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Month: September 2025

SBM announces luxury expansion at Monte-Carlo Bay and international ambitions in Dubai

by: Cassandra Tanti
22/09/2025

Société des Bains de Mer has unveiled a slate of strategic projects set to reshape its luxury portfolio both in Monaco and abroad, including the vertical expansion of the Monte-Carlo Bay Hotel & Resort and a new opening in Dubai. The announcements were made by President-Delegate Stéphane Valeri on 19th September, following the company’s Ordinary General Meeting of Shareholders.

One of the most ambitious developments disclosed is the planned elevation of the Monte-Carlo Bay by four floors. In a departure from traditional hotel expansion, the project will focus on creating high-end residential apartments rather than additional rooms. According to Valeri, the construction can proceed without altering the building’s existing structure, and aims to meet rising demand for luxury living within the resort footprint.

This project joins the ongoing incremental renovation programme at the Bay and Hôtel Hermitage, which has already enabled SBM to increase room rates by up to 25% on upgraded keys. The strategy is part of a broader push to optimise existing assets before launching entirely new builds.

Global ambitions: Courchevel confirmed, Dubai on the horizon

International growth is also on the table. Valeri confirmed that SBM’s Courchevel development — at the former Palace of Snow site — has cleared planning stages and is now slated to open by the end of 2027. The 5,000-square-metre project will include two restaurants, a Monte-Carlo 1863 venue, a Grill, and a Jimmy’z, mirroring the group’s Monaco flagship brands. SBM estimates a potential capital gain of €20,000 per square metre, underlining the project’s long-term investment value.

Meanwhile, the Monte-Carlo 1863 concept is set for Dubai, though the launch date remains dependent on securing a “sufficiently prestigious” location. Valeri reaffirmed the group’s commitment to Monegasque and Mediterranean identity in its overseas ventures, which will be managed via a 50/50 joint venture with its existing partner, D.ream.

Café de Paris retail boost and the next wave of real estate

In Monaco, the reopened Café de Paris complex continues to lift rental revenues thanks to a near-zero vacancy rate and new leases. But Valeri acknowledged that SBM is now approaching the income ceiling of its current real estate portfolio.

To unlock new growth, the group is preparing a major long-term urban project known as ‘the Terrasses’, which will extend from the Thermes Marins Monte-Carlo to the site currently occupied by Edmond de Rothschild Bank. The mixed-use redevelopment will include modernised thermal facilities, new residences, offices, and retail, with construction likely to begin between late 2027 and early 2028.

A full calendar and a strong start to 2025/2026

With Q1 2025/2026 revenue already up 12% year-on-year, SBM is entering the new fiscal period on solid footing. Summer activity also rose by 7%, driven by growth across all sectors, particularly slot machine gaming, which offset declines in table games.

Looking ahead, the group has scheduled several high-profile events, including the Grand Prix de la Haute Joaillerie on 25th October, the Monte-Carlo Jazz Festival, and the Gala des Étoilés on 29th November, which will coincide with the resort’s annual illumination ceremony.

See also: 

Monte-Carlo SBM posts record-breaking revenue, strong profits in latest fiscal report

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Photo source: MCSBM

 

Merrily Lustig Tornatore to join 2025 Tunnel to Towers run in NYC — this time, with reinforcements

by: Cassandra Tanti
22/09/2025

Monaco resident Merrily Lustig Tornatore will again take part in the Tunnel to Towers 5K Run & Walk on Sunday, 28th September in New York City — this year accompanied by her husband, two local friends and two US-based friends. The event, held in remembrance of first responders who sacrificed their lives in the 9/11 attacks, holds deep personal significance for Merrily, a New York native now living in the Principality.

Born and raised in New York and a longtime member of the MonacoUSA association, Merrily first ran the Tunnel to Towers solo in 2018, and returned to take part again in 2021, 2023 and 2024. This year she is bringing a small team: “I’m doing this run as a tribute,” she says. “I was born in New York, I grew up there, and even after all these years in Monaco, I’ll always be a New Yorker.”

Merrily has shared how profoundly 11th September 2001 still affects her. In a 2021 interview she described watching events unfold from Monaco, unable to reach her mother who was living in Manhattan at the time. She recalled arriving in New York a few weeks later to find a city deeply in mourning, strangers holding up photographs of missing loved ones.

A powerful remembrance: retracing the path of a fallen firefighter

The 5K Tunnel to Towers race retraces the heroic path of Firefighter Stephen Siller, who ran through the Brooklyn–Battery Tunnel in full gear to reach the Twin Towers, where he lost his life. The course has become a powerful symbol of sacrifice and community resilience. For Merrily, joining the event each year is an enduring act of remembrance.

Growing support from the Monaco community

What began as a solo effort has grown into a small movement, with Merrily rallying support both locally and abroad. This year, she’ll be joined by her husband Rémy, two Monaco residents, and two American friends, turning her annual tribute into a shared act of solidarity. “It’s about remembrance and unity,” she said. “We must never forget.”

Tunnel to Towers Foundation continues its mission

Founded in honour of Stephen Siller, the Tunnel to Towers Foundation provides mortgage-free homes and financial support to the families of fallen first responders and injured veterans. Its flagship 5K run draws tens of thousands to New York City every year, helping to fund its growing list of nationwide initiatives.

Merrily encourages friends and supporters from both sides of the Atlantic to participate, donate, or simply spread awareness of the event’s significance. “The families and friends of those who died are still with us,” she said. “That’s why we must keep talking about it — to honour the past and teach the next generation.”

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Photo provided

Football: Ansu Fati stars on Ligue 1 debut in AS Monaco win

by: Luke Entwistle
21/09/2025
Fati celebrates his goal with his Monaco team-mates at the Stade Louis II.

Ansu Fati, on his Ligue 1 debut, was the hero for AS Monaco as they swept FC Metz aside with a flurry of late goals at the Stade Louis II on Sunday (5-2). 

Monaco haven’t had the easiest week. On Wednesday, a technical issue on their plane left players and staff in a sauna, forcing them to cancel their travel plans and then travel on the day of their match against Club Brugge in their Champions League opener. Once in Belgium, it didn’t get any better as they were demolished by an impressive Club Brugge side 4-1.

With Denis Zakaria and Aleksandr Golovin also sustaining injuries that will leave them out for several weeks, it was a nightmare week that they were hoping to end on a positive note.

“12 points out of 15, it’s not bad” – Hutter

After each match this season, Adi Hütter expressed “dissatisfaction” with his side’s performance, regardless of the result. It was no different this time out. “Everyone saw that this wasn’t the best performance […] We can not be happy when we talk about the entire game. It is not good enough,” admitted Hütter post-match.

But, as it was against Le Havre, Strasbourg, Auxerre, and now Metz, the essential was ensured. “But 12 points out of 15, it is not bad,” the Monaco manager reminded us.

It could have been a lot different. Habib Diallo stunned Monaco within the first 15 minutes, latching onto a Cheikh Sabaly through ball and tucking past Philipp Kohn. Koffi-Franck Kouao then almost doubled the lead moments later, and would have done if not for a brilliant finger-tip save from the Swiss shotstopper.

Somewhat against the run of play, Monaco then equalised, finishing their first clear-cut chance of the night. It was a simple goal: Thilo Kehrer put the ball over the top, Takumi Minamino latched onto it, and then found Mika Biereth with a simple ball across the box to tuck home. “Finally,” reacted the Danish forward post-match, having got his first of the season.

Fati the tie-breaker

But Monaco looked devoid of inspiration for much of the rest of the half. That changed after the break. It was the introduction of Fati that altered the course of this encounter. He made his debut for Monaco in the heavy defeat to Club Brugge on Thursday and netted a late consolation for Les Monégasques. His impact on this encounter was more meaningful.

The Barcelona loanee needed just 37 seconds to score on his Ligue 1 debut, sliding home a Lamine Camara ball into the box. But, as has become characteristic of the Principality club in recent matches, once in the lead, they ceded control of the game. But in truth, Metz were gifted a route back into this one.

Ansu Fati celebrates his second goal against Metz. Photo credit: Luke Entwistle / Monaco Life

Minamino inexplicably pulled back Kouao off the ball in the box. Referee Stéphanie Frappart pointed to the spot and Gauthier Hein did the rest, levelling the game at 2-2. Once again, it was left to Fati to break the tie.

The Spaniard was once again well placed inside the box and leapt highest to head home a pinpoint Krépin Diatta cross. Ahead of the expected storms on Sunday night, which had already led to the postponement of Le Classique between Olympique de Marseille and Paris Saint-Germain down the coast, there was a late deluge of goals.

