In the Alps, Andermatt is seeing a surge in attention, transforming from a mere Bond location to a highly-discussed ski resort.
Andermatt Transformed: A Swiss Alpine Destination's Metamorphosis
The picturesque Swiss village of Andermatt has undergone a remarkable transformation in recent years, thanks to the vision and investment of Egyptian businessman Samih Sawiris.
Sawiris, through his majority ownership (51%) of Andermatt Swiss Alps (ASA), has been instrumental in spearheading a large-scale luxury resort project that has revitalised the once strategic military base into a vibrant year-round destination.
The development has turned Andermatt into a cosmopolitan hub, blending authentic Swiss charm with luxury lifestyle offerings such as skiing, high-end dining, and outdoor adventures, attracting a global clientele.
One of the most significant impacts of this project has been the boom in luxury real estate. The influx of foreign investment has driven property values upward substantially, positioning Andermatt among the high-end Swiss ski resort market. Property prices in Andermatt have doubled since the opening of the luxury hotel, The Chedi.
The initiative has also upgraded the village infrastructure to support this luxury tourism and residential development. Improved year-round accessibility, enhanced hospitality offerings, and a more cosmopolitan urban environment are just some of the benefits that have modernised the area beyond its former military base function.
Notable additions include the opening of The Chedi, a luxury hotel designed by Jean-Michel Gathy, which brought Michelin-starred dining and a world-class spa to Andermatt. The hotel's Japanese restaurant offers lunch at £135 with panoramic views. Another significant development is the Radisson Blu, a four-star hotel that opened in 2018.
Vail Resorts Inc, an American giant that owns and operates more than 40 mountain resorts, acquired a majority stake in the ski areas of Andermatt in 2022. This move has further boosted the resort's profile and promises significant investment in the slopes and infrastructure, with a pledged £135 million.
However, the transformation has not been without controversy. Local complaints have been raised that the pass structure caters for wealthy international guests and reduces access for nearby residents. Additionally, the cost of living in Andermatt has increased since The Chedi opened.
Despite these concerns, many, including local business owners like Sacha Ercolani, the owner of Fondue-Burg in Hospental, and Marcel Wenger, the owner of Restaurant Adler, believe that Andermatt has retained its special personality despite growth.
Andermatt Swiss Alps and Orascom Development's decision to sell a majority stake of the ski areas to Vail Resorts Inc has ensured that this transformation continues, with the promise of even more exciting developments in the future.
[1] Andermatt Swiss Alps. (2023). History. https://www.andermatt-swissalps.ch/en/about-us/history/
[2] The Local Switzerland. (2022). Vail Resorts buys majority stake in Swiss ski resort Andermatt. https://www.thelocal.ch/20220302/vail-resorts-buys-majority-stake-in-swiss-ski-resort-andermatt
[3] Swiss Info. (2013). Luxury hotel opens in Andermatt. https://www.swissinfo.ch/eng/luxury-hotel-opens-in-andermatt/42737768
[4] The Telegraph. (2014). Andermatt: the Swiss resort that's the new St Moritz. https://www.telegraph.co.uk/travel/skiing/resorts/switzerland/articles/andermatt-the-swiss-resort-thats-the-new-st-moritz/
- The transformation of Andermatt, once a strategic military base, into a cosmopolitan hub blending Swiss charm with luxurious lifestyle offerings such as home-and-garden, sports, travel, and dining, has been facilitated by the large-scale luxury resort project spearheaded by Andermatt Swiss Alps (ASA).
- The growth of luxury real estate, attracting a global clientele, and the addition of upscale establishments like The Chedi with its Michelin-starred dining and spa, have established Andermatt as a destination that caters not only to sports enthusiasts but also to home-and-garden, travel, and lifestyle enthusiasts.
