Andermatt: The Chedi significantly increases earnings
Andermatt Swiss Alps AG sees itself on course. In the 2015 financial year, properties were sold for more than CHF 110 million and The Chedi hotel increased its revenue by 28 percent. This was announced by the company on Thursday.
As Andermatt Swiss Alps AG (ASA) announced at a media conference, total sales in the 2015 financial year amounted to CHF 144.9 million. The segment "Real Estate, Construction and other Operations" contributed CHF 113.4 million. The financial year closed with a deficit of CHF 35.6 million. "Still in a build-up phase with high costs for infrastructures and completion of real estate," the company said.
The five-star deluxe hotel The Chedi Andermatt, which is open year-round, achieved a full-year occupancy rate of 40.3 percent in 2015, its second year of operation - up 7.5 percent from 2014, and revenue rose 28.2 percent. In the winter season now ending, The Chedi increased its occupancy rate to 47.3 percent despite a 25 percent increase in room supply, according to ASA data. Revenue in the current winter season increased by 34.7 percent to CHF 9.5 million compared to the 14/15 winter season.
In the year under review, the Chedi Residences and two apartment buildings were handed over to their owners. According to ASA, over 60 percent of all completed apartments in the apartment buildings have been sold. Around 55 percent of the apartments rented out throughout the year were occupied in summer and winter, while the average for the year as a whole was 42 percent.
The golf course of the tourist resort is to be officially opened in the summer, and construction is also due to start this year on two more new apartment buildings, Edelweiss and Wolf. These will be built in a partnership with Schmid Immobilien AG, a company based in Central Switzerland. A total of CHF 548 million has been invested in Andermatt so far.
Finally, in the SkiArena Andermatt-Sedrun, the opening of the second new chairlift, the one from the Oberalp Pass to the Calmut, is planned. In addition, depending on the progress of the approval process, construction of the new feeder gondola lift from Andermatt station via Nätschen to the Gütsch is scheduled to begin this year.
