Half-year performance of the Hotel Majestic in Cannes

The half-year report from the Société Immobilière et d'Exploitation de l'Hôtel Majestic reveals an increase in revenue, reaching €20.35 million, compared to €18.19 million in the previous six months. Operating income also rose to €21.1 million, while expenses increased to €24.57 million, resulting in a negative operating result of €3.47 million, although this represents an improvement compared to the previous loss of €4.64 million.

The occupancy rate saw a significant increase, reaching 45% compared to 35.7% the previous year. However, the average revenue per room decreased slightly by 0.8%. Revenue from food and beverage sales grew by 11.3%, reaching €5.8 million.

Despite an increase in revenue, the company remains cautious for the summer due to the international context and competition.