Released on: December 29, 2007, 12:13 pm

Press Release Author: Investors in overseas property may have felt somewhat negative
about the prospects for Alpine ski resorts after last winter. The unusually mild
season left many resorts despairing as slopes that would normally be filled with
skiers were brown.

Industry: Real Estate

Press Release Summary: Investors in overseas property may have felt somewhat
negative about the prospects for Alpine ski resorts after last winter. The unusually
mild season left many resorts despairing as slopes that would normally be filled
with skiers were brown.

Press Release Body: Investors in overseas property may have felt somewhat negative
about the prospects for Alpine ski resorts after last winter. The unusually mild
season left many resorts despairing as slopes that would normally be filled with
skiers were brown, muddy wastelands with barely a flake of snow.

The bad winter suffered by resorts, particularly those at lower levels, led many to
wonder what future there was in a world beset by global warming. Earlier this week
Deutsche Welle reported that The Swiss ski area of Bernese Oberland expects to lose
around €40 million (£29 million) a year due to a 1.8 per cent temperature rise by
2030 as the snow cover lessens. At first glance, it may seem unwise to invest in ski
property, with the prospect that nobody wants to rent it because there isn\'t enough
snow.

Yet there are many advantages to being lower down, Ski property broker Free Spirit
International has suggested. Director Andrew Beale said the key was that higher
resorts did not have a summer season and investors should consider the potential
benefits to tourists who don\'t just visit for the winter sports.

He stated: \"You will find that a lot of resorts, slightly lower down - for example,
resorts like Chamonix - are busier during the summer than they are in the winter,
because it is a centre for mountain biking, walking, climbing and other summer
pursuits.\"

\"You don\'t necessarily look high for an all round rental vehicle; you look at a
resort which has a summer season and a good summer season, as well as a winter
season,\" he added.

This, of course, is a form of diversification which may form an increasing part of
the future tourism scene in the Alps if global warming does its worst and ensures
the only ski slopes are dry ones. Such adjustment has already taken place closer to
home. In Scotland the Nevis Range resort, apart from keeping its cable cars running
in the summer to give Munro-baggers a head start up Aonach Mor, also has a world
championship mountain biking track. Plans are afoot to do the same at Glen Shee in
the Cairngorms.

In a press release today the Association of British Travel Insurers noted that the
3.5 million Britons heading overseas for the Christmas and New Year season included
many who were off to the Alps, where this year\'s early snowfall has been good. Some,
of course, may see last year as a blip. Others are still sceptical about global
warming in any case. But for Mr Beale, the possible threat has not stopped the
investors coming forth.

\"We have noticed no diminishing demand,\" he said. \"In fact, we are busier than ever.\"

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investment in UK

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