Monaco, 12 October 2023 — As part of the strategy undertaken since Stéphane Valeri became Chairman and CEO, Monte-Carlo S.B.M. Group purchased the Palace des Neiges in Courchevel 1850 on Tuesday, October 3rd.

The strategy thus gets underway in the prestigious French Alps resort, at the heart of the Jardin Alpin district that boasts several leading luxury hotels, with the acquisition of the Palace des Neiges and with a major renovation in view to bring to life all the know-how and expertise of S.B.M in the field.

To identify the property and provide optimal support throughout this specific mountain acquisition, S.B.M Group approached the Vallat group which shares the enthusiasm to develop a luxury hotel project. This reputable partner boasts highly advanced knowledge of the real estate market in the Northern Alps, particularly in the Courcheval Valley, where the family of Mr. Joffray Vallat, the group’s president, has lived for decades.

The Palace des Neiges will continue to be operated throughout the 2023/2024 winter season by the Alp’Azur group. Renovation work will begin in April 2024.

For Stéphane Valeri, Chairman and CEO: “It is a great satisfaction for our group to succeed for the first time in its history in finalizing an international hotel acquisition project, which moreover is next to some of the biggest names in luxury hotels in the Alps. The future renovated establishment will be a new growth relay for us, with complementary seasonal human resources.”

For Pascal Camia, International Development Director: “I would like to thank all the teams that worked so professionally to bring this project to fruition. From now on, we want to offer an exceptional hotel, allowing us to export our know-how to a place highly sought-after by our customers and by those we wish to attract to our group’s global offering.”