Groupe Terrésens

Groupe Terrésens, founded in 2008 by Géraud Cornillon, operates as a comprehensive developer and manager in the tourist real estate sector. The firm manages the entire property lifecycle, from land acquisition and development to marketing, sales, and ongoing property management and operation. This integrated model provides a 360-degree approach to leisure properties primarily located in French mountain resorts, as well as seaside locations in France and Portugal. Cornillon, leveraging over 28 years of experience in the tourism sector, established the company to address conflicts of interest between developers and property managers, focusing on customer satisfaction and long-term asset value.

The company's business model centers on developing, building, and selling premium hotel residences and apartments to individuals seeking a second home. A key part of its strategy is the "Copropriété Résidentielle de Tourisme" (CRT) concept, or Residential Tourism Co-ownership, which it pioneered in late 2013. This structure allows owners to use their property as they wish while also generating rental income by entrusting the management to a Terrésens subsidiary, My Second Home. This approach offers owners flexibility and an average return of around 3%, which helps cover maintenance and energy costs. Revenue is generated from property development and sales, as well as fees from rental management and concierge services. The company's clients are typically individuals looking for a high-end second home that combines personal use with investment returns.

A significant milestone occurred in April 2025, when Compagnie des Alpes acquired a 33% stake in Terrésens for €6.9 million, with an option to increase its share to 80% within four years. This strategic partnership aims to enhance the development of high-quality tourist accommodations in the Alps. Despite the acquisition, Géraud Cornillon remains the majority shareholder and continues to lead the company as Chairman. As of early 2025, Terrésens operated 11 residences, with a strong pipeline of 9 under construction and another 9 in the planning stages. The company reported total sales of €68 million for the 2024 fiscal year.

Keywords: real estate development, tourist residences, property management, leisure real estate, French Alps, second homes, investment property, CRT concept, Residential Tourism Co-ownership, Géraud Cornillon, Compagnie des Alpes, premium residences, mountain resorts, seaside property, real estate sales, rental management, concierge services, holiday homes, property investment, managed real estate