Revealed: Covid’s Impact on Ski Resorts
We look at the way in which ski resorts are evolving and how they’re gearing up for a winter season like no other
2 minutes to read
What we know:
- Most resorts were ordered to close on 15 March 2020 missing out on the traditionally lucrative Easter period.
- Refunds for holiday rentals were issued, ski lifts froze, and confinement measures took hold.
- Property agents adapted. From drone viewings to virtual tours and online notary signings, only around 5%-10% of sales were lost in the French Alps.
- Viewings were permitted in May and domestic demand strengthened.
- The rental market received a much-needed boost from staycationers over the summer with Swiss hotels close to full occupancy.
- The announcement that Switzerland was the world’s safest country post the pandemic only served to strengthen demand from nationalities within a driveable distance such as those from Benelux.
- Viewings and sales increased in July and August across the Three Valleys.
- Resorts such as Verbier and Villars-sur-Ollon saw residents from Geneva, Lausanne and Montreux relocate to their second homes as working from home became the norm.
- Throughout the pandemic sellers have stuck to asking prices and sales have largely progressed as normal.
What we expect:
- We expect last minute bookings in 2020/21 as holidaymakers wait to consider travel restrictions.
Rental demand may be strongest in smaller, less crowded resorts.
- Potentially weaker demand for shared chalets or hotels where social distancing can be challenging.
- Second home owners, many of whom missed out on their annual trip last season, will block book their weeks well in advance.
- Town councils will help boost local economies – Chamonix has put aside €300,000 to tempt tourists to try new activities for free e.g. paragliding, white water rafting etc.
- With winter approaching, some wealthy Europeans who would usually head to South Africa, the Caribbean or Australia are considering a long-term stay in the Alps instead.
- More schools will follow in the footsteps of Verbier International School and offer new winter term only enrolment options.
- The increase in online property viewings in the Three Valleys between Mar and Sep 2020
Read the report in full here
For further information please contact Kate Everett-Allen