Snow-Challenged Swiss Ski Resort Sells for $1

There aren’t many things you can buy for less than $1 these days, but it turns out a ski resort in Switzerland is one of them.

The Swiss town of Ernen became desperate when their low-altitude ski resort failed to accumulate much snow or many tourists this year. (Global warming is a major threat to ski resorts in the Alps — especially those at lower altitudes. Many of these resorts are in small towns that rely on ski tourism for capital. But tourists are flocking to the snow and amenities offered at the more exclusive, high-altitude resorts. The little guys just can’t compete.)

Ernen knew they had to get creative if they wanted to save their town. So they sold the Ernen Ski-Lift Company to this lucky entrepreneur for less than one Swiss franc (about $.90). He gets four chairlifts, two trail groomers, a restaurant, and 12 gorgeous miles of ski slope.

What does one do with a snow-deprived ski resort you ask? You invest in it, that’s what. Bruno Prior is an investor/entrepreneur from Britain and his plan to revitalize the resort and stimulate the local economy won over the small town of 560. With an investment of $45 million, Prior wants to move the runs higher up the mountain, build new lifts and add a hotel and restaurants. He might just put Ernen back on the Swiss ski resort map.

Not a bad deal for a buck.

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