SBM Reports €461.4 Million Revenue Despite Hotel de Paris Renovation Impact
The casino and hospitality giant achieved a 2% revenue increase to €461.4 million for fiscal 2015-2016, though Hotel de Paris works affected performance.
Société des Bains de Mer has revealed its financial performance for the 2015-2016 fiscal year, with revenue reaching €461.4 million at the company's annual general meeting held at the Hermitage Hotel in late September.
Chairman Jean-Luc Biamonti presented the results to media, highlighting a modest 2% growth in turnover despite significant challenges. The hospitality division faced considerable disruption due to ongoing renovation works at the iconic Hotel de Paris, which substantially impacted the sector's contribution to overall performance.
The figures, covering the period ending 31st March 2016, were formally approved by shareholders during the September gathering. While the growth rate remained relatively contained, the company managed to maintain positive momentum despite the operational challenges posed by one of Monaco's most prestigious hotel properties undergoing major refurbishment.