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Tag: Andermatt Swiss Alps Gruppe

  • Andermatt Swiss Alps invests another 500 million Swiss francs

    Andermatt Swiss Alps invests another 500 million Swiss francs

    The Andermatt Swiss Alps Group posted a net profit of CHF 34.3 million in the 2022 business year, the company responsible for the development, realisation and operation of the holiday destination informs in a statement. A significant increase in property sales and a one-off effect from the entry of Vail Resorts into Andermatt-Sedrun Sport AG contributed to this. In the previous year, a loss of 8.0 million Swiss francs had been incurred.

    “The fact that we were able to post a profit for the first time, including the one-off gain from the transaction with Vail Resorts, Inc. is a milestone for the Andermatt Swiss Alps Group,” CEO Raphael Krucker is quoted as saying in the statement. “We are confident that the Andermatt Swiss Alps Group is optimally positioned and will continue to develop positively in the future.”

    So far, the group has invested a total of around CHF 1.4 billion in the destination. Now, further investments of around 500 million Swiss francs are planned. This year, Swiss Andermatt Alps will start the construction of six new apartment buildings. In addition, initial work is planned for a new lifestyle and sports hotel. In the Andermatt Reuss part of the village, a new shopping and gastronomy zone is to be built by the end of next year.

  • Andermatt Swiss Alps is growing at double-digit rates

    Andermatt Swiss Alps is growing at double-digit rates

    In the 2021 financial year, the Andermatt Swiss Alps Group generated sales totaling CHF 201.1 million, according to the company responsible for the development, realization and operation of the holiday destination . In a year-on-year comparison, this corresponds to growth of 30 percent. The operating result at the EBITDA level increased by around CHF 20 million to CHF 25.3 million in the same period. A loss of CHF 8.0 million was reported as a net result. The Andermatt Swiss Alps Group writes that the result from the previous year was improved by CHF 24.4 million.

    “It is very gratifying that we were able to massively increase our sales and profitability in 2021,” said Group CEO Raphael Krucker in the statement. On the one hand, real estate sales worth CHF 122 million, up 58 percent year-on-year, contributed to the positive developments. On the other hand, the two hotels in the group, The Chedi Andermatt and Radisson Blu Reussen, reported a positive operating result for the first time due to the increase in sales and occupancy as well as the reduction in costs.

    The SkiArena Andermatt-Sedrun, on the other hand, continued to suffer from the consequences of the pandemic in the winter season and from the bad weather in the summer, the statement explains further. Specifically, Andermatt-Sedrun Sport AG’s sales of CHF 21.6 million were around 10 percent lower than in the previous year.

  • Andermatt Swiss Alps remains on the road to success

    Andermatt Swiss Alps remains on the road to success

    Between January and October 2020, the Andermatt Swiss Alps Group was able to sell properties worth more than 85 million francs, the company responsible for the development, realization and operation of the holiday destination informs in a message . In a year-on-year comparison, this corresponds to growth of 28 percent. The number of visitors to the SkiArena Andermatt-Sedrun and the Andermatt Golf Course during summer operations increased by 12 and 50 percent respectively compared to the previous year. This means that the group has continued its positive business development from the first half of 2020, according to the announcement.

    The Hotel The Chedi Andermatt was also able to book significantly more overnight stays in the first ten months of 2020 than in the previous year, the Andermatt Swiss Alps Group continues in the message. Specifically, "the historically highest occupancy rate" of 68 percent was achieved. In the same period of the previous year, the hotel The Chedi Andermatt had an occupancy rate of 53 percent.

    As of October 31, skiing on the Gemsstock started due to the pandemic with a corresponding plan of action, is further explained in the communication. The canton of Uri has certified the operators safe operation, writes the Andermatt Swiss Alps Group. On the first two weekends of the winter season, the ski operation on the Gemsstock was sold out with around 1000 guests a day.