Société des Bains de Mer to acquire hotel in Courchevel
SBM plans to establish itself in Courchevel by acquiring a luxury hotel - © Palace des Neiges
The prestigious winter resort hotel will be completely refurbished.
The project was mentioned in Stéphane Valeri’s first speech since his appointment at the head of the SBM in May, and is now official. As part of the strategy initiated by the Group’s new Chairman and CEO, the Luxembourg-registered subsidiary Monte-Carlo SBM International S.A.R.L has signed an agreement, with assistance from the Vallat group, to acquire a hotel in the Northern Alps.
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Located in the Jardin Alpin sector of Courchevel to be precise, this luxury establishment joins the list of SBM’s prestigious hotels. The Palace des Neiges, a 5-star hotel and spa, will undergo a major refurbishment.
The acquisition is expected to be completed before the end of the first half of the 2023/2024 financial year, according to SBM. “This acquisition reflects our desire to deploy new growth drivers beyond the Principality of Monaco, while preserving the Group’s DNA, with the support of the new international development department,” said Stéphane Valeri. “As well as reaching a new target customer base, the future establishment will enable our group to extend its operational season, giving our employees new prospects throughout the year. The aim is to write a new page in the history of our company in a key centre of international luxury.”