Swiss Municipalities Buy Weisse Arena Ski Area To Ward Off Foreign Takeover

In a powerful affirmation of local control and regional identity, the citizens of three Swiss municipalities—Flims, Laax, and Falera—have voted overwhelmingly to jointly purchase the key infrastructure of the renowned Weisse Arena ski area, effectively blocking a potential takeover by foreign investors, including the reported interest of American ski giant Vail Resorts.

The sale of the tourist infrastructure on the mountain in the ski resort LAAX, Switzerland will go to the local municipalities of Flims, Laax and Falera. It was previously owned by the Weisse Arena Bergbahnen AG, which will lease back the infrastructure from the municipalities. This model marks a first in the Swiss ski industry.

Over four days, the three municipalities took part in an important referendum to obtain ownership of the Weisse Arena Bergbahnen AG’s tourist infrastructure in the ski resort LAAX in an effort to retain local ownership of the infrastructure amongst interest from international investors.

The vote took place on Thursday 23 October for Falera Municipal Assembly, Friday October 24 for Laax Municipal Assembly and Sunday 26 October for a Flims Ballot. All municipalities voted in confidence to group together and purchase its tourism infrastructure, thereby securing regional interest."

By purchasing the tourist infrastructure on the mountain, including the lifts, mountain restaurants, operating buildings and avalanche protection systems, the community will retain strategic input, ensuring the infrastructure is operated long term in the overall best interest of the region.

The municipalities and Weisse Arena Group, which is the parent company of Weisse Arena Bergbahnen AG, have agreed to a ‘sell and lease back’ model meaning the municipalities will own the infrastructure, while management of operations will remain with the Weisse Arena Group. This aligns with the operation of the snowmaking systems which have operated until this model for the past 20 years.

The decisive votes, which took place in separate municipal assemblies and ballots last week, approved the plan for the three communities to acquire the mountain's essential tourist facilities for CHF 94.5 million. The infrastructure, including lifts, mountain restaurants, and snowmaking systems, will be transferred to a municipally-owned financial vehicle, Finanz Infra AG, and then leased back to the current operator, Weisse Arena Bergbahnen AG.

The move is a strategic "sell-and-lease-back" transaction designed to secure the long-term future of the Flims Laax Falera resort, one of Switzerland’s largest and most famous destinations, in local hands.

Protecting "Systemically Important" Infrastructure

The acquisition comes amidst a recent trend of American companies, notably Vail Resorts, investing in and acquiring control of Swiss Alpine resorts like Andermatt-Sedrun-Disentis and Crans-Montana. Local leaders framed the purchase as a necessary defense of the region's "systemically important" tourism infrastructure.

In a statement Mr. Reto Gurtner, Chairman and Delegate of the Board of Directors for Weisse Arena Group said 

“The acceptance of the proposal by all three municipalities is a sign of confidence in the long-standing cooperation between the local community and the Weisse Arena Group. This agreement paves the way for keeping the mountain’s tourism infrastructure under local ownership and thereby strengthening tourism in our region while maintaining our agency, identity and values.

“The acceptance is also a conclusion that the long-term development of tourism will successfully continue as our companies, municipalities and residents all work together. We are confident that there is no entity who can manage this region better than the local communities, and we look forward to continuing our efforts in promoting tourism in the region while protecting the interests of our residents and environment.”

"The clarity of this vote shows our residents are united behind a shared vision for the region's tourism future," said Laax Mayor Franz Gschwend, following his municipality's approval."

Falera Mayor Norbert Good called the decision a "historical step" in Swiss mountain railway history, emphasizing the regional importance of preventing the infrastructure from falling into the hands of outside investors whose primary focus might not align with local interests.

Overwhelming support: Voter turnout and approval were exceptionally high:

• Falera: 93.2% in favor
• Laax: 93.2% in favor
• Flims: 85.5% in favor

The Financial Breakdown

The municipalities will co-finance the purchase with a total contribution of CHF 50 million. This includes:

• Laax: CHF 20 million
• Falera: CHF 10 million
• Flims: CHF 2 million in new funds, plus CHF 18 million already invested in the FlemXpress cable car.

The remaining balance will be covered by a loan from Weisse Arena Bergbahnen AG and borrowed capital from the municipal entity.

Under the lease agreement, Weisse Arena Bergbahnen AG will continue to operate the resort, covering all operating costs, depreciation, and future upgrades, while guaranteeing a minimum of 300 operating days per year and continued discounted rates for local residents. The successful partnership model, which has been in place for two decades for the snowmaking facilities, is now being extended to the entire mountain infrastructure.

The deal is expected to be finalized before the end of the year, ensuring that one of Switzerland's premier ski destinations remains under the stewardship of its local communities.