Vail Resorts Strikes Deal For Swiss Ski Haven: Adding Crans-Montana To Its Global Portfolio
Portfolio Pulse from Shivani Kumaresan
Vail Resorts Inc (NYSE:MTN) is set to acquire an 84% stake in Crans-Montana Mountain Resort in Switzerland from CPI Property Group. The deal includes an 80% stake in SportLife AG and 100% of 11 restaurants. The resort boasts 1,400 meters of vertical terrain and 140 kilometers of trails. The transaction, valued at CHF 118.5 million, is expected to close during the 2023-24 ski season, with the resort anticipated to generate CHF 5 million EBITDA in fiscal 2025. Vail Resorts had $562.9 million in cash as of July 1, 2023. MTN shares closed at $215.22, down 0.49% on Wednesday.
November 30, 2023 | 10:40 am
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Vail Resorts is acquiring a significant stake in Crans-Montana Resort, expanding its European portfolio. The deal includes key operational assets and is expected to contribute to EBITDA by fiscal 2025.
The acquisition of Crans-Montana Resort is a strategic expansion for Vail Resorts, likely to be viewed positively by investors due to the expected EBITDA contribution and the strengthening of its European presence. The slight dip in share price may be a short-term reaction, with potential for recovery as the deal progresses.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100