Andermatt, the valley of obstacles

Andermatt. The Egyptian tourism entrepreneur and immensely rich global player Samih Sawiris is toying with the idea of building a big resort in the Swiss mountain village of Andermatt in the northern Gotthard area. Last weekend, the 48 year-old entrepreneur personally informed the villagers about his ideas. Insiders know Sawiris as a local partner of Moevenpick Hotels in Egypt. It was only in October that the entrepreneur presented his mega resorts at the Expo Real property fair in Munich.

Andermatt. It was the next step for the major tourism project of the Egyptian Samih Sawiris in Andermatt. It can be realised in a spatial and environmentally compatible way, but without a helicopter port. This is the conclusion of the Swiss Federal Council. The voters of the communities affected will take the final decision. If everything runs as planned, construction will begin in early 2008.  

Andermatt. With his company Orascom Hotels & Development, Samih Sawiris has finally negotiated away the last pieces of land for his golf course from farmers in the Swiss mountain village of Andermatt. The Egyptian investor also presented a further investor for his gigantic Andermatt resort as part of his recent visit to the Canton of Uri.

Cairo/Zurich. The Orascom hotel group of the Egyptian entrepreneur Samih Sawiris, which is strongly engaged in the canton of Uri, will move its headquarters to Switzerland and will be listed on the Swiss stock exchange. With this move, the Egyptian entrepreneur backs up his gigantic tourism project in Andermatt.

Andermatt. The diggers are hard at work in the Ursen Valley. In the end, 1.5 million sq.m of fallow land will have been completely redeveloped. At the moment, only the mounds of earth indicate what the developer has in mind: In Andermatt in Switzerland, the outline of "Andermatt Swiss Alps" is slowly taking shape, the mega destination resort which the Egyptian Samih Sawiris will build from nothing by 2016. The plan is to attract tourists to this less popular part of Switzerland, located between Grisons and Valais with a whole new infrastructure. 850 hotel rooms, 490 apartments and at least 20 villas/holiday homes, a massive sport and leisure centre, congress hall, concert, golf and ski facilities are planned. The first million CHF villas and the first two buildings with condos have already been sold. And just a few weeks ago, Sawiris' own Orascom Development Holding AG began to advertise the holiday properties for sale in Great Britain, Germany, Austria and Italy. After all, the whole undertaking for the Egyptian developer is not a simple tourism project, but a hard, long-term property deal intended to bring huge capital gains. Sawiris' business model is quite unique in Europe, both in terms of geographical dimensions as well as detail of planning.

Andermatt. The mega investment by Orascom Development is now taking shape in Andermatt. Up to six new hotels, 490 apartments in 42 buildings and 25 luxury villas comprise a total investment of almost 1.5 billion Euro. Nevertheless, there were losses in 2012. These have now been covered by owner Samih O. Sawiris. He is now new majority shareholder and will cover the current cash deficit. With the move, Sawiris reaffirms his commitment to Andermatt.

Munich/Zurich. Recent years have shaken Samih Sawiris and his companies. But the Egyptian entrepreneur with headquarters in Switzerland and various projects in crisis-buffeted destinations remains with his long-term strategy. "One crisis would have been enough," he says looking back on the fallout from the Lehman bankruptcy in 2008, "but a second immediately in the aftermath?" Here he refers to the Egypt crisis which also hit the billion euro Orascom Hotel Development business. Meanwhile, he's streamlined certain projects and has brought third parties on board. At the same time, he strengthened distribution last year - with participations in the German tour operator FTI and the RT Group. With FTI, he aims to give a massive boost to hotel business - for the benefit of both sides. A very close partnership is in the making here. hospitalityInside.com met Samih Sawiris in February in Munich.

Andermatt. Eventful weeks in the Andermatt Swiss Alps: The foundation was laid for the Radisson Blu in September, the second hotel following the already opened luxury property, The Chedi Andermatt. And in the meantime, the groundbreaking for the fifth apartment house had taken place at the beginning of October. One thing is clear with the construction progress: Step by step, Samih Sawiris' vision of a new, year-round resort destination in Urserental is taking shape – in spite of all the gloomy predictions. The difference from previous activities: Co-investors are coming into play. In terms of status quo, this is also a spectacular as well as controversial project in the somewhat shaken Switzerland.

Andermatt. Egyptian-born investor Samih Sawiris has succeeded in building a new year-round destination in Andermatt, Switzerland. In Dieni on the other side of the Oberalp Pass, his company Andermatt Swiss Alps AG is now tackling a new village section with 417 hotel rooms and a total of 1,800 beds. Massive investments are on the way.