Monte-Carlo SBM has officially acquired the Palace des Neiges in Courchevel
Pascal Camia and Mathieu Baiardi signed the deal in the presence of Stéphane Valeri - © Monte-Carlo SBM
Renovation work will start next April.
It’s official! On 3 October, the Monte-Carlo Société des Bains de Mer (SBM) acquired the Palais des Neiges at Courchevel 1850.
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Stéphane Valeri, the Group’s Chairman and CEO, and Pascal Camia, its Director of International Development, met Mathieu Baiardi, Financial Director of Alp’Azur Hôtels, to conclude the transaction.
To ensure that the acquisition went as smoothly as possible, SBM approached the Vallat group, which has in-depth knowledge of the property market in the Northern Alps, particularly in the Courchevel valley. The family of Joffray Vallat, Chairman of the Group, has been in business there for decades.
SBM has therefore just purchased an institution in the heart of the winter sports resort, located in the “Jardin Alpin”. Major renovation work will begin in April 2024 to give the luxury palace a new lease of life, once the 2023/2024 winter season is over. Alp’Azur will continue to operate the hotel until the work begins.
It is a great source of satisfaction for our group to successfully finalise an international hotel acquisition project, for the first time in its history, and to do so alongside some of the biggest names in luxury hotels in the Alps. The new, restructured establishment will provide us with a new growth driver, and seasonal complementarity for our staff,” said Stéphane Valeri.
“I would like to thank all the teams who worked so professionally to bring this project to fruition. Now our aim is to provide a unique hotel, enabling us to transfer our expertise to somewhere that is highly prized by our clients and by those we want to attract to our group’s global offering,” added Pascal Camia.