As every year, Knight Frank and Savills have published their “Alpine/Mountain Property Report.” We have analyzed them for you and present a summary, complemented by our insights, in four chapters:

• The mountain real estate market facing climate change
• Investment opportunities in a sustainable and resilient future
• Growing international demand and its implications
• Villars-sur-Ollon’s position in the Alpine real estate market

This month, discover the second part of this analysis: Investment Opportunities in a Sustainable and Resilient Future.

In the Alpine sector, investments aimed at a sustainable and resilient future are increasingly focused on adapting to climate challenges and diversifying activities. The goal: to thrive, not just survive. Investments in infrastructure are necessary to allow visitors to make the most of the mountains, extend the lifespan of resort facilities, and create new experiences.

The success of multi-resorts mountain pass programs for greater financial stability

The Epic Pass program, launched by Vail Resorts in 2008, is a compelling example, offering unlimited access to ski resorts across several European countries, including Switzerland, France, Italy, and Austria. This ever-expanding economic model provides financial stability, which not only enhances the ability to welcome international tourists but also ensures more consistent revenue streams throughout the year. With anticipated revenues exceeding $900 million, Vail Resorts can better anticipate seasonal variations and invest in environmentally friendly infrastructure.

According to Martin Deburaux, Director of Télé Villars-Gryon-Diablerets, it is the same situation in Villars, as the Magic Pass operates on the same principle: sales are made in the spring. The Magic Pass clientele accounts for 60% of the customers in the Villars-Gryon-Diablerets area. Even though the revenue distribution from subscription sales depends on the actual number of customers using the ski lifts, it helps attract more visitors to the mountains in summer and, above all, allows for a more secure approach to the winter season.

The Magic Pass is enjoying growing success year after year: for its eighth edition in 2024–2025, the subscription attracted more than 197,152 people, an increase of 9.5% compared to the previous year. The network will expand with 17 new resorts next season, bringing the total to 97. “The growth in the German-speaking Swiss customer base is particularly notable, with sales increasing three times more than in the rest of the country,” Magic Pass announced in a press release on Sunday.

A third example of the success of this type of product is the Ikon Pass, a subscription that provides access to a vast network of ski resorts in North America and several destinations in Europe (including Zermatt Matterhorn and St. Moritz in Switzerland).

A positive impact on the hospitality industry

Ripple effects on the Swiss hospitality industry, which registered record figures in 2024, with 42.8 million overnight stays, representing a 2.6% increase compared to 2023. The rate of Swiss tourists remains stable (50%), while international tourism is growing, particularly from China (+46%) and India (+10%). According to Fred Ernand, CEO of Gérance Service, “We are seeing the same trend in Gérance Service’s sales, with growing interest from Asian countries and the arrival of an international Indian clientele. However, European demand is declining, with almost no more buyers from the United Kingdom and a significant drop in Belgian and Dutch buyers, who historically made up our largest clientele. Today, demand from French-speaking Switzerland continues to account for a good half of sales.”

Technology Supporting Resorts

These investments include construction projects adhering to strict environmental standards and initiatives aimed at ensuring access to resorts, particularly those at lower altitudes, throughout the year. Ski lifts, essential infrastructure for any mountain resort, are a necessary investment. Since the pandemic, each season has seen an increase in the delivery of new ski lifts: from 21 in the 2020-2021 season to 35 completed or planned for the 2024-2025 season.

This continuous growth in ski lift installations highlights the overall confidence in the sector.

Around Villars, investment opportunities are emerging with the development of cable links connecting the plains to the mountains, as well as better integration of certain neighborhoods into the public transport network (e.g., Télécabine de Barboleuse).

Enhancing the customer experience through innovative snowmaking technologies and expanding year-round tourism offerings—such as panoramic restaurants and bars—helps strengthen resorts’ resilience against climate uncertainties. Additionally, the inclusion of new resorts like Crans-Montana in the program attracts international investors, contributing to economic vitality and a commitment to a sustainable future for the Swiss Alps.

An Increasing Number of International Schools in Resorts

Finally, investments in international schools in mountain regions further support this diversification strategy. They attract expatriate families or those seeking a high quality of life while ensuring steady demand for regional services and infrastructure throughout the year. Villars has positioned itself strategically in this regard, hosting no fewer than six private and public schools.

Stay tuned for the next part of our summary next month, where we will analyze growing international demand and its implications.