(Boursier.com) — As part of the strategy initiated since the assumption of office of Chairman and Delegate Stéphane Valeri, the Group Société des Bains de Mer and the Cercle des Etrangers in Monaco (SBM) announces that its subsidiary under Luxembourg law, Monte-Carlo SBM International Sàrl, has signed an agreement under the terms of which the company is committed to the acquisition of a hotel establishment in the Northern Alps.
This strategy finds its first achievement in Courchevel 1850, in the heart of the district known as the Jardin Alpin, among the main players in the luxury hotel industry with the acquisition of the “Palace des Neiges”, with a view to a major renovation, “for soon bring to life all the know-how and all the expertise of the SBM Group”.
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. 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 Joffray Vallat, president of the eponymous group, has been established for decades.
This acquisition should be finalized before the end of the first half of the 2023/2024 financial year, the proposed acquisition being subject to generally applicable conditions.
Financial details are not disclosed.
“This acquisition is the expression of our desire to deploy new sources of growth beyond the Principality of Monaco, while retaining what makes up the DNA of our group, by relying on the new direction of international development. 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 perspectives to our employees throughout the year. international luxury, a new page in the history of our company”, commented Stéphane Valeri, Chairman and Deputy Chairman of the SBM Group.
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