Monaco: good figures for the SBM

The Sociétés des Bains de Mer, the largest private employer in the Principality with around 3.000 employees, has generated a rising turnover for the fourth consecutive year. For the fiscal year 200/2001, closed on March 31st, its turnover was up to 2.127 billion francs (324 million euros). It was 2.014 billion for year 1999/2000 and 2 billion francs for 1998/1999.Games, which have experienced a 2% decrease last year, are now rising (1.376 billion francs as against 1.337). hostelry has also experienced an exceptional year. With a bed occupancy rate of 74%, it keeps on growing: a turnover of 698 million francs for SBM’s hostelry part as against 652, that is to say a 7% increase. The SBM should keep on growing thanks to an investment plan of more than 1 billion francs over three years (building of a new palace, remodelling and extension of existing hotels, etc.).