The way is clear for the multi-million deal in Graubünden: After Laax and Falera, Flims has also approved the purchase of the mountain railroads and other facilities of the Weisse Arena Group (WAG). With a clear yes vote of 85.5 percent, the people of Flims said yes to the takeover of the ski resort's tourism infrastructure at the ballot box on Sunday. With a voter turnout of 67.7 percent,

Reto Gurtner, who has made the Flims Laax ski area what it is today and who has also done a lot for the bike infrastructure, himself campaigned for the sale of his life's work to the three municipalities. In an interview with the Tages-Anzeiger in September, he explained that selling "such a gem" to an international investor would not be a problem and listed four companies that are growing and should therefore be interested. In the next breath, he then said that concrete sales negotiations were unconfirmed rumors.

After the first version of this report was published, the Weisse Arena Group also brought this up in an email to the author. There had never been any talk of a sale abroad being the alternative to a takeover by the three municipalities. However, the Weisse Arena Gruppe itself contributed to the fear of foreign masters remaining acute: "In order to protect the facilities on the mountain of Weisse Arena Bergbahnen AG, a subsidiary of the Weisse Arena Gruppe in Laax, from a possible sale to foreign investors, they are to be sold to the local Finanz Infra AG," says the company's media release of September 24, 2025.

In recent years, numerous media representatives have gathered evidence that Vail Resorts, for example, which owns 42 ski resorts worldwide and already owns Andermatt-Sedrun-Disentis and Crans Montana in Switzerland, is also after the Weisse Arena.

Tourist infrastructure now belongs to the municipalities

For a total of 94.5 million francs, the entire infrastructure of the subsidiary Weisse Arena Bergbahnen AG will go to Finanz Infra AG, which has owned the snowmaking facilities since 2005. Flims and Laax are each contributing CHF 20 million, the smaller Falera CHF 10 million. The municipalities guarantee the remaining CHF 45 million. However, Flims is only transferring 2 million francs because it will be credited with 18 million francs that it paid for the construction of the FlemXpress cable car. 

The three municipalities now own 29 mountain railroads, various mountain restaurants, operating buildings, 224 kilometers of ski slopes with everything needed to operate them and 330 kilometers of bike trails, among other things. An earlier version of this article stated that the hotels owned by WAG and the ski and bike school would also be taken over by Finanz Infra AG and thus by the three municipalities. This is not correct. These tangible assets, most of which are located in the villages down in the valley, will remain the property of Weisse Arena Gruppe.

The operational management will remain with WAG, which in return will pay an annual lease fee.

Opportunity with risk for Flims, Laax and Falera

For the people of Laax, Falera and Flims, the main priority was for the ski area to remain in local ownership. 400 jobs depend on it. As much as possible should remain as it has developed over the last 40 years under Reto Gurtner. As the Tages-Anzeiger writes, this also includes the local season ticket for adults at a price of 250 francs and 0 francs for children and young people. 

It is common practice in Switzerland for the public sector to invest in mountain sports infrastructure. As a rule, however, this only happens when the financial need is great and this is the only way to continue operations. The Weisse Arena is in a different position. Nevertheless, the 95 million investment represents a considerable risk for the three municipalities. For comparison: Flims, Laax and Falera have budgeted cumulative operating expenses of just under 65 million francs in 2025. However, if WAG continues to operate successfully, the investment by the three Graubünden municipalities could also pay off beyond the preservation of jobs and tourism value creation. 

Sources: Blick, Der Bund, SRF, Weisse Arena Gruppe AG