Monaco’s luxury hospitality giant Monte-Carlo SBM has revealed its plans to acquire a hotel in the high-end skiing destination of Courchevel. The deal is likely to be completed before the end of the year. 

The desire to expand its dominance in luxury hospitality beyond the borders of Monaco has long been on the table at Monte-Carlo Société des Bains de Mer (SBM). Now that lofty goal looks set to become a reality, and the group has set its sights on a hotel complex in the famous Courchevel resort. 

It was announced on Thursday 13th July that SBM’s Luxembourg subsidiary, Monte-Carlo SBM International SARL, had signed an agreement committing to the acquisition of the Palace des Neiges hotel establishment in Courchevel 1850.  

Once a done deal, the five-star Palace des Neiges, found in the heart of the Jardin Alpin sector of the resort, will undergo on a massive renovation project to bring it into line with SBM’s award-winning collection of hotels in the Principality, which includes the likes of the Hôtel de Paris and the Hôtel Hermitage. 

“This acquisition is the translation of our desire to deploy new sources of growth beyond the Principality of Monaco, while retaining what makes up the DNA of our group,” says Président Délégué of SBM Stéphane Valeri. “In addition to reaching a new target clientele, the future operation will allow our group to be able to develop its seasonality and give new opportunities to our employees throughout the year. It is a matter of writing a new page in the history of our company, in a high place of international luxury.” 

According to a press statement, the sale will hopefully be concluded by the end of 2023. The financial details of the deal have not yet been publicly disclosed, but more information is expected to be released after the conclusion of the summer season. 

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Photo source: Palace des Neiges