Andermatt Swiss Alps AG (ASA) sold properties worth CHF 76.9 million in the 2020 financial year. This corresponds to an increase of around 25 percent compared to the previous year and the highest level since the establishment of the ASA. The two hotels The Chedi Andermatt and Radisson Blu Reussen also achieved their best results in their history. As a result, Andermatt Swiss Alps achieved positive EBITDA for the first time in its history.
The Andermatt Swiss Alps Group recorded sales of CHF 154.2 million in the 2020 financial year (- 8 percent compared to the previous year). The decline in sales was mainly caused by the corona effects at the SkiArena Andermatt-Sedrun. Nevertheless, EBITDA (earnings before depreciation, interest and taxes) was positive for the first time at CHF 5.4 million. This is due to the higher occupancy of the hotels, increased efficiency and better yield management in all business areas. From the start of the project in 2007 to the end of 2020, a total of over CHF 1.2 billion has been invested.
Real estate sales in 2020 amounted to CHF 76.9 million (previous year CHF 61.6 million), which corresponds to an increase of around 25 percent. Demand has thus risen to a record level. The high demand is due in particular to the diversity and attractiveness of the offer. Most of the apartments in the Frame and Alma apartment buildings launched in summer 2020 were sold within a few weeks. The same applies to the Koya and Altera houses launched in March 2021.
At the end of the 2020 financial year, around 95 percent of all apartments in the completed and occupied apartment buildings had been sold. The average square meter price of the apartments sold in 2020 was CHF 13,905. Sales prices rose year on year in every real estate segment - studios, apartments and residences.
The Andermatt Swiss Alps Group with the hotels The Chedi Andermatt and Radisson Blu Reussen and the mountain railway company Andermatt-Sedrun Sport AG including the Swiss Snow Sports School employed more than 1000 people in 2020 - mainly in the cantons of Uri (Andermatt and Altdorf) and Graubünden (Sedrun) . On an annual average, the Andermatt Swiss Alps Group is the employer for 565 full-time positions.
Continued successful development at The Chedi Andermatt
The five-star deluxe hotel The Chedi Andermatt was open for almost eleven months in 2020 due to a corona-related closure. In 2020 it achieved a year-round occupancy rate of 69 percent (previous year 54 percent). Compared to the previous year, sales rose by around 16 percent to CHF 34.5 million (previous year CHF 29.8 million). The number of guests increased by a good 17 percent to 55,242 (previous year 47,029).
Various awards such as the highest rating of the Forbes Travel Guide and the Michelin star for the restaurant The Japanese by The Chedi Andermatt on the Gütsch prove the uniqueness of the hotel and the restaurants. The General Manager of The Chedi Andermatt, Jean-Yves Blatt, was named Hotelier of the Year 2020 by Gault Millau.
The Radisson Blu Reussen hotel was able to increase sales to CHF 10.9 million (almost 8 percent plus) despite the majority of the group and event business being absent. With 52,500 guests, the Radisson achieved an occupancy rate of around 37 percent.
Growth of the SkiArena Andermatt-Sedrun slowed
The 2019/2020 winter season of the SkiArena Andermatt-Sedrun ended abruptly on March 13, 2020. The result for the financial year running from October 1, 2019 to September 30, 2020 was clouded as a result, resulting in sales of CHF 24.5 million that were 8 percent lower than in the same period of the previous year. 000 first admissions. Without the prescribed closure, an increase of around 6 percent would have been recorded.
In winter 2020/2021 (October 1, 2020 to February 28, 2021), sales fell by 42 percent to CHF 11 as a result of the Covid restrictions (including the closure of the ski area between Christmas and New Year on the Uri side) compared to the same period of the previous year .4 million. The number of first-time entries fell by 33 percent to 249,000.
The Andermatt Golf Course recorded 50 percent more income from green fees in 2020.
Andermatt Swiss Alps worked on the repositioning in 2020 and renewed its market presence at all levels. With the strengthening of management (including IT, innovation, HR, town management), professionalization could be further advanced in various areas. The Covid pandemic has accelerated digitization. With the reservation system for the gondola lifts introduced in autumn 2020, Andermatt Swiss Alps is the leader in Switzerland.
An ambitious construction program started in spring 2021. It includes the expansion of the base building (podium) by around 19,000 m2. This enables the construction of a further 16 apartment houses, restaurants and shops. Construction has also started on two more houses and the third hotel. At the end of 2021, around 100 apartments in six completed houses will be handed over to the owners.