Investing in experience: Beaumier’s Billy Skelli Cohen on the art and science of scaling luxury

French owner-operator group Beaumier is banking on luxury, leisure and experiential travel as a driver for growth in hospitality. Founded in 2011 and acquired by KSL in 2019, the group now owns and operates ten hotels across France, Spain, and Switzerland.

CEO Billy Skelli Cohen shares his views on Europe’s hospitality investment market, scaling experiential luxury, and working with a private equity partner ahead if his participation to IHIF EMEA.  

Hospitality Investor: How would you characterise current hospitality investment conditions in Europe?

Billy Skelli Cohen: It is difficult to generalise across all of Europe, but overall performance remains resilient as people continue to prioritise travel. As a result, sellers are still expecting strong pricing for their assets, while buyers are increasingly focused on finding value amid cost increases, geopolitical uncertainty and global risk. This disconnect is currently making it challenging to align buyer and seller expectations. 

Hospitality Investor: How are macro-economic factors influencing capital allocation decisions in hospitality?

Billy Skelli Cohen: Macro-economic factors have rarely been this complex, which inevitably makes capital allocation decisions more difficult. However, for investors able to take a medium-term view, hospitality remains a very robust asset class. As we continue to move toward an experience-based economy, travel remains—and will continue to remain—high on consumers’ priority lists. 

Hospitality Investor: Which types of capital do you believe are best positioned to capitalise on current opportunities in European hospitality?

Billy Skelli Cohen: Opportunities vary by market, but European hospitality ownership is particularly well suited to long-term capital. The sector is supply-constrained, and Europe is effectively a living museum that will continue to attract travellers from all over the world. 

Hospitality Investor: How has your growth strategy evolved in partnership with KSL Capital Partners?

Billy Skelli Cohen: KSL acquired the first five hotels in the portfolio in 2019. Following the rebranding to Beaumier in 2021, the portfolio has more than doubled to 11 hotels today. Over this period, our growth strategy has evolved from establishing and clarifying the brand to selectively scaling it.

Today, the group is well positioned for its next phase of growth, which includes the further acquisition of individual hotels or potentially another complementary group. Our focus is firmly on disciplined, brand-accretive expansion rather than growth for its own sake.

KSL has been an outstanding sponsor, providing both capital and strategic support. At the same time, we recognise that private equity ownership is, by nature, not permanent. Looking beyond 2026, we see the partnership continuing to evolve in line with Beaumier’s maturity, with a shared objective of building a distinctive, high-quality growth platform that is attractive to long-term capital. 

Hospitality Investor: As you expand, how do you ensure the brand stays true to its ethos at scale?

Billy Skelli Cohen: Delivering curated, experiential luxury at scale is as much an art as it is a science. For us, it starts with being highly selective about the assets we take on. Creating a Beaumier hotel is not about imposing a formula; it is about revealing and enhancing the existing DNA of a property—typically rooted in exceptional natural settings and a strong sense of place.

As the brand grows, we remain deeply committed to creating inspiring environments for both our teams and our guests. We bring together multiple elements—design, food and beverage, wellbeing, and service culture—to create soulful, relaxed spaces that allow guests to shape their own meaningful experiences.

The main challenge is ensuring this ethos is preserved as the organisation grows. To address this, we invest in our people and empower local teams to grow with Beaumier. Our teams are, and will always be, the most critical ingredient in maintaining the brand’s authenticity and emotional resonance.  

Hospitality Investor: How do you generate returns on travel trends such as experiential travel, luxury, wellness? 

Billy Skelli Cohen: Over the past 20 years, hotels—particularly in the higher-end segment—have focused on activating public areas through food and beverage. While often lower-margin, when executed well these offerings can contribute meaningfully to EBITDA and, importantly, elevate the profile of a property, driving higher RevPAR. Looking ahead, the next 20 years will be defined by wellness (or, as I prefer to call it, wellbeing). Guests are increasingly willing to pay a premium for hospitality environments that enhance their physical, mental, and emotional wellbeing. 

Hospitality Investor: What themes do you expect will shape the next phase of hospitality investment?  

Billy Skelli Cohen: While not directly an investment topic, it is difficult to discuss the future of hospitality without addressing AI. So, like everyone,I am interested in learning how different players are applying it in practice. IHIF is a great opportunity to understand how peers and the overall industry are viewing market dynamics, and, hopefully, discovering a few compelling new opportunities along the way. 

Hear more from Billy Skelli Cohen at IHIF EMEA in Berlin in 23-25 March, where he will join the session on “the ROI of experience: Creating amenities and services that perform”.