Annual results of the Hotel Majestic Cannes for 2024

Société Immobilière et d'Exploitation de l'Hôtel Barrière Le Majestic has published its annual results for the financial year ending 31 October 2024. Revenue increased by 3.4%, reaching €89.4 million. This increase is mainly explained by a 3.8% increase in accommodation revenue, despite a decrease in occupancy rate to 60.1%.

Operating income totalled 33.3 million euros, an increase of 4.3%. Net income reached 26.1 million euros, an increase of 7.1%. However, exceptional income decreased slightly. These results were obtained in a context of renovations by competitors and thanks to the increased attractiveness of Cannes.

For the future, the company will continue its activities as normal, but remains cautious in the face of global economic developments. No dividend distribution is planned.