A unique investment opportunity for a luxury hotel situated in one of the world’s most prestigious ski resorts – Courchevel, France. A rare opportunity to fund a desirable project by leading real estate developers and hospitality experts.
The asset is a 4-star 60-key family orientated hotel suitable for single or family visitors situated in the luxury ski resort of Courchevel. The project is part of a wider regeneration project which also includes retail space for a ski shop and an additional 90 residences (75 of 90 are being sold to private investors). With direct access to the adjacent Aquamotion waterpark, and a new ski lift to be completed in 2019, this will allow for ski in, ski out access to the hotel.
There is a limited supply of properties priced above €3 million in Courchevel 1650. Buyers are therefore prepared to pay increased prices but only for South-facing prime properties with direct access to the ski slopes making this development a huge opportunity. The area continues to attract a Russian and British clientele, and wealthy German and Brazilian buyers are starting to arrive on the market.
Courchevel 1650 is located on the opposite side of the valley from 1850 and 1550. It is considered to be a more family-oriented village; it is a location benefiting from good sun exposure and is slightly set back from the mountain relief. The ski slopes are accessible to children or beginners (green and blue slopes), and accommodation is more accessible.
In Courchevel 1650, demand is still focused on smaller chalets ranging in size from 250 m2 to 450 m2 and ranging in price between €2 million and €4 million. However the intense demand in Courchevel above 1650 is creating an opportunity for new developments in the area.
France as a whole remained the most visited country in the world in 2017 with 89 million visitors. According to INSEE, occupancy in hotels in mountains increased y-o-y by +1.9% in Q3 2018 proving there is demand for new hotels within ski resorts and mountainous areas.
The hotel is situated in Ecrin Blanc which is between Courchevel 1650 and Courcevel 1550, this location attracts millions of tourists throughout the winter and summer months. The 3 valleys that make up the ski area are the Bozel valley (Courchevel), the Allues valley (Meribel) and the Belleville valley (Ménuires and Val Thorens) making this the largest ski resort in the world.
Courchevel 1850 is the favourite of the ‘jet set’ crowd, while the other three villages are more family-orientated (such as the location of Ecrin Blanc). The property is located adjacent to the Aquamotion waterpark, the largest altitude waterpark in Europe. The construction of the Aquamotion was part of the City Hall’s plan to develop non ski-related tourism and to combine the key towns into a single resort of ‘Courchevel’.
Courchevel does remain an exclusive, luxury destination for wealthy foreign tourists. Confirming that trend is the recent opening of the Hotel des Neiges (Barrière), a 5-star hotel with 43 keys, 2 restaurants and a 1,000-m2 spa. There are a further 17 5-star hotels in Courchevel including three Palace hotels, as well as numerous spas, 7 Michelin star restaurants, dozens of luxury boutiques and an altiport in the resort. Property owners here are amongst the world’s wealthiest, keeping prices stable from year to year.
The hotel is easily accessed from Geneva and Lyon airports, with a two hour drive following landing or small private planes can land in the local altiport. There are also trains and buses available to the resort as well as good road access for cars.