Polskie Koleje Linowe

In September 2013, MidEuropa acquired Polskie Koleje Linowe (PKL), the largest mountain tourism operator in Poland with seven sites, including two flagship assets in Zakopane, Poland’s most popular tourist destination. In addition, MidEuropa acquired a majority stake in Jaworzyna Krynicka, an add-on to PKL. MidEuropa acquired the assets in a privatisation by devising a unique angle involving four local municipalities, giving it a strong competitive advantage. 

Mountain tourism is an attractive market owing to its cross-season appeal, while PKL itself benefitted from well-invested infrastructure and a dominant market position. As a former non-core asset of a state rail operator, there was substantial scope to improve the business. 

Following a five-year partnership which saw strong execution of the agreed plans, MidEuropa sold its stake in PKL to the Polish Development Fund (PFR) in December 2018.

Partnership highlights:

• Improved commercial offering and shifted towards a service-oriented business model operating as an all-year tourist attraction
• Digital transformation: optimised sales channels, ticketing and IT systems
• Implemented a new pricing strategy
• Diversified revenue stream through broadening and improving current service offering (e.g. restaurants, ski schools)
• Acquired and integrated Jaworzyna ski-lift operations
• Strengthened management team (new CEO, CFO and CCO)
• Developed new growth projects to increase attractiveness of the asset

Value creation:

• Operational Excellence
• Digitalisation