Hotel Majestic Cannes-Societe Immobiliere et d’Exploitation (FR:MLHMC) has released an update.
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Hotel Majestic Cannes reports a decrease in occupancy rate to 41.56% for the first semester of 2024 from the previous year’s 48.56%, despite a 2% increase in average revenue per room. The company experienced a downturn in food and beverage turnover by 6.77%, and an overall half-year deficit of €1.1 million, an increase from the €0.5 million deficit in the previous period. This financial update comes with an optimistic outlook for the summer season, buoyed by events such as the Cannes Film Festival.
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