The Principality of Monaco unveils its major projects for 2023-2024

[vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”administrator,editor,author,armember”][vc_column][vc_column_text]

At a press conference, Stéphane Valeri, CEO of Monte-Carlo Société des Bains de Mer (SBM), outlined the company’s various projects. The Principality plans to develop new areas dedicated to restaurants and luxury boutiques.

 

Three months into his term of office, Stéphane Valeri, CEO of Monte-Carlo Société des Bains de Mer (SBM), held his first-ever press conference in May.

 

This long-awaited event in Monaco was an opportunity for the emblematic leader of the Monegasque economy to unveil the new management structure and the company’s major strategic orientations. This marks the beginning of a new chapter in the history of Monte-Carlo Société des Bains de Mer, as it enters its 160th year of existence, buoyed by a new dynamic.

 

 

In this interview, Stéphane Valeri alluded to the initiatives that will mark the coming months, from the summer period through to spring 2024.

 

In early June, SBM unveiled solid consolidated results for the period April 1, 2022 to March 31, 2023, with sales of €667.0 million, compared with €530.5 million for the previous year. Games alone brought in 215.4 million euros, compared with 200.8 million euros in 2021/2022, while hotel revenues remained the Group’s driving force at 325.1 million euros, compared with 213.3 million euros previously.

 

Operating profit rose to +72.2 million euros, compared with +35.4 million euros the previous year, with all business sectors reporting growth.

 

A popular restaurant

 

For the summer of 2023, the Maona Monte-Carlo cabaret will be the venue for a 70s revival by the sea. An open-air summer cabaret concept will be offered, featuring a variety of atmospheres. In addition, thanks to Club la Vigie, Monte-Carlo Société des Bains de Mer will revive its heritage by reintroducing in June 2023 the concept of a 1950s beach club, revisited in a contemporary way. This will be accompanied by a lounge atmosphere and a menu created by Marcel Ravin.

 

 

Also announced was the renovation of the Blue Bay restaurant, located within the Monte-Carlo Bay & Resort hotel. In autumn, a well-known institution will be revived on Casino Square: the legendary Café de Paris Monte-Carlo brasserie. This promising project will feature a bistro atmosphere on the first floor, while the second floor will host an elegant brasserie, offering a more intimate atmosphere and new boutiques.

 

In 2024, the major attraction will be the arrival of Amazonico, a renowned trendy restaurant chain already present in Madrid, London and Dubai. This addition will considerably enrich the group’s dining and entertainment offer, targeting a particularly well-traveled clientele. Amazonico Monte-Carlo will offer exceptional terraces with a breathtaking view over Casino Square.

 

Luxury home products

 

Monaco’s Allee François-Blanc has been completely redeveloped, giving architects the opportunity to design a brand-new shopping area, including seven new boutiques adjacent to Place du Casino. This prestigious space is particularly attractive to renowned international luxury brands.

 

 

SBM shareholder LVMH has reserved two locations for its premium brands: watchmaker Tag Heuer and iconic jeweler Tiffany. The latter brand, acquired by the group headed by Bernard Arnault in 2022, has undergone a complete renovation of its historic boutique on Fifth Avenue in New York, giving it a new lease of life. A location in Monaco is also planned. These two brands reflect in part the spirit of the brands that will occupy this innovative space along the avenue.

 

Zegg & Cerlati, Café de Paris‘ long-standing tenant, will also be expanding its activities to showcase its collection of luxury watches and jewelry. It will share this environment with Arije, a multi-brand brand specializing in haute horlogerie. After establishing its presence in Paris and London, it will also set up in Monte-Carlo.

 

Other contracts to come

 

Other agreements are being finalized, notably for the installation of elegant shoe collections and high-end ready-to-wear, according to Stéphane Valeri. However, he cannot yet reveal the names of the brands that are expected.

 

From a logistical point of view, SBM plans to hand over the space to the future tenants in July, so that they can then begin the necessary fit-out work. The first stores are due to open in November.

 

Finally, in mid-July, SBM confirmed that it was strengthening its growth drivers outside the Principality of Monaco. With the support of the Vallat Group – a specialist in prestige real estate – the company is about to acquire a 5-star hotel with spa in the ski resort of Courchevel.

 

The acquisition of the Palace des Neiges, located in the Jardin Alpin district, is scheduled for completion by the end of the first half of the 2023-2024 financial year.

 

 

Read also >LuxePack Monaco 2023 focuses on in-house well-being and sustainability

Featured photo : ©SBM[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]

At a press conference, Stéphane Valeri, CEO of Monte-Carlo Société des Bains de Mer (SBM), outlined the company’s various projects. The Principality plans to develop new areas dedicated to restaurants and luxury boutiques.

