Crans-Montana mountain region wants to grow with low season and Airbnb
Published: Tuesday, Dec 5th 2023, 15:10
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The Valais mountain region of Crans-Montana sees double-digit growth potential beyond the ski season in snow-independent sports and increased Airbnb rentals. This should also make it possible to remain independent of the US giant Vail Resorts.
"Over the next two years, I see growth potential of 10 to 15 percent for the region," said Crans-Montana Tourism Director Bruno Huggler in an interview with the news agency AWP on Tuesday on the fringes of a media conference. This forecast covers the entire annual turnover, with a particular focus on the previously less important fall season. To date, the region has generated around 60 percent of its revenue in winter and 40 percent in summer.
In order to attract people to the region away from ski tourism, the tourism representative emphasized the versatility of the region. It offers various sports such as golf, trail running, wakeboarding and mountain biking.
Up to a fifth of apartments on Airbnb
While the upcoming World Ski Championships in 2027 have led to more investment in the luxury segment - the opening of a Hyatt hotel is planned for the end of 2024, for example - the region is trying to shed its image as a second-home location with blocks from the 1960s and 1970s.
It is true that some residential properties have stood empty in recent decades. However, since the pandemic, these have been used more and renovated.
There is also an increasing trend towards Airbnb rentals. "An estimated 15 to 20 percent of second homes are currently advertised on Airbnb," says Huggler. This is stimulating the region.
Vail Resorts expects growth
Finally, the local tourism association is also hoping for growth opportunities through the takeover by the US ski resort operator Vail Resorts. So far, the proportion of American tourists in the area has only amounted to 3 percent. According to the tourism director, this should change with the integration of the ski resort into the "Epic Pass" for the 2024/2025 ski season. Currently, 80 percent of guests come from Switzerland, mainly from French-speaking Switzerland.
Vail Resorts recently announced the acquisition of a majority stake in the Crans-Montana mountain railroads, including the associated restaurants and one of the ski schools. The US ski resort operator estimates the value of the resort at around 118.5 million Swiss francs.
Investments of around CHF 30 million are also planned over the next five years. In the first full year of operation after the expected completion of the takeover, i.e. at the end of July 2025, the US company expects an operating profit before depreciation and amortization (EBITDA) of around CHF 5 million in Crans-Montana. In the medium term, the resort should achieve an annual EBITDA of over CHF 15 million.
Good experiences in Andermatt
The year before, Vail Resorts had already taken over the management of the Andermatt-Sedrun destination. The American winter sports giant paid 149 million Swiss francs to purchase a 55% stake in the Andermatt Swiss Alps (ASA) subsidiary, which is owned by Egyptian businessman Samih Sawiris.
In this region, the experience with Vail Resorts has been good so far: the company brings a lot of know-how and invests in the offer for guests and the further development of the destination. It also "respects the local conditions", said a spokesperson for Andermatt Swiss Alps when asked by the news agency AWP.
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