2023-07-15 07:33:00
“Prom the priorities we asked Pascal Camia to study the possibility of acquiring a hotel establishment in a prestigious resort in the Alps.”
It was one of the most salient announcements in the long and ambitious roadmap of Société des Bains de Mer’s CEO, Stéphane Valeri, during his first press conference on May 12 at Monte-Carlo. Bay. And for good reason, the statement officially relaunched the international strategy of the Monegasque flagship. Exporting and taking advantage of new roots outside the Principality to not only attract new customers, but also to offer more internal flexibility to the teams and their know-how.
Major renovation of the “Palace des Neiges”
“The SBM enjoys a great reputation and expertise recognized worldwide in the field of luxury hotels and games. However, this growth lever has never been developed to date, outside of certain financial holdings in international companies. It is now a matter of providing SBM with a team responsible for preparing its development abroad, in a targeted manner and within the framework of a very precise strategy.”
A strategy entrusted to Pascal Camia, former director general of the Games, which becomes concrete this Friday morning with the confirmation by the SBM of the signature “of an agreement for the acquisition of a hotel establishment in Courchevel 1850, via its subsidiary under Luxembourg law, Monte-Carlo SBM International S.àr.l.”.
The installation will be done “in the heart of the so-called Jardin Alpin district, among the main players in the luxury hotel industry, may this strategy find its first fulfillment with this commitment to the acquisition of the ”Palace des Neiges”, with a view to a major renovation, to soon bring to life all the know-how and all the expertise of the SBM Group in this area”specifies a press release – previously distributed to the regulatory media of the Autorité des marchés financiers – without revealing a more precise timetable and financial details, except that “This acquisition should be finalized before the end of the first half of the 2023-2024 financial year”.
This information was accompanied by a slightly positive variation in the SBM share on the stock market.
“A new page in the history of the SBM”
evoking “a new page in the history of the SBM”Stéphane Valeri announces a partnership with the Vallat Group (read below) “to optimally support this specific acquisition process in the mountains (…) with a shared desire to carry out a hotel project of excellence.”
In an interview given to Monaco-Morning published on May 24, Prince Albert II welcomed this strategy, where he encouraged pragmatism on other development projects by Stéphane Valeri. “It is good to study certain SBM investment opportunities abroad in hotel establishments. The idea is attractive in several respects, to bring our customers to other places and enjoy other facilities, to develop part of the staff and gain experience in other establishments, outside Monaco, with a different dynamic (…) The SBM must be in excellence in order to face global competition.”
The 5-star hotel was elevated to the rank of palace in 2019. DR.
The Vallat Group as a partner of choice
“To identify the property and optimally support this specific mountain acquisition process, the SBM Group has approached the Vallat Group, with a shared desire to carry out a hotel project of excellence.specifies the press release from the Société des Bains de Mer, which praises the qualities of its new partner. This reputable partner benefits from a very advanced knowledge of the real estate market, in the Northern Alps, and in particular in the Courchevel valley, where the family of Mr. Joffray Vallat, president of the eponymous group, has been established for decades.”
Joffray Vallat who evokes “a great satisfaction and a great pride for us, to carry out this strategic project alongside the SBM Group, with a view to offering a future luxury hotel, in order to create a unique link between Monte-Carlo and Courchevel 1850”.
Established on avenue de Grande-Bretagne in Monaco and increasingly present on the Côte d’Azur, the Vallat Group was created in 1956 in Annecy and has agencies in Courchevel, Méribel, Tignes, Val d’Isère, Megève, Saint-Tropez or Saint-Barthélemy.
Since 2018, Joffray Vallat has focused on “pleasure real estate”, from construction to the layout of exceptional homes, through transactions. An activity that the CEO carries out under the Antarès label, a brand created in 2018 and offering “a smart tailor-made real estate concept”.
Expertise at the service of the upcoming complete renovation of the 5-star Hotel Les Neiges, inaugurated in December 2015 and elevated to the rank of “Palace des Neiges” in 2019.
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