 

Three months into his term of office, Stéphane Valeri, CEO of Monte-Carlo Société des Bains de Mer (SBM), held his first-ever press conference in May.

 

This long-awaited event in Monaco was an opportunity for the emblematic leader of the Monegasque economy to unveil the new management structure and the company’s major strategic orientations. This marks the beginning of a new chapter in the history of Monte-Carlo Société des Bains de Mer, as it enters its 160th year of existence, buoyed by a new dynamic.

 

 

In this interview, Stéphane Valeri alluded to the initiatives that will mark the coming months, from the summer period through to spring 2024.

 

In early June, SBM unveiled solid consolidated results for the period April 1, 2022 to March 31, 2023, with sales of €667.0 million, compared with €530.5 million for the previous year. Games alone brought in 215.4 million euros, compared with 200.8 million euros in 2021/2022, while hotel revenues remained the Group’s driving force at 325.1 million euros, compared with 213.3 million euros previously.

 

Operating profit rose to +72.2 million euros, compared with +35.4 million euros the previous year, with all business sectors reporting growth.

 

A popular restaurant

 

For the summer of 2023, the Maona Monte-Carlo cabaret will be the venue for a 70s revival by the sea. An open-air summer cabaret concept will be offered, featuring a variety of atmospheres. In addition, thanks to Club la Vigie, Monte-Carlo Société des Bains de Mer will revive its heritage by reintroducing in June 2023 the concept of a 1950s beach club, revisited in a contemporary way. This will be accompanied by a lounge atmosphere and a menu created by Marcel Ravin.

 

 

Also announced was the renovation of the Blue Bay restaurant, located within the Monte-Carlo Bay & Resort hotel. In autumn, a well-known institution will be revived on Casino Square: the legendary Café de Paris Monte-Carlo brasserie. This promising project will feature a bistro atmosphere on the first floor, while the second floor will host an elegant brasserie, offering a more intimate atmosphere and new boutiques.

 

[…][/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…

Already have an account ? Please log in.

[/vc_cta][vc_column_text]Featured photo : © SBM[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”subscriber,customer”][vc_column][vc_column_text]

At a press conference, Stéphane Valeri, CEO of Monte-Carlo Société des Bains de Mer (SBM), outlined the company’s various projects. The Principality plans to develop new areas dedicated to restaurants and luxury boutiques.

 

Three months into his term of office, Stéphane Valeri, CEO of Monte-Carlo Société des Bains de Mer (SBM), held his first-ever press conference in May.

 

This long-awaited event in Monaco was an opportunity for the emblematic leader of the Monegasque economy to unveil the new management structure and the company’s major strategic orientations. This marks the beginning of a new chapter in the history of Monte-Carlo Société des Bains de Mer, as it enters its 160th year of existence, buoyed by a new dynamic.

 

 

In this interview, Stéphane Valeri alluded to the initiatives that will mark the coming months, from the summer period through to spring 2024.

 

In early June, SBM unveiled solid consolidated results for the period April 1, 2022 to March 31, 2023, with sales of €667.0 million, compared with €530.5 million for the previous year. Games alone brought in 215.4 million euros, compared with 200.8 million euros in 2021/2022, while hotel revenues remained the Group’s driving force at 325.1 million euros, compared with 213.3 million euros previously.

 

Operating profit rose to +72.2 million euros, compared with +35.4 million euros the previous year, with all business sectors reporting growth.

 

A popular restaurant

 

For the summer of 2023, the Maona Monte-Carlo cabaret will be the venue for a 70s revival by the sea. An open-air summer cabaret concept will be offered, featuring a variety of atmospheres. In addition, thanks to Club la Vigie, Monte-Carlo Société des Bains de Mer will revive its heritage by reintroducing in June 2023 the concept of a 1950s beach club, revisited in a contemporary way. This will be accompanied by a lounge atmosphere and a menu created by Marcel Ravin.

 

 

Also announced was the renovation of the Blue Bay restaurant, located within the Monte-Carlo Bay & Resort hotel. In autumn, a well-known institution will be revived on Casino Square: the legendary Café de Paris Monte-Carlo brasserie. This promising project will feature a bistro atmosphere on the first floor, while the second floor will host an elegant brasserie, offering a more intimate atmosphere and new boutiques.

 

[…][/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…

Already have an account ? Please log in.

[/vc_cta][vc_column_text]Featured photo : © SBM[/vc_column_text][/vc_column][/vc_row]

Picture of The editorial team
The editorial team
Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

Subscribe to our Newsletter

Sign up now to receive sneak previews of our programs and articles!

Launch offer:

Your participation in the Camille Fournet Masterclass reserved for annual subscriber !

Luxus Plus Newsletter