SBM CEO Stéphane Valeri has shared updates on SBM’s bold 2025 vision: luxury revamps, iconic hotel upgrades, global ventures, and dazzling new dining spots, all driving Monaco’s future as a world leader in elegance and innovation.
Société des Bains de Mer (SBM) CEO Stéphane Valeri hosted the annual New Year press meeting on Tuesday 7th January in his “favourite” gathering hall in Monaco, the elegant Salon Excelsior of the Hermitage Hotel. The event offered a glimpse into SBM’s future, showcasing a slate of transformative projects that reaffirm Valeri’s commitment to expanding the group’s real estate, hospitality, and international presence.
“This has always been my vision: to grow the company, enhance its offerings, and solidify SBM’s role as a cornerstone of Monaco’s success,” said Valeri, who took the helm two years ago. “We believe in the future of this country and will continue to make significant investments to support its growth.”
Transforming the Terrasses du Casino
At the forefront of SBM’s domestic plans is the redevelopment of the Terrasses du Casino. The project, designed by renowned Monegasque architect Patrick Raymond and the Swiss firm Herzog & de Meuron, will reimagine the area currently housing the Edmond de Rothschild bank offices and the Thermes Marins. The redevelopment aims to create a “new One Monte-Carlo”, featuring luxury residences, high-end boutiques, one of Europe’s largest spas, and panoramic views of Port Hercule.
“This location holds immense potential to elevate Monaco’s luxury landscape,” Valeri explained. “It’s not just about development; it’s about creating iconic spaces that embody the spirit of Monte-Carlo.”
However, the project will require careful planning, as construction cannot begin until Edmond de Rothschild’s teams relocate to their new offices at Place d’Armes, a move scheduled for late 2026. The redevelopment work is expected to commence in early 2027.
Revitalising Monte-Carlo Beach
Valeri also unveiled plans to reposition Monte-Carlo Beach as a “jewel of coastal luxury”. Renovations to the famed resort will begin with a revamped restaurant, Le Deck, and updated furnishings around the pool area. Additionally, two prestigious restaurant brands will debut this spring: Jondal, an Ibiza favourite known for its serene atmosphere and exquisite cuisine, and Sea Satin, a lively Greek concept from Mykonos that will bring vibrant energy to Maona.
“These partnerships reflect our commitment to offering world-class experiences,” said Valeri. “Jondal, in particular, has been the go-to destination for discerning clients in Ibiza, and I’m confident it will thrive here in Monaco as well.”
Upgrading Iconic Hotels
The Hermitage Hotel and Monte-Carlo Bay will both undergo significant renovations over the next five years. At the Hermitage, rooms will be redesigned to include larger suites, while Monte-Carlo Bay will see a complete overhaul of its facilities. To minimise disruption, only a portion of each hotel will close during the quieter months from October to March.
“This phased approach ensures we maintain high occupancy rates while delivering exceptional upgrades,” Valeri explained. “When completed, these projects will further cement our hotels as benchmarks of luxury and innovation.”
Expanding SBM’s global footprint
SBM’s international ambitions are also gaining momentum. Following the successful launch of Monte-Carlo casinos aboard Crystal Cruises in 2024, the group will unveil the Monte-Carlo Club 1863 restaurant in Dubai by the end of this year. The venue, designed to capture the essence of Monaco’s elegance, is currently finalising its location.
“Dubai is a dynamic and fast-moving market,” said Valeri. “We’re excited to bring the spirit of Monte-Carlo to such an influential global destination.”
Closer to home, SBM will open the Monte Carlo Cigar Club this spring within the Casino de Monte-Carlo. Created in collaboration with Dominic London, the club will provide an exclusive space for cigar enthusiasts, housed in François Blanc’s former office and featuring a private terrace.
Courchevel: The Monte Carlo of Winter
The most ambitious plan outlined by Stéphane Valeri during the New Year press meeting was SBM’s first ski resort hotel in Courchevel. Announced in 2023, the project is part of the group’s commitment to expanding its portfolio with high-value investments in premier locations.
Situated in Courchevel’s prestigious “golden square”, the hotel – named Monte-Carlo One – is described by Valeri as a natural extension of SBM’s luxury brand. “Courchevel is the Monte-Carlo of winter, Europe’s most sought-after ski destination for high-end clientele,” he said. “Our location directly on the slopes gives us a unique advantage, offering visibility and accessibility that few competitors can match.”
The hotel is surrounded by iconic establishments like Cheval Blanc and Les Airelles but stands apart as the only slope-side property. With nightly rates expected to exceed €3,500, it caters to an elite clientele and capitalises on the increasing demand for larger suites and enhanced amenities.
Valeri highlighted the long-term value of this investment, especially with Courchevel set to host alpine skiing events during the 2030 Winter Olympics. “This project is not just about luxury; it’s a strategic asset. The Olympics have already boosted the property’s value, and major groups are eager to secure it for key weeks,” he added.
The hotel is scheduled to open for the 2026–2027 winter season, with construction set to begin this spring. It will feature two restaurants, a Monte Carlo-style lounge, one of Europe’s most exquisite mountain spas, and a kids’ club, ensuring it meets the expectations of its discerning guests. “This investment aligns perfectly with SBM’s legacy of excellence,” said Valeri, confident that Courchevel will cement its place as the ultimate winter destination for SBM’s clientele.
A strong start to 2025
SBM’s ambitious plans are already in motion, with the public launch of Marlow, a new seafront restaurant on Princesse Gabriella in Mareterra, set for 16th January. Described as an Anglo-Saxon club with luxurious decor, the venue will offer all-day dining from breakfast to dinner and is poised to become a favourite among locals and visitors alike.
Reflecting on the company’s progress, Valeri shared his optimism for the year ahead: “We’ve just closed 2024 on a high note, and 2025 is already shaping up to be a milestone year for SBM. The projects we are undertaking represent more than just investments; they are a testament to our belief in the enduring appeal of Monaco and the strength of SBM’s legacy.”
See also:
New British restaurant Marlow set to open in Mareterra this January
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Main photo: Monte-Carlo Beach, credit: Cassandra Tanti, Monaco Life
