Snow for the Euros.

[Rossymcg]

some look like they're miles away high up on another elevation. I'm a bit of a mong in real life please make allowances for stupidity.

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[m2711c]

[skaredshtles]

[AKAnderson]

Rumor ‘round Verbier is that Vail is getting close to an acquisition…

[Mulletizer]

Bit more than a rumour, it’s been widely reported in the Swiss press. The lack of comment from either Vail Resorts or Televerbier suggests there’s truth to it.

[subtle plague]

As long as they keep their hands off my favorites it's all good. I was not happy about andermatt.
They can buy verbier Chamonix and Anton all they like and flood it with American destination tourists.

[Mr. Mike]

What is the Austrian equivalent of rega?

[beer30]

What is the Austrian equivalent of rega?

Bergrettung Tirol

[Buster Highmen]

Bit more than a rumour, it’s been widely reported in the Swiss press. The lack of comment from either Vail Resorts or Televerbier suggests there’s truth to it.

Sad to say, but it is somehow fitting.

[Rossymcg]

As long as they keep their hands off my favorites it's all good. I was not happy about andermatt.
They can buy verbier Chamonix and Anton all they like and flood it with American destination tourists.

val disere also

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[bobinch]

Not a great sign but the Jedi resistance is mobilizing

[twat]

What is the Austrian equivalent of rega?

Mountain insurance?
Alpinclub membership.
Alpenverein.at
https://www.alpenverein.at/portal/se...p-benefits.php

[bobinch]

In better news it looks like it’s dumping next weekend and winter temps are back

[enlosandes]

Bit more than a rumour, it’s been widely reported in the Swiss press. The lack of comment from either Vail Resorts or Televerbier suggests there’s truth to it.

I just threw up a little in my mouth

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[AKAnderson]

Not a great sign but the Jedi resistance is mobilizing

I had a look at that yesterday afternoon which made me believe the end is near…

[bobinch]

The possible takeover of Téléverbier SA by Vail Resorts

The facts

Last December, Vail Resorts announced the acquisition of the Crans-
Montana ski lifts. This transaction followed the takeover of 55% of the company operating the Andermatt-Sedrun
Andermatt-Sedrun in the summer of 2022.
Vail Resorts is also very likely to be interested in taking control of Téléverbier.
Their commercial strategy is to offer a 'multi-resort' annual pass, like the Magic Pass.
like the Magic Pass.
As for Téléverbier, the Burrus family is the main shareholder, holding between 40% and 55% of the capital.
of the capital. It is likely that they will also want to sell their shareholding in the short to medium term.
medium term.
The timing of such a takeover of TVSA by Vail Resorts could happen at very short notice.
two representatives of the Burrus family, together with Jean-Albert Ferrez, Chairman of the
Board of Directors, and Laurent Vaucher, CEO, have just spent a week in Vail.
Vail in January 2024.
If TVSA were to be taken over by Vail Resorts, it would be for the long term.
ownership of TVSA by Vail could last for decades. So the stakes are high!

For or against

The question now is whether such a takeover of Téléverbier by an American group is
appropriate. One advantage is certainly that Vail Resorts is the world's largest ski lift operator.
operator of ski lifts in the world, with 41 resorts to its name, mainly in the
United States. It is therefore a true industry professional. On the other hand, like any professionally run company
professionally managed company, Vail Resorts aims to maximise its profits;
in particular by bringing as many skiers as possible to the ski area and by pushing far
diversification, for example by operating a large number of restaurants, sports shops and a
sports shops and a ski school.
Téléverbier is the backbone of Verbier's tourism offering, and both the resort and the municipality depend on tourism for their livelihood.
and the municipality depend on tourism for their livelihood. In these circumstances, is it wise to entrust a foreign company with
pursuing its own objectives, the task of exploiting what has made the resort so successful and renowned?
reputation of the resort? Is there not a risk that sooner or later there will be conflicts of interest
between the ski lift operator on the one hand, and the municipality and its residents,
and secondary residents?

