THE ANDERMATT PROJECT

THE ANDERMATT PROJECT

THE BACKGROUND TO ANDERMATT
Andermatt is a Swiss resort, based in the heart of the Alps, near to the Gotthard pass between Northern Europe and Italy.

Once visited by the likes of Goethe and Queen Victoria, Andermatt more recently became known for its military barracks where many Swiss undertook national service.

The Swiss army in 2005 announced plans to reduce its presence in the town with the subsequent loss of income and prospects for the local populace.

In order to combat this decline, the Canton has embarked on a regeneration project to make Andermatt once again a top tourist destination.

THE WIDER DEVELOPMENT
The new development in Andermatt will be the largest of its kind in Switzerland.

One million sq/m of land, at least 5 hotels, 600 apartments, 100 villas, a world-class 18-hole golf course, alpine skiing, a tropical pool, an ice-rink, a sports centre and extensive retail facilities.

Orascom Hotels and Development (OHD) is the master developer of the resort through its local company AADC.

The resort will be developed into a premium Alpine destination with a year round tourist trade.

THE NEW BELLEVUE
The location of the Bellevue is in the old town, opposite the station on the site of the old Bellevue Hotel.

The Bellevue will be an apart-hotel, consisting of roughly 100 hotel rooms, 100 apartments, indoor/outdoor swimming pool, wellness/spa/fitness, 2 restaurants, bar/lounge, ski room and underground parking.

The construction, marketing and operation of the Bellevue will be jointly managed by a joint-venture company (The JV) compromising OHD and Waterford Investments AG (WIAG).

The Bellevue Hotel and apartments are projected to be completed by the end of 2010.

The Bellevue project will be the first development within the wider scheme.


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