Market Comparison: Modern New Development Options In The Switzerland

The 119 rooms and suites in the 5-star hotel The Chedi Andermatt in Switzerland offer every conceivable comfort for your stay. 

September 17, 2019 - 6:22 p.m

Step by step, the Andermatt resort initiated by Samih Sawiris seems to be turning into profit. According to the Egyptian investor, the luxury hotel "The Chedi" will be in the black all year round for the first time in 2020.

Speaking to representatives of the tourism industry on Tuesday, Sawiris said that the strategy of leaving hotels open all year round, which is not exactly common in Swiss mountain resorts, is already paying off. "If things continue like this, we won't be in the red for a month at the Hotel Chedi next year," said Sawiris at an industry talk organized by the investor portal "Schweizeraktien.net" in Andermatt.

Sawiris criticized the lack of destination thinking in Switzerland. For fear that the other will get more than oneself, too little is tackled together in the tourist resorts, and too little consideration is given to the big picture, says Sawiris. It's different in Andermatt.

Khaled Bichara, the head of Orascom Development Holding, the group that holds almost half of Andermatt Swiss Alps, gave an example of this. The concert hall in Andermatt, which opened this summer with a concert by the Berlin Philharmonic, does not pay off as a single investment, says Bichara. But in the big picture, that is, for the Andermatt destination as a whole, the hall will have an impact and contribute to the profitability of the entire resort.

Still in the red

The Andermatt resort currently consists of two hotels and numerous apartment buildings. The merging and modernization of the Andermatt and Sedrun ski areas has also already been implemented. The next stage in the Andermatt resort will be the opening of a family hotel and six other apartment buildings.

In recent years, around one billion francs have been invested in tourism projects in Andermatt. Andermatt Swiss Alps AG, which develops and operates the Andermatt destination, is currently majority owned by Samih Sawiris privately. The listed Orascom Development Holding, which is also controlled by Sawiris, will again take over the majority of the Andermatter resort this year or next.