On 3rd October, SBM President Stéphane Valeri will sign a deal to acquire property in the chic winter resort of Courchevel for an undisclosed sum. The former National Council president calls it his “most important” achievement to date within the group.
At a press conference on Wednesday 27th September at the Monte-Carlo Bay Hotel and Resort, Stéphane Valeri confirmed figures for the 2022/2023 financial year, revealed earlier in June, that the company had pulled in €667 million in turnover and achieved a record €72 million in profit.
It was also an opportunity for Stéphane Valeri, appointed head of the Société des Bains de Mer (SBM) in January, to highlight other projects being undertaken by the group.
Among them were SBM’s acquisition of the five-star ‘Palace des Neiges’ in one of the most prestigious winter resorts in Europe.
“On 3rd October, we will sign the purchase of this ‘snow palace’,” revealed Valeri. “It is the best located hotel in what they call the Jardin Alpin district, the first large hotel developed a few decades ago in Courchevel. It faces the forest and, behind it, it has all the palaces of the biggest named competitors we could have: LVMH, the chalet of Stéphane Courbit, a Xavier Niel hotel…
“But ours is first,” repeated Valeri. “We are very happy to be able to purchase the most beautiful location in the resort.”
Palace des Neiges
The hotel is located in a residential district, 600km from the ski slopes of the Three Vallées. Currently, it offers 78 guest rooms and suites.
According the Valeri, the hotel will operate its last winter season under the current ownership, before it undergoes a major renovation in the Spring of 2024.
To facilitate the acquisition and running of the hotel, the SBM Group approached the Vallat group, which has a “very advanced knowledge of the real estate market in the Northern Alps, and in particular in the Courchevel valley, where the family of Joffray Vallat, president of the group eponymous, has been installed for decades,” says the group.
The acquisition project, subject to generally applicable conditions, should be finalised in the coming days. Financial details have not been revealed.
Tackling the staff shortage
Acquiring winter properties is part of SBM’s International Development Policy. It is also an important part of the group’s strategy to retain staff year round.
On the same day that Stéphane Valeri is signing this property deal, the group will be holding a recruitment drive on 3rdOctober at One Monte-Carlo.
Photo source: SBM