Swiss ski resort's bet on summer tourists, hikers and non-skiers pays off

Geneva

AFTER three snowless Christmases, some Swiss ski resorts are making more money in July than in December - and Hans Grueter doesn't have a problem with that.

Mr Grueter, a retired bank executive, owns almost 11 per cent of Bergbahnen Engelberg-Truebsee-Titlis AG, which operates one of Switzerland's few publicly traded ski resorts at the foot of 3,238 metre-high Mount Titlis.

Over the past 18 months, the stock has looked anything but a winning bet as profit was eroded by a strong Swiss franc, tighter visa restrictions on Chinese visitors and a lack of snow over the New Year. But Mr Grueter - who has a holiday chalet in the area - takes the long view, a strategy that has paid off as the stock has tripled si…