Financial notice as of April 30, 2024

The Majestic Hotel Real Estate and Operating Company has published its financial results for the first half of 2024. The balance sheet shows certain developments compared to the previous year.

In accommodation, the hotel was open 132 days, or 9 days more than in 2023. The occupancy rate decreased to 41.56% compared to 48.56% in 2023. However, the average revenue per room slightly increased. increased by 2%. As a result, accommodation revenue decreased to €8.1 million compared to €8.7 million, with a RevPar of €176.77 compared to €203.30 in 2023.

Food and beverage turnover also fell, reaching €5.4 million, a decrease of 6.77%. Other revenues, including store rents, SPA and room rentals, amounted to €4.1 million.

The half-year result shows a deficit of €1.1 million, up from -€0.5 million the previous year. This situation is attributed to the seasonality of activities and a payroll increasing by 11.2%, despite a reduction in operating expenses of 5.8%.

The outlook for the summer looks favorable thanks to the sustained activity of May and June, marked by the Cannes Film Festival and Cannes Lions.