Estimated purchase price of Téléverbier SA

Vail Resorts bought the Crans Montana ski lift company for almost 9 x
the anticipated EBITDA in 5 years. Vail Resorts now has a market capitalisation of CHF
7.4 billion, compared with EBITDA of CHF 725 million in the 2022-23 financial year, i.e. a multiple
of 10. By way of comparison, Téléverbier's capitalisation is CHF 64 million and EBITDA
in the 2021-2022 financial year of CHF 21.7 million, excluding state aid due to covid; hence a
multiple of nearly 3x. With a valuation multiple more than three times that of Téléverbier
than Téléverbier's, Vail Resorts should be prepared to offer up to 3x Téléverbier's current market value.
Téléverbier, i.e. an amount of almost CHF 200 million.

Future ownership of Téléverbier

Perhaps Christian Burrus and his family will have the courtesy to request an offer from the municipality
once Vail Resorts has submitted its offer. As a first step, the municipality could
acquire this package of shares and, at the same time, launch a regulatory takeover bid. At
25.86% of the shares already held by the commune and the bourgeoisie, Val de Bagnes should therefore
Val de Bagnes to raise around CHF 150 million. The Commune has the means to carry out
such an operation. However, it will only do so if it has the assurance of being able to
resell all, or a large proportion, of the shares acquired to private individuals.
To this end, it is now necessary to find residents willing to invest in the purchase of Téléverbier shares.
Téléverbier shares. Given the value of the resort's real estate holdings, estimated at CHF 10 to 12 billion, this should be a gamble worth taking. We therefore imagine that residents, in particular
second homes worth several million, might be prepared to invest a sum of
willing to invest CHF 1 to 3 million for emotional reasons, but also because of their attachment to Verbier,
attachment to Verbier and, at the same time, to protect the value of their property.
property assets. In spirit, such an investment is more akin to patronage than to
a financial investment designed to provide a return.

Process

Some of us believe that Téléverbier SA should remain in "local hands". And
first, we are trying to identify residents who are interested in participating in such a rescue.
rescue. Our primary goal is to raise the sum of CHF 150 million with the help of a hundred or so people.
hundred people. Once we've identified a circle of potential investors, we'll then need to define a modus operandi.
then define a modus operandi with the municipality and, at the same time, prepare a shareholders' agreement.
shareholder agreement. Time is of the essence!

[bobinch]

https://www.apcav.ch/en/communique-d...rche-de-fonds/

[subtle plague]

I'd like to invest 1-3 Million for emotional reasons. Those poor second home owners. We have to protect them from the evil Corporation

[twat]

[Rossymcg]

I'd like to invest 1-3 Million for emotional reasons. Those poor second home owners. We have to protect them from the evil Corporation

capitalist 2nd ski resort home owners getting bummed by a capitalist venture company. Got to love capitalism for all its faces

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[subtle plague]

capitalist 2nd ski resort home owners getting bummed by a capitalist venture company. Got to love capitalism for all its faces

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It's especially funny since they only Adress people "with homes worth several million". I'm sure they're the backbone of the local community


I really enjoy the rich NIMBY entitlement.

[Mulletizer]

I just threw up a little in my mouth

Much as I did when I saw this ski-in boutique at the foot of the pistes last year (thankfully no longer there). At the time I joked that it was becoming Vailbier. Bit too close to the truth, as it turns out.



One thing I will say about Verbier becoming dominated by the super-rich: it's got a lot easier to score first tracks than used to be the case.

[Rossymcg]

has vail funked up Amatt with that buy out?

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[Buster Highmen]

https://charts.ecmwf.int/products/me...e=202402190600

[subtle plague]

has vail funked up Amatt with that buy out?

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Well. "Dynamic pricing" Was introduced by our friendly Egyptian investor Sawiri so we had that corporate "fuck you" before.
I haven't sampled crowds in the last two years because the snow sucked 21/22 22/23 and skied I elsewhere this year so I can't compare.