Monaco's SBM Group (Société des Bains de Mer) has announced that its Luxembourg-registered subsidiary Monte-Carlo SBM International Sàrl has signed an agreement to acquire a hotel in Courchevel, in the Northern Alps.

The Monegasque tourism group intends to carry out a major renovation of this 'Palace des Neiges', 'in order to soon bring to life all its know-how and expertise in this field', in partnership with the Vallat Group.

This acquisition should be finalized before the end of the first half of the 2023-24 financial year, the proposed acquisition being subject to generally applicable conditions. Financial details are not disclosed.

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