Franck Biancheri is officially appointed President Delegate of the QD Hotel and Property Investment company.
Nice Matin reports this morning that the government counsellor is to take a leading role with QD Hotel and Property Investment Ltd. The joint venture was established in August 2010, with 80% held by the Qatari Diar subsidiary and 20% by Monaco's Societe Nationale de Financement (SNF).
In an interview with the newspaper, Biancheri says he won't completely give up his current administrative role in the Government. Initially he'll be building his team in the company's new offices in Le Montaigne on avenue de Grande Bretagne. He'll also be traveling around the world to places like London, Singapore, Tokyo, Shanghai and Macao, investigating opportunites for the company to invest in creating and managing luxury hotels.
The aim of the joint venture is to create a top level brand linked to Monaco. Qatari Diar was unable to invest in SBM a couple of years ago and so made the decision to work together with the Principality to create a new company. The enterprise will not be in direct competition with SBM, which has already expanded outside Monaco's border in Morocco and Abu Dhabi. It has no intention to manage hotels within Monaco, but rather the objective is to create a dynamic brand that will benefit the Principality and reflect positively on the image of Monegasque hospitality.
Although Biancheri himself has not previously worked in the hotel industry, he brings management experience, and will be supported by top level administrative advisers such as Steve Wynn, the American casino mogul who recently obtained Monegasque citizenship. Biancheri's most recent career has taken in: