Grand new Café de Paris project delayed

café de paris reopen

Reconstruction works on the iconic Café de Paris in Casino Square are taking longer than expected, putting the highly anticipated project back a few months.

It was announced in March 2022 that the Monte-Carlo Société des Bains de Mer (SBM) would embark on an ambitious €40 million remodelling of the Café de Paris, expanding its footprint considerably to include a new rooftop restaurant called Amazonico, luxury boutiques, as well as the renowned Café de Paris Brasserie.

But as the new Chairman of the Monte-Carlo Société des Bains de Mer Group, Stéphane Valeri, announced to the managers of the construction site this week, the company’s projection of 16 months for a delivery date in July 2023, was “optimistic”.

In a press release, the SBM said that the open date “did not take into account possible setbacks which could be encountered in this type of construction. These uncertainties were added to by the difficulties linked to the international context, relating to the supply times for many materials.”

The global supply chain for the building industry suffered significant disruptions during the Covid-19 pandemic, and the ongoing war in Ukraine has further strained the supply of certain raw materials in Europe.

The opening of the Brasserie Café de Paris has therefore been postponed to the end of October 2023, and that of the Amazonico restaurant “to a later date”.

“At the instigation of the President-Delegate, all the departments of the Monte-Carlo Société des Bains de Mer group are hard at work to optimise this timeframe, both in terms of the final conduct of the site and in terms of management personnel provided for the operation of these establishments,” concluded the company in its statement.

The Brasserie of the Café de Paris will remain in its temporary position in the Salle Empire of the Hôtel de Paris for the duration of the work.

 

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SEE ALSO:

Welcome to the jungle: First look at the Café de Paris’ new rooftop restaurant, the Amazónico

 

 

Photo of the new-look Café de Paris courtesy SBM

 

Monaco yachting: Another record year for the books

Following the significant and unprecedented interruption of Covid-19 and a challenging international economy, the global yachting sector not only recovered in 2022, but thrived.

The global yachting sector continued to demonstrate impressive resilience in 2022, despite facing the ongoing fallout of the Covid-19 pandemic as well as new economic challenges. This is particularly true in Europe, where over 60% of the global yachting industry is concentrated in the region, with Monaco remaining a central hub thanks to continued government investment and support.

After a tumultuous 2020, the global yachting industry saw an impressive rebound in 2021, with many wealthy individuals turning to yachting as a way to enjoy socially-distanced vacations. At the same time, post-Covid, there seemed to be a greater appreciation that life is uncertain and there was even greater emphasis placed on spending quality leisure time with loved ones.

The sector was valued at $8.91 billion, according to a recent report of global yacht sales, with the United States, Italy and France leading the market. In 2022, the market saw much of the same, with North America continuing as the fastest-growing market worldwide and Asia Pacific emerging as the next promising regional segment, both in yacht brokerage and new build sales.

According to Monaco-based brokerage firm Northrop & Johnson (N&J), the superyacht industry has approximately doubled in size in recent years  , with many brokerage firms reporting particularly successful results in the years following Covid-19. Many of the most reputable superyacht shipyards have also seen unusually high demand post-pandemic. According to the Global Order Book published by Boat International Media, the number of superyachts under construction in 2022 superseded the previous year, with 1,024 new build orders signed in total in 2022, compared to 821 in 2021—an increase of 24.7%. These shipyards also report double-digit growth and construction backlogs beyond 2026.

N&J, in particular, outperformed the sector growth enormously, having sold over 41% more of its own listings than its nearest competitor and selling almost one yacht every 48 hours in 2021.   In 2022, the company enjoyed its most successful year in history.

