Beaumier prepares to make its mark

CHALLES-LES-EAUX, France – Keep an eye on KSL Capital Partners-owned European boutique hotel group Beaumier as new CEO Billy Skelli-Cohen says now that it has gained some size the “soulful” brand is ready to move from being a collection of hotels to become a true brand that could buy another platform as opposed to single assets.

Skelli-Cohen, who took over as CEO on January 1, told Hotel Investment Today that while no portfolio deals are imminent or even cooking, there are always some ongoing discussions.

“We have a lot of work to do in 2025. With that said, we’re always excited to bring new opportunities into the portfolio,” said the founding CEO of Lore Group in London and more recently CEO of Zien Group in Amsterdam.

The three-year-old owner-operator ((formerly known as Les Hotels d’en Haut) with 11 hotels and some 400 keys across France, Spain and Switzerland with a strong commitment to sustainability and nature preservation has more than doubled its size since COVID and has bigger ambitions, according to Skelli-Cohen.

It continues to look for interesting leisure destinations in Europe that fit the brand and its customer. “But, you know, today, our priority is to look inwards,” he said.

The Grand Hotel Belvedere ski resort marks Beaumier's debut in Switzerland with 71 rooms and 19 suites.

“My priority this year is for us to kick ass with our 11 hotels,” Skelli-Cohen continued. “So, I won’t be excited or disappointed no matter what our conversion rate in pipeline looks like this year. But, you know, obviously, it’d be disappointing to go through the year without having some portfolio growth and something next to look forward on.”

Skelli-Cohen said Beaumier, which generally acquires assets on its own through its capital partner, has looked at things in the U.K. and will continue to do so. “But I wouldn’t say it’s at the top of our list,” he continued. “Spain, Italy, France and Switzerland are definitely where we’re investing more time and where we’re building more pipeline. With that said, there is a time and a place for Beaumier to go into the countryside of the U.K., as well.”

It's unlikely Beaumier will do greenfield projects or third-party manage as it tends to be a buyer that builds up assets that already have some solid DNA and a bit of a story to it, according to Skelli-Cohen. Their sweet spot seems to be between 50 and 100 keys in higher ADR markets.

When assessing the acquisition market for the moment, Skelli-Cohen said that, as a whole, there remains a bit of a bid-ask spread.  “Debt getting a bit better is helping that, and while we are still seeing opportunities, there is no doubt that the ecosystem in which we’re looking at deals is more competitive today than it was four years ago.”

Praying for snow

The existing portfolio is doing well during this winter season with Skelli-Cohen saying they are beating budgets for January and February with March looking solid, as well. More and more business is coming in last minute and pacing for summer also looks solid, he added.

“I’m new to seasonal businesses. I’ve been praying for snow more than I ever thought I would in my line of work, and we’re getting some good snow and some good sunshine in the Alps,” he said. “Our business on the books is definitely up from the same time last year with every one of our properties, and up pretty significantly for most of the portfolio.”

In Provence, Capelongue is adding 41 new rooms.

Beaumier’s soon-to-open property in Ibiza already has good business on the books, according to Skelli-Cohen, and its Grand Hotel Belvedere opening this summer in Wengen, Switzerland, offers a new market for the company. “We will keep our focus on these hotels and really invest in marketing, PR, sales and revenue management strategies,” he added.

Beaumier acquired two other properties in Switzerland with a third property currently operating outside the company eco-system as it goes through renovation.

In Provence, France, Capelongue reopened last summer following a renovation that added 41 new rooms, bringing the total to 57 rooms and suites.

Moving forward, Skelli-Cohen said he is trying to make sense of geopolitics when considering business plans, but believes they are very much in touch with the way people want to travel and experience destinations.

“I put a lot of emphasis on really challenging ourselves on a day-to-day basis,” Skelli-Cohen said. “I always say, ‘how do we get from an eight to a nine and a half?’ That’s the continuous journey that we’re on.”

As for their owner, KSL, Skelli-Cohen said they have been holding for five years, including the tough COVID years.

“I think our shareholders really love the strategy and our big believers in the vision behind Beaumier,” he said. “We are all really excited about growing the business and getting more upside.”