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18 million Euros for Les Houches ski-resort take-over

On 19 January, the Les Houches-St Gervais lift syndicate took the decision to cancel all the Les Houches ski area concessions. The syndicate wanted to end the ongoing unrest between the companies responsible for operating the chairlifts, the cable cars and the gondolas. A procedure was then started to find a single operator. Still, the previous concessionaires will require compensation for loss of use of the lifts, and the sums involved are significant. The "LHSG" concession will receive 10.7 million euros, while the "SEPP" will be compensated to the tune of 7.2 million euros. This 18 million euros will not, though, come directly from the syndicate, it will come from the "entry fee" of the sole buyer of the "Les Houches-St Gervais" licence. The buyer will be appointed in mid-October, with operations starting on the 1st of December.

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