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Accommodation : New Investments on the Côte d'Azur... Is this a sign of recovery ?

From Monaco to Cannes


Rédigé par Michel Bovas le Lundi 17 Février 2014

Several hotel projects will emerge on the French Riviera from Monaco to Cannes via Nice. Here are the key investment projects.



Accommodation : New Investments on the Côte d'Azur... Is this a sign of recovery ?
Hotel investments appear to be making a come back on the Côte d'Azur.

Pierre & Vacances opens a touristic complex of 70 units as part of the project “Eco Quartier Cap Azur” in Roquebrune Cap Martin, neighboring Monaco.

Also close to Monaco, is the proposed 5 star project in the town of Menton, Hotel Garavan, which is currently still stalled by an appeal. This hotel will be designed by the architect Jean-Michel Wilmotte.

It will offer 86 rooms, 14 suites, a center for conventions and seminars, a wellness space, shops and an indoor garden by Jean Mus.

It will be managed by Jean- Pierre Pinelli, who already runs " La Villa " in Calvi. The municipality of Cap d'Ail is committed to promoting the creation of a 5 star hotel on land abandoned by the SNCF.

One out of two nights is occupied by foreign clientele

This project is supported by the Altarea Cogedim real estate company through the Westin hotel chain, which will offer 133 rooms, a restaurant, a bar, a fitness center covering 3000 m2 and a spa.

Half of overnight stays in hotels come from foreign customers

In Nice, several potential hotels are studying the space around the airport, on the side of the current Grand Arena and the “Grand Arena Future.”

In the city center, the Hotel Plaza (4 stars) will undergo a major renovation project. Finally in Cannes, the Vinci group sold, a few days ago, a 4-star hotel under construction on the train station. It bears the OKKO Hotels brand.

The hotel will include 125 rooms and a multi-service Club space (business area, fitness center and more…).

All these investments are based on the evolution of hotel occupancy. According to the CRT Riviera Côte d'Azur that just published its results on tourism for 2013, one out of two nights in a hotel on the Côte d’Azur is occupied by foreign clientele.

In 2013, the 1.5 million non-European tourists mark has been passed. 3 out of 10 foreign clients are non-European. For the first time, China will surpass the 100,000 stays in 2014 (+24% in 2013).

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