Vail Resorts, Inc has announced that it has entered into an agreement to acquire Crans-Montana Mountain Resort in Switzerland from CPI Property Group (“CPIPG”). Crans-Montana Mountain Resort spans over 1,400 meters (approximately 4,593 ft) of skiable vertical terrain, and 140 kilometers (approximately 87 mi) of trails. Accessible from five airports and by train, Crans-Montana Mountain Resort is located in the Valais canton of Switzerland, approximately two and a half hours from Geneva and less than four hours from Milan and Zurich. The resort is two and a half hours away from the company’s other owned and operated European resort in Andermatt-Sedrun.

Vail Resorts is ahead of schedule to meet its emissions goals, and is on track to reach zero waste to landfill and zero net operating impact on forests and habitat to achieve a zero net operating footprint by 2030.

Vail Resorts has announced that Executive Vice President and Chief Financial Officer Michael Barkin will be stepping down after nearly a decade in role to take time to pursue personal opportunities. Barkin’s resignation will be effective December 31, 2022, or such other date as mutually agreed upon based on the timing of appointing a successor and a transition.

The company, which owns and operates 37 ski resorts across North America, said $157 million in new cash would be used to improve wages, HR services, career development and benefits.

Vail Resorts has purchased Seven Springs Resort in Pennsylvania. As a part of the acquisition, the company will also acquire Hidden Valley Resort and the operations of Laurel Mountain Ski Area.

Merlin Entertainments has announced the sale of its Australian ski resorts, Hotham and Falls Creek, to Vail Resorts. The purchase price is A$174 million, roughly £95 million, and is subject to certain adjustments related to the timing of closing.