Swiss Life Asset Managers France has acquired Les Vallons de l'Océan, a campsite located in La Plaine-sur-Mer, France.
The acquisition is Swiss Life’s first investment for its Plein Air Invest fund, a private equity offering created in July 2023 which aims to develop a portfolio of upscale outdoor hotels in popular tourist destinations and offer investors a target performance of 10 per cent per annum after a seven-year term.
Inspire Villages, the only company owned by the fund, will acquire, transform and operate outdoor hospitality assets catering to the higher end of the market.
The Les Vallons de l’Océan campsite offers 242 keys and will operate in 2024 under the Vallons de l'Océan banner. However, from next winter, Swiss Life and Inspired Villages plan to implement a transformation program.
Why it matters
This acquisition marks Swiss Life Asset Managers France's foray into the outdoor hospitality market, underlining its strategy to diversify its investment portfolio and taking advantage of a niche but growing segment of tourists who seek to combine luxury with the outdoors. According to research by Euromonitor, niche tourism segments such as wellness, luxury, eco-tourism, sports and adventure are expected to be major growth areas in 2024, with 79 per cent of “eco-adventurer” travellers willing to pay at least 10 per cent more for sustainable travel features despite a cost-of-living crisis.
Swiss Life AM France isn’t the only investor seeing the opportunity in upscale outdoor hospitality, with KSL Capital Partners, Belmond and Blackstone also venturing into the space.