Monte-Carlo Société des Bains de Mer (S.B.M.) group, led by Chairman and CEO Stéphane Valeri, has announced the acquisition of Palace des Neiges in France’s Courchevel 1850.
The acquisition of the luxury hotel is part of the strategy undertaken after Valeri assumed the role of chairman and CEO of the Monte-Carlo S.B.M. group. The strategy thus gets underway in the French Alps resort situated in the Jardin Alpin district. This acquisition also marks the initiation of a major renovation project.
To identify the property and provide optimal support throughout this specific mountain acquisition, Monte-Carlo S.B.M. group approached the Vallat group which shares the enthusiasm to develop a luxury hotel project.
The Vallat group has in-depth knowledge of the real estate market in the Northern Alps, particularly in the Courchevel Valley, where the family of Joffray Vallat, the group’s president, has lived for decades.
The Palace des Neiges will continue to be operated throughout the 2023/24 winter season by the Alp’Azur group. Renovations will begin in April 2024.
Valeri said, “It is a great satisfaction for our group to succeed for the first time in its history in finalizing an international hotel acquisition project, which moreover is next to some of the biggest names in luxury hotels in the Alps. The future renovated establishment will be a new growth relay for us, with complementary seasonal human resources.”
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