Ilenikhena on the scoresheet again for Monaco

The first came in fortuitous circumstances as Camara’s near-post corner was deflected and looped into his own net by Kouao. And then in injury time, George Ilenikhena lived up to his super-sub reputation, getting on the scoresheet and netting Monaco’s fifth on the night. It added a certain gloss to what was a “hard-fought win”, in Hutter’s words.

“For me, after the defeat in Club Brugge, which for me was an accident, there is a shock. You could see that we weren’t very confident, but we bounced back and we won an important game,” reacted the Monaco manager. Ultimately, it was an emphatic win, and one, Monaco hope, that will kickstart their season once and for all.

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Photo source: AS Monaco

Trott’n’Roll raises €100,000 for childhood cancer research

by: Kyriaki Topalidou
20/09/2025

Families gathered at Monaco’s Jardins d’Apolline on Saturday for the 11th annual Trott’n’Roll, with the popular charity event successfully combining entertainment with fundraising for paediatric cancer research. 

Organised by Foundation Flavien, the day offered activities for all ages including scooter circuits for children, skateboarding areas, and bouncy castles. The event also featured creative competitions, face painting stations, and a motorbike and race car display that toured Monaco’s Formula 1 track.

Moving ceremony display

At 11am, the event’s most emotional moment unfolded as Monaco firefighters performed a rappelling demonstration down a building facade. During their descent, they revealed three large portraits honouring individuals who had died from cancer.

Firefighters during their descend, photo by Monaco Life.

The tribute remembered Cécilia, a 22-year-old who had participated in early trials of the MEPENDAX treatment, alongside Michèle, a local hospital nurse, and Manuel Amoros, a fire service member.

The event’s centrepiece was the presentation of a €100,000 donation to Monaco’s Centre Scientifique by Fondation Flavien, witnessed by Health Minister Christophe Robino. The contribution will advance the MEPENDAX clinical trial, an innovative therapy developed by Monaco for treating childhood brain cancers.

The treatment has already showcased encouraging results in early trials, offering new hopes for young patients and their families. Plans are underway for a documentary about the research to broadcast on TV Monaco before the upcoming oncology conference in January.

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Main photo by Monaco Life. 

Massimiliano Mordenti completes world record attempt on bioethanol-powered jet ski

by: Kyriaki Topalidou
20/09/2025

After months of weather delays, a Mediterranean window finally opened for Massimiliano Mordenti, which allowed him to finally complete his groundbreaking world record. 

Mordenti, an official pilot with the Fédération Monégasque Motonautique and founder of the Offroad Club Monaco, successfully completed the journey from Monaco to Gallinara Island in Liguria, Italy, and back on September 15th. He departed at 1:10pm and retuned to Yacht Club de Monaco at 4:45pm.

The achievement, now pending approval from the Union Internationale Motonautique, represents the first world record attempt using 100% bioethanol for jet skiing.

Racing against time and tide

The challenge had been postponed several times due to poor weather conditions, but Monday’s conditions proved suitable enough for Mordenti and his team to take the plunge.

“The conditions were not particularly good, but the OCM team chose to go ahead with the challenge,” said organisers, driven by their determination to prove that high-performance water sports can be environmentally responsible.

Massimiliano Mordenti, his wife Erminia Fezia Mordenti and their daughters, photo credit: OCM

The technical breakthrough came thanks to a specially designed spill-proof refuelling system created by engineer Andrea Pezzini from Floating Life. Using 3D-printed recycled materials and brass fittings, the innovation allowed secure mid-journey refuelling without any risk of marine pollution.

The project was co-founded by Mordenti and his wife Erminia Fezia Mordenti, and aimed to send a broader message about combining sporting excellence with environmental sustainability. The attempt operated under the patronage of the Italian Embassy of Monaco and with backing from the Prince Albert II of Monaco Foundation.

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Main photo credit: OCM

Monaco’s new Ferrari centre redefines luxury car service with style, speed and soul

by: Cassandra Tanti
20/09/2025

In a city where space is a luxury and passion runs deep, BPM Exclusive has opened the doors to its brand-new Ferrari workshop and pre-owned showroom in the heart of Fontvieille – but this isn’t just another service centre. It’s a place designed to spark emotion, celebrate excellence, and connect a community of like-minded enthusiasts around the unmistakable spirit of Ferrari.

Positioned strategically between Rue du Gabian and Avenue Albert II, Ferrari’s new site —comprising a certified Ferrari Approved showroom and a next-generation aftersales workshop —was unveiled to the media on Friday 12th September. The opening marked a new address and a new way to engage with Ferrari.

“We had the opening cocktail on Monday to share the site with our customers,” said Guido Giovannelli, Director of BPM Exclusive. “And before that, during construction, we also unveiled a new 12-cylinder Ferrari. But now, the idea is to present this exhibition of the Ferrari collection— with different cars from the ’50s to today, because we want to give customers and prospective customers the opportunity to come and see what we’ve built here in Monaco.”

The 1,300m² facility has been designed not simply to sell or service cars, but to immerse visitors in the history, innovation, and artistry that define Ferrari, from its Mille Miglia past to its hybrid-powered present.

The new Ferrari showroom in Fontvielle. Photo credit: Cassandra Tanti

A deliberate move, a clear mission

In Monaco, where every square metre matters, opening a full-fledged workshop isn’t a decision taken lightly. Yet for BPM Exclusive, bringing Ferrari’s mechanical heartbeat into the Principality was essential, for both operational efficiency and something more intimate: proximity to the customer.

“It’s very important to have the service and mechanics right here in Monaco,” explained Giovannelli. “It was a tough decision, because as you can imagine, service requires a lot of space— and in Monaco, space is hard to find and it is very expensive. But we all agreed to have the workshop here, to stay close to our customers and serve them in the best possible way.”

The new facility has been built to Ferrari’s most exacting standards, capable of handling servicing, diagnostics, and repairs on all Ferrari models, from heritage vehicles to hybrids. Technicians trained directly by Ferrari handle the work, using only genuine parts and cutting-edge tools.

But while the quality of the service is uncompromising, the experience itself is remarkably relaxed.

“For customers living in Monaco, it’s easy to drive here, get the service done, stay with us for a bit, and then head back home. It’s almost like a Formula One pit stop!” Laughs Giovannelli. “We offer the chance for our customers to stay here during service, to see how a repair is done or how the suspension works. It’s a unique kind of moment that we can share.”

The workshop is currently exhibiting a Ferrari collection from the 50s to today. Photo credit: Cassandra Tanti

From workshop to cultural salon

The showroom doubles as an event space, and it has already been activated in ways that go far beyond automotive tradition.

“We realised we had a kind of ‘black box’ where we could create different experiences,” said Giovannelli. “We’ll be able to host F1 GP viewings, the 24 Hours of Le Mans, even fashion events or cooking classes right here using our own kitchen. Sports events too. We have this crazy idea — that it’s not just a service centre, but a place where we can share our passion and emotion.”

The ambition is to make the space a fixture of Monaco’s social and cultural calendar, not just its automotive one. The current exhibition, open until 30th September, features 21 Ferrari models, including icons like the Testarossa and 250 GT Boano, alongside contemporary flagships such as the Monza SP2 and Roma Spider.

A brand experience rooted in community

If this approach seems unusually people-focused for a high-performance marque, that’s intentional. According to Giovannelli, Monaco’s culture lends itself naturally to Ferrari’s evolving definition of luxury.

“The idea is to offer customers a complete mobility solution — selling and servicing cars is our core business — but at the same time, we want to share everything associated with these cars,” he said.

“I’m Italian, so I like to say, it’s a kind of family. I believe our role is to listen to the customer, be present, and try to always meet the level of excellence they expect from us.

Engineering tomorrow

This new facility also supports Ferrari’s broader evolution, from its expansion into new markets to the challenges of electrification and talent development. For Giovannelli, this is where brand loyalty meets technical excellence.

“Ferrari remains a very strong, consistent brand. What I really appreciate — especially through projects like this — is the level of respect and engagement they bring.”

A brand on the rise

This moment marks not just the evolution of a space, but of a strategy. Since acquiring the Monaco dealership in 2021, BPM Exclusive has grown rapidly, doubling its turnover and now representing 15 luxury and sports car brands in the Principality, making it the market leader. It is a trajectory fuelled by clear vision and unwavering ambition.

“Our owner, Patrick Bornhauser, has a clear target: to become one of the leaders in luxury and sports cars in Monaco and France, eventually Switzerland and beyond,” said Giovannelli.

See more of the Ferrari workshop in Cassandra Tanti’s video below…

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Main photo: Guido Giovannelli, Director of BPM Exclusive, credit: Cassandra Tanti