MMV targets 600 to 900 additional beds in two to three years

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The MMV Group has definitely turned the page on its Mediterranean adventure to focus on the mountains, where it has been investing heavily since 2015. The hotel and leisure group has raised 44 million euros to acquire three hotels in its park: Les Brévières in Tignes, Les Bergers in L'Alpe d'Huez and Altitude in Arc 2 000. The MMV group, whose head office is based in Saint-Laurent-du Var in the Alpes-Maritimes, was already a manager for 14 years , establishments in Alpe d'Huez and Tignes, in which he had done work, for 3.5 million euros, and for nine years, Altitude. According to a proven method, the mountain club holiday specialist raised the funds, 44 million euros, via the MMV property and a tour de table associating various banking partners (Bpifrance, leader, Arkéa, BNP, Banque Populaire Auvergne Rhône-Alpes, Credit Agricole of Savoy). For Jean-Marc Filippini, co-founding president, these investments are intended to consolidate the group's assets in the medium term: "By buying, we take advantage of low interest rates to secure our stock of goods. At the same time, the group inaugurates this winter three high-end club residences (4 stars), creations ex-nihilo, in the resorts of Saisies, Tignes 1800, and Arêches-Beaufort. For the last two years, the investments were not carried directly by the MMV manager, but were carried out within the framework of a Foncière bringing together several stakeholders including banking partners, institutional investors and ski lifts. In Les Saisies, this is a traditional tourist residence operation with the promoter builder Eiffage. The total investment amount is more than 100 million euros for these three operations.

Four to five additional institutions

Born from the acquisition in 1989 of three hotels, MMV first invested equally in seaside and mountain. In 2015, a change of course: the group is offloading its assets in the Mediterranean to focus on the Alps, beyond 1,600 meters above sea level (except Arêches-Beaufort). "At the seaside, we did not find comfort facilities that could meet the needs of our demanding clientele, who were originally entrepreneurs. Today, the pace is steady, the specialist leading front-line acquisitions of own buildings offering a high potential for accommodation, often old holiday clubs, and the creation of residential hotels. In its portfolio, MMV currently manages 12 hotels classified as holiday villages (three-quarters of which are owned) and eight club residences. And do not plan to stop there. "We plan to open four to five more in two to three years, which represents between 600 and 900 beds," says Jean-Marc Filippini. In the pipes, establishments in Deux Alpes, Alpe d'Huez and Corbier …

MMV in brief
ACTIVITY: leisure accommodation

CREATION: 1989

LOCATION: Saint-Laurent-du-Var (head office); establishments in the Hautes-Alpes, Haute-Savoie, Savoie, Isère. SALES: € 57M in 2017, € 60M expected in 2018
EMPLOYEES: 500 full-time equivalents
NET RESULT: NC
DISTRIBUTION OF CAPITAL: 62% founders and managers (Marc Lafourcade, Chief Executive Officer, Jean-Marc Filippini, Chairman); 38% financial investors (Arkéa, Capital Investissement, Bpi France, ACG management).

By Laurent GANNAZ |
                                                Posted on 24/11/2018 at 06:10
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