“2022 was a landmark year for the global superyacht industry, for yachting in Monaco and for Northrop & Johnson,” said Patrick Coote, Managing Director EU of N&J. “More yacht owners chose to list their yachts for sale with us than any other brokerage company worldwide. Sales, charters yacht management and crew recruitment were all off the charts. We were all expecting a gradual slow-down but demand remained high throughout last year and the buyers just kept on coming,”

In parallel with the strong sales of both new and second-hand luxury yachts, the yacht charter sector also saw impressive results. Thanks to consistent growth in the High Net Worth (HNW) population as well as the post-lockdown revenge travel phenomenon, the demand for superyacht charters has never been higher. Zelda Swindell, Charter Marketing Manager for N&J notes that the global charter fleet is now coming under increased pressure not only from rising demand but also due to superyacht owners who are increasingly reluctant to put their vessels out to charter, preferring to be onboard themselves, thereby creating a supply shortage.

“It’s really a seller’s market at the moment,” Zelda explained. “For owners looking to put their boat out to charter, there are so many opportunities. Charterers are desperately looking for good boats in an increasingly limited market, so it’s certainly an easier sell than usual!”

Monaco’s place in yachting

Having established its position as a significant international yachting hub, the Monegasque government continued to provide significant support to the sector. The last 12 months saw the local industry reach new heights, with over 1,400 yachting-related jobs in the Principality alone and an estimated annual contribution of over €750 million to the local economy.

“Yachting is a key part of Monaco’s commercial activity, not only providing revenue to the State but one of the major employers and a big draw for tourists,” said Ed Dickinson, a Yacht Broker based in the Principality. “I anticipate Monaco’s status as the yachting capital of the world will continue well into the future.”

Looking ahead

As for what the next 12 months will bring, industry insiders and commentators all agree that sustainability will play a key role in shaping the sector.

“New, younger clients are undoubtedly more environmentally-aware. Their requirements, coupled with increasingly-strict legislation, means that the designers, builders and crew are having to adapt to new ways of working, new materials, new designs and new technologies with less of a carbon-footprint and a smaller negative environmental impact,” concluded Patrick Coote.

 

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Photo source: Northrop & Johnson

 

Babek Kebab: the new fast-casual restaurant in Monaco by Riccardo Giraudi

Monaco’s foodie entrepreneur Riccardo Giraudi has done it again, this time bringing the beloved Greek kebab to Monaco with his new fast-food concept, Babek.

Whether you call it a kebab, or a souvlaki, chances are you are craving one of these international favourites right now.

That’s what restauranteur and entrepreneur Riccardo Giraudi is banking on with the launch of his latest ‘fast-casual’ food concept.

Located on rue Princesse Caroline in Monaco, Babek Kebab features an open kitchen with a traditional tandoor oven to bake the restaurant’s fresh flatbreads. Customers can choose their own garnishes, from spit-roasted veal to crunchy falafels, and all the classic toppings including a signature Babek sauce. There are also some delicious sides which we will let you discoveer for yourself!

“Here, nothing is superfluous – no fresh cheese or aromatic herbs to look pretty. Just taste, freshness, and quality in a playful and quirky atmosphere,” the restaurant’s marketing claims. “Babek is the new hot spot in Monaco that will delight everyone. Meet every day to discover a new culinary genre, and generous and gourmet street food.”

Riccardo Giraudi and his company, Giraudi Group, are behind some of Monaco’s most successful restaurants, including Beefbar, Song Qi, Mozza, and Grubers Monaco, another fast-casual concept.

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SEE ALSO:

Interview: Restaurant guru Riccardo Giraudi

 

Photo credit: Cedou

 

How did Monaco and the French Riviera rate in the 2023 Michelin Guide?

The 2023 Michelin Guide was presented on Monday, revealing that one restaurant in the French Riviera has picked up its first Michelin star, while further accolades have been awarded to the region’s most prized restaurants including Mirazur and Le Louis XV.

The world of gastronomy’s most coveted accolades were handed out on Monday during a special ceremony in Strasbourg in front of 1,500 guests, including 550 chefs and 300 students.

Making the cut in this year’s Michelin Guide are 630 starred tables across France and Monaco, including 44 new additions in France: one three-star, four two-star and 39 one-star restaurants.

