BBC Overnight Programming 10:00pm - 6:00am

Listen Live

Search

US company takes over Swiss ski resort

Monday, 13 June 2022 05:07

Pixabay

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. 

Share

More from Bitesize News

  • Geneva could foot the G7 bill

    Geneva fears it will be left with the security bill from a G7 summit just across the border in Évian, according to 24 heures.

  • US NGO discovers Swiss child abuse cases

    Switzerland relies too heavily on an American NGO to detect child sexual abuse online, raising questions about the country's ability to protect children on its own.

  • French singer banned by Paleo

    The Paléo Festival in Nyon says it will no longer invite French singer Patrick Bruel, after a former volunteer accused him of inappropriate behaviour.

  • Cars going uninspected

    The cantons are struggling to keep up with mandatory vehicle inspections, leaving more than 550,000 checks overdue nationwide.

  • War may lead to rent rises

    Rents may rise again, says the bank Raiffeisen.

  • Not a heatwave, yet

    Summer has arrived, with temperatures climbing past 30 over the long weekend. Basel reached 31 and Sion hit 32.4, but MeteoSwiss, says this does not yet count as an official heatwave.

Follow WRS

Download our app

  • Available on the App Store
  • Available on Google Play