Jungholz Ski Area Acquired by German Company for $1.65 Million
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German Company Buys Bankrupt Austrian Ski Area
Jungholz ski area in Austria has been bought by WMM AG, a German company, for €1.5 million ($1.65 million). The ski area filed for bankruptcy in June 2024, and this acquisition ensures its reopening for the 2025-26 winter season. WMM AG plans to invest €300,000 in preparations, focusing on maintaining existing infrastructure and adding new features to attract families and day visitors.
The bankruptcy of Jungholz ski area had significant impacts on the local community. The municipality had taken ownership of the ski lifts in 2023 in an attempt to keep them operational, investing €500,000 and guaranteeing debts. However, the ski area struggled with €3.35 million in liabilities and poor snow conditions during the 2023-24 season. Warm weather and high energy costs forced an early closure, resulting in lost tourism revenue for the area.
WMM AG's plans for Jungholz include introducing a 'magic carpet' lift for children and beginners, implementing a digital ticketing system, and offering affordable pricing. The company also aims to develop summer biking trails to expand the resort's year-round appeal. Additionally, WMM AG intends to construct a 22-room hotel, which is expected to boost the local economy and create jobs.
Jungholz Mayor Karina Konrad expressed relief about the acquisition, highlighting the importance of the ski lifts to local businesses that rely on tourism. The ski area, located in Tyrol, Austria, is unique as it can only be accessed via Bavaria, Germany, due to its status as a Tirolean exclave.
Jungholz ski area offers 10 kilometres of easy and intermediate slopes, modern lifts, and dedicated children's facilities. The area is known for its peaceful atmosphere and natural surroundings, making it popular for outdoor activities throughout the year.
WMM AG, based in Mindelheim, Germany, operates in modular construction, real estate, and hospitality industries. The company manages over 100 hotels, known for affordable accommodations with modern features like contactless check-in. This acquisition marks their entry into ski resort management, with plans to apply their hospitality expertise to revitalise Jungholz as a family-friendly ski destination.