On behalf of Colony Capital, Jones Lang LaSalle Hotels is pleased to announce the sale of the four-star luxury Mt Vallon hotel in Méribel, in the heart of the French Alps. The hotel was sold to French owner-operator Alp A`zur H™tels for €13.7 million.
Renowned in the four-star winter resort market, Mt Vallon, is ideally located in one of the largest ski resorts in the world (Les Trois Vallés). “The sale generated strong interest from both French and international investors, from owner-operators as well as private investors, notably British and American” stated Yves Marchal, Directeur in Paris. “Hotel operating chains who were not initially interested in seasonal leisure hotels, are now looking to complement their city centre product with leisure-orientated properties” added Mr Marchal.
“The product represented a rare find. Available land for well-located luxury accommodation in Europe`s ski resorts is limited. In addition Mt Vallon boasts 92-rooms, which few competitor hotels can match” said Mr Marchal. The hotel attracts guests in both the summer and winter months, serving to spread demand throughout the year. “This served to heighten investor interest in the property” added Mr Marchal.
The new owner, Alp A`zur, is a hotel owner operator specialising in the French leisure market. Its 11 high standard hotels are mostly based in two complimentary locations: St Tropez and Courcheval. The acquisition of the hotel fits perfectly with the strategy of the group, which according to Renè Guth (the founder and head of the group) is focused on moving towards the up-scale market.
The hotel`s location at the foot of the ski slopes is excellent. Built as a large, traditional Savoy chalet, the hotel combines a warm authentic atmosphere with all modern conveniences expected by affluent international guests. The hotel includes 92 rooms and suites, two restaurants with a large outdoor south-facing terrace, a bar, fitness club with pool, Turkish baths, sauna, massage rooms, a squash court, night-club, meeting rooms and two shops.
The recently renovated hotel has been repositioned to target individual leisure customers and still has up-side potential for increasing investor value.