to our growth strategy of expanding our resort network in Europe, creating even more value for our pass holders and guests around the world,” Lynch said in the statement.
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