Monaco’s Société des Bains de Mer (SBM) recently released its financial report for the first quarter of 2025/2026. Overall, the SBM and its subsidiaries achieved a 12% increase in revenue during the first quarter compared to the same period last year (€244 million compared to €218.4 million, an increase of €25.5 million).
“Revenue for the first quarter of the 2025-2026 financial year increased across all business sectors and confirms the SBM Group’s growth momentum and the relevance of our strategy. Business in our hotels and restaurants was particularly dynamic throughout the quarter, particularly during the Monaco Formula 1 Grand Prix,” said Stephane Valeri, Deputy President of the Société des Bains de Mer.
Record-breaking increase in Hotel Revenue
The sector that experienced the biggest increase in revenue was the SBM’s hotel sector, which reached a new record of €148.9 million, compared to €130.3 million for the same period last year, an increase of €18.6 million or 14%.
“This increase affected all properties, with an increase in hotel occupancy rates and restaurant attendance, as well as an increase in prices, confirming the attractiveness of the SBM Group’s hotels and restaurants and the quality of the work of all its teams,” said the SBM’s financial report.
Gaming and rental sectors
The gaming sector recorded a revenue of €50.6 million for the quarter, compared to €47.0 million the previous year, an increase of 8%.
According to the SBM, the nature of the gaming sector makes it difficult to predict how well the sector will do overall by the end of the financial year: “We remind you that the gaming business is dependent on its random nature over a short period of time. This uncertainty does not allow us to make forecasts for the entire 2025/2026 financial year.”
The SBM’s rental sector, which includes retail and office rentals activities as well as the hotel residences in Monte-Carlo Bay, Balmoral, Villas du Sporting, and One Monte-Carlo, posted a revenue of €39.2 million, compared to €36.9 million for the same period last fiscal year, an increase of €2.3 million. This increase is mainly due to the gradual leasing of the new commercial spaces available at the Café de Paris and the contractual application of rent indexations.
