Industry News
Jungholz ski area, Austria, will reopen under new ownership after filing for bankruptcy in June 2024, reports Meinbezirk.at. WMM AG, a German-based company, has acquired the family-friendly ski area, investing around €1.5 million ($1.65 million), and plans to revitalize it with affordable rates and features tailored to families.
The bankruptcy hit the area of Jungholz hard, as the municipality had taken ownership of the ski lifts in 2023 to save them. Despite investing €500,000 and guaranteeing debts, the operation struggled with mounting liabilities of €3.35 million and poor snow conditions during the 2023-24 season. Warm weather and rising energy costs forced the early closure of the winter season, leaving the community dealing with lost tourism revenue.
WMM AG plans to invest €300,000 to prepare for reopening in winter 2025-26. Its strategy includes maintaining existing infrastructure while introducing new features like a “magic carpet” lift for children and beginners. A digital ticketing system will streamline access, and affordable pricing aims to attract day visitors from nearby regions. In addition, summer biking trails will expand the resort’s appeal beyond skiing.
Jungholz Mayor Karina Konrad expressed relief at the acquisition: “For Jungholz, it is important that it continues now after the time of standstill.” Ski lifts have long been integral to local businesses that rely heavily on tourism. WMM AG also plans to build a 22-room hotel, further boosting the local economy and creating jobs.
Jungholz is an Alpine village and ski area located in Tyrol, Austria, though it can only be accessed via Bavaria, Germany, due to its status as a Tirolean exclave. Nestled in the Allgäu Alps, this picturesque town offers a family-friendly ski resort with six miles (10 kilometers) of easy and intermediate slopes, modern lifts, and dedicated children’s facilities like the “N’Ice Bear Kinderland.” Jungholz is also known for its tranquil atmosphere, surrounded by nature and free from through traffic, making it an ideal destination for outdoor enthusiasts year-round.
WMM AG, headquartered in Mindelheim, Germany, is a diversified company operating across modular construction, real estate, and hospitality industries. Known for its innovative approach, WMM AG manages over 100 hotels, offering affordable, well-designed accommodations with features like contactless check-in and self-sufficiency facilities.
