By the 1930s the town's income from tourism had seriously declined, and many of the Ursental's hotels were abandoned or changed use. The Grand Hotel Bellevue, which was built by the aristocratic Müller family from neighbouring Hospental (who at one time or another owned many other hotels nearby including the Hotel Furkablick and Hotel Furka Passhöhe - as well as hotels in Flüelen, Alpnachstad, Herisau and Neuchâtel) was converted in the 1970s into apartments, but by 1990 had been abandoned and was demolished with explosives. By the turn of the 21st century, as an alternative to the expensive skiing resorts in the Grisons (Graubünden) at St Moritz and Gstaad, Andermatt's fortunes again revived and the town has seen considerable expansion and is currently undergoing much speculative building.