Investors
Advisory and transaction services for hospitality investors in ski resorts: family offices, specialised funds, structured private investors, tourism infrastructure funds, international investors.
Alpine hospitality is attracting more capital today than at any moment in the past ten years. We support five families of investors with distinct strategies, each with an approach tailored to their investment thesis.
Family offices. Patrimonial focus, sensitivity to tangible assets, long-term horizon, demand for discretion. We work with them in a strictly confidential framework, on off-market sourced opportunities.
Real estate funds and specialised hospitality funds. For these institutional players, we identify assets meeting institutional standards (size, operator, documentation) and orchestrate deal structuring.
Structured private investors. Entrepreneurs, executives, wealthy families seeking to diversify their patrimony into alpine hospitality assets, within optimised legal and tax structures.
Tourism infrastructure funds. Complex multi-asset operations combining hospitality with the wider resort ecosystem, structured with the relevant public and private stakeholders.
International investors. North American, Asian, Middle Eastern investors discovering or expanding their exposure to the Alps, with multilingual support throughout.
Our business is to orchestrate hospitality operations in resort, from opportunity to signature, mobilising a network of legal, economic, technical, financial, fiscal and commercial expertise.
Qualified opportunity sourcing. Identification of assets and projects matching your investment thesis. Our living mapping of the alpine market and our direct access to decision-makers at the main European hotel groups and funds give us access to off-market opportunities, often confidential.
Feasibility study and due diligence. Existing analysis, market study, economic model, financing plan. We produce documents to recognised industry standards (USALI for business plans, hotel valuation methods consistent with institutional practices) that condition access to the most demanding investment committees.
Deal structuring and negotiation. Classic hospitality deal structures are no longer enough for next-generation alpine projects. Our expertise lies in designing, negotiating and orchestrating hybrid structures combining elements of lease, management agreement, joint-venture and value-sharing clauses.
Operator matching. A pre-committed recognised operator now conditions access to top-tier investors. We match investors with alpine operators (alpine-specialist groups, international brands, regional players, integrated operators linked to ski domains) based on their current criteria and appetites.
Appetite is confirmed, requirements are new. The asset/operator pair has become the primary criterion. A project without a pre-committed operator now interests only a limited fraction of the market. Four-season diversification is now an explicit gate. Climate risk is priced into the required premium.
Documentation standards have tightened. A file that does not meet expected presentation codes (chartered market study, business plan to recognised standards, structured financing plan) is now filtered upstream, never reaching investment committees.
Hybrid structures replace classic deal models. The significant transactions concluding today in alpine hospitality rely on bespoke negotiated structures, often confidential, requiring fine market knowledge and specialised legal expertise.
Our interventions take place within a strict confidentiality framework, formalised from the first exchange. We work under exclusive mandate on qualified projects.
Confidential first exchange. Understanding of your thesis, your horizon, your constraints. Together we assess whether we are the right partner for your project.
Mandate scoping. Precise definition of the perimeter, deliverable, success criteria and conditions of our intervention.
Execution. We mobilise our mapping, our network and our structuring expertise. You benefit from a single point of contact, Pascal Vie, who coordinates all stakeholders.
Absolute confidentiality. No information about your project, your identity or your criteria is shared without your express agreement. Files are structured to preserve your anonymity until the desired stage.
Alpine hospitality investment is structured in five steps: identification of a qualified opportunity, in-depth due diligence, legal and tax structuring, negotiation with operator and partners, signature. Each step requires specific competencies that few investors hold internally. HoliProject Switzerland orchestrates the entire process from opportunity to signature.
Returns vary significantly depending on the asset profile (luxury, mid-market, managed residential), the resort, the deal structure and the horizon. The luxury segment has massively outperformed the rest of the alpine market for the past five years. Total returns combine operational income and exit capital gains. We establish detailed projections within each mandate, based on auditable quantified assumptions.
The alpine market is not homogeneous. Leading resorts (Val d’Isère, Courchevel, Megève, Verbier, Crans-Montana, Zermatt) offer strong liquidity but high tickets. Repositioning resorts present buying opportunities ahead of repricing, particularly in territories affected by the 2030 Olympic acceleration effect (Maurienne, Aravis, Tarentaise). The right trade-off depends on your horizon, your thesis and your risk tolerance.
The alpine market today comprises around forty operators capable of taking over hospitality assets in resort, distributed across alpine-specialist groups, premium international brands, independent regional operators, and integrated players linked to ski domains. The map of appetites evolves every quarter. HoliProject keeps this mapping up to date for its clients within confidential mandates.
Yes. The signature of a recognised operator upstream now conditions access to top-tier investors. Without a pre-committed operator, a project only interests a limited fraction of the market. This is one of the major structural changes of the past five years in alpine hospitality.
Classic structures (pure commercial lease, standard management agreement, simple franchise) were designed for a stable market with limited exposure to exogenous risks. The significant transactions closing today in alpine hospitality rely on hybrid structures, bespoke-negotiated, combining elements of lease, management agreement, JV and value-sharing clauses. These arrangements are confidential by nature.
Climate risk is now priced into the premium required by investors. Ski domain altitude, share of artificial snow, dependence on alpine skiing are read as financial variables. Mid-altitude assets without a transition plan see their risk premium rise by several hundred basis points. The capacity to activate a second season (summer mountain, MICE, wellness, events) has become an investability condition.
Yes. HoliProject Switzerland is based in Geneva and supports projects in Valais (Crans-Montana, Verbier, Les 4 Vallées, Zermatt) as well as in other alpine cantons. We also operate on the French alpine arc (Savoie, Haute-Savoie) from our Chambéry office, and more broadly across Europe.
Confidentiality is absolute. No information about your project, your identity or your criteria is shared without your express agreement. Files are structured to preserve your anonymity until the desired stage. Our mandates are exclusive and contractually formalised.
A confidential first exchange with Pascal Vie allows us to understand your thesis, your horizon and your constraints, then assess whether we are the right partner for your project. If alignment is confirmed, we formalise a mandate specifying the scope, deliverable and intervention conditions.
Let’s discuss your thesis, your asset target or your operator search confidentially.
Page edited by Pascal Vie, President HoliProject Switzerland. Last updated: May 2026.
