SBM is undoubtedly the second most important owner in the country following the State,” Stéphane Valeri insisted to shareholders.Photo Jean-François Ottonello.
The presidency of Stéphane Valeri opened a new era in the governance of the SBM which led to an overhaul of the organization chart of the company’s missions and ambitions.
The executive committee, increased from six to ten members, welcomed seven new faces in a few months. “We are almost complete”underlines the deputy president, who is awaiting the arrival of the last member who will take charge of real estate development at the beginning of November.
This sector professional, who currently manages the promotion of a large real estate group in the Paris region, will arrive in the Principality in a few weeks. With what missions? “We must focus more on the group’s real estate development, on the programs to be developed, the sites to choose to meet the needs of the market, whether for commerce, offices or housing”, explains Stéphane Valeri. Highlighting that real estate through the rental of apartments, shops or offices is today “the third most profitable profession in the company”. Rents collected, leading to comfortable returns.
“Projects presented soon”
“The SBM is undoubtedly the second most important owner in the country following the State, we own part of the avenue d’Ostende: the cardio-thoracic center, the Beau Rivage, the avenue de Monte -Carlo to the Spélugues garden, the Larvotto peninsula, the terraces in front of the Casino, the Thermes Marins, the premises of the Rothschild bank… This is the playground of our future director of real estate development.”
Optimize sites, think regarding new equipment, prepare for the future in short? “We must accelerate our real estate development in the Principality. Important projects will be presented soon”whispers President Valeri, without wanting to dwell on the subject and saying, like a pirouette, that Rome was not made one day…
“The most prestigious palace in Courchevel”
Historically, this will remain the first important decision taken under the presidency of Stéphane Valeri at the head of the Société des Bains de Mer. Who has never hidden his desire to export the know-how of the SBM internationally and ‘showed by positioning yourself to acquire a hotel in the ski resort of Courchevel, “the most prestigious in the Alps, with the largest ski area in Europe”specifies the president.
On October 3, the SBM will sign the purchase of the Palace des Neiges in the French commune. “It is the best located hotel in the Alpine Garden, comments Stéphane Valeri. We are the first, facing the forest and behind it large competing palaces are present: Cheval Blanc by LVMH, Les Airelles by Stéphane Courbit, L’Apogée by Xavier Niel.”
One to two years of work
Before competing once morest these prestigious hotel addresses, the Société des Bains de Mer will have to completely review its Courchevel hotel. “It was a very large palace, which has aged and which needs a profound restructuring. The SBM will put its hand in it, choose a renowned architect and launch one to two years of work to make it the most prestigious palace in Courchevel”, promises its president. Owner in a few days on paper, the SBM will still let the seller owner operate his establishment this season. “We were not ready to start the work in December, we will start it next spring.”
A first step before another? Stéphane Valeri’s international ambition remains. “We have seasonal activity in Monaco, less than before but still a little too much. If we want to develop internationally among other things, it is also to develop during periods when activity is lower in Monaco , like autumn and winter. Hence the investment in Courchevel. And tomorrow, we might imagine being present in the southern islands which have very strong activity during the winter period.”