In a major nod to the fine dining restaurants in Monaco and the French Riviera, all of the relevant establishments kept their stars, including three-starred Le Louis XV – Alain Ducasse at the Hôtel de Paris, and Le Blue Bay at the Monte-Carlo Bay Hotel and Resort, which last year picked up its second Michelin star.

Pavyllon Monte-Carlo, a restaurant by Yannick Alléno at the Hôtel Hermitage, retained its star, as did Le Grill in the Hôtel de Paris, La Table d’Antonio Salvatore and Yoshi at the Hôtel Metropole.

Surrounding Monaco, La Chèvre d’Or in Eze, Hostellerie Jérôme in La Turbie, and Flaveur in Nice had their two Michelin stars confirmed for another year, while Mirazur by Mauro Colagreco in Menton maintained its three Michelin stars and one Michelin Green Star. The restaurant’s Pastry Chef Marius Dufay also helped the Mirazur pick up a prize in the Passion Desserts category this year.

The only restaurant in the French Riviera to receive its first Michelin Star is Château Eza in Eze (pictured above), a 50-seat gourmet restaurant in the medieval hilltop village offering refined French and Mediterranean cuisine prepared by Chef Justin Schmitt, and exquisite views over the coastline.

Meanwhile, Claire Sonnet from Le Louis XV – Alain Ducasse in Monaco received the Service Prize, delivered by the culinary legend himself.

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Photo source Chateau Eza

Football: Wasteful Monaco slip to late draw at Troyes

AS Monaco conceded an injury-time equaliser against Troyes on Sunday after having fought their way back into the game in the dying stages thanks to a Wissam Ben Yedder brace.

Les Monégasques were looking to bounce back after consecutive defeats, firstly to Bayer Leverkusen in the Europa League, and then against local rivals OGC Nice at the Stade Louis II last weekend.

“We lacked a finishing touch”

Philippe Clement’s side will be made to rue missed chances against relegation strugglers Troyes. Monaco arguably should have put the game to bed in the first half with good chances falling to Aleksandr Golovin and Ben Yedder, however, they ultimately went back to the dressing rooms with a deficit.

Romy Kouamé scored for Troyes in one of the very few rare ventures into the Monaco half, leaving the Principality club in need of at least two goals to take the three points away from the Stade de l’Aube.

Monaco could have been two behind if not for a crucial intervention from Axel Disasi, who saved Abdu Conté’s effort off the line. Clement’s side made use of their second life. With the minutes ticking away, Ben Yedder, culpable of missing a few chances earlier on, netted a quickfire double to put Monaco on the brink of victory.

However, in injury time, Iké Ugbo, rose highest to head past Alexander Nübel to draw the scores level at 2-2. Both sides ultimately take just a point away from a fixture that could have gone either way.

Monaco maintain podium place

“It’s frustrating because if we had been more lucid in the final action, by playing like we did in the second half throughout the match, the result would have been completely different. We need to concentrate over the course of the 90 minutes, not just for a period of the match. We had more chances, but we lacked a finishing touch, ” said Clement post-match.

Despite Monaco’s failure to beat the relegation-struggling Troyes, Monaco remain on the podium as RC Lens drew against Lille OSC in the Derby du Nord on Saturday. Monaco next face Reims at the Stade Louis II next Sunday.

 

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Photo by AS Monaco

This Week in Monaco Podcast: 2nd March

The Monaco Life journalists behind the headlines this week talk Monaco real estate, whisky investment and passion spending habits, binge watching Netflix’s new Drive to Survive series, Monaco football club management becoming a Russian family affair, and how we figured out which F1 drivers actually live in Monaco.

Featuring Editor in Chief: Cassandra Tanti, Editor and Journalist Elsa Carpenter, News and Lifestyle Journalist Stephanie Horsman, and Sports Journalist Luke Entwistle.

To listen to the podcast, simply click play in the box below…