Spear's Review

When Stéphane Valeri took over as chief executive of Société des Bains de Mer (SBM) in 2023, he assumed responsibility for Monaco’s most storied institution. The group’s portfolio – from the Hôtel de Paris to the Casino de Monte Carlo – has defined the principality’s aura of glamour and exclusivity for more than 160 years.

A former president of Monaco’s National Council, Valeri has coupled political finesse with commercial ambition. Under his leadership, SBM has begun to look outward, with plans for overseas hotels and branded residences designed to export the Monte Carlo name to new markets.

The strategy signals a new chapter for SBM: one where the Monte Carlo brand is no longer confined to the Riviera, but positioned to compete with global luxury groups from Dubai to St Barths. For Valeri, expansion abroad is about both growth and securing Monaco’s status on the world stage.

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