“Here we are given Dreams, Pleasure and Beauty”

Stéphane Valeri is a visionary business leader whose expertise and leadership have played a pivotal role in shaping the future of one of the most prestigious hospitality and entertainment brands in the world, Monte-Carlo Société des Bains de Mer (Monte-Carlo SBM). As the CEO of this iconic Monegasque company, Mr. Valeri’s influence spans the realms of luxury, tourism, and innovation.

Mr Stéphane Valeri is a Monegasque politician and businessman. He served as the president of the National Council, which is the most powerful elected position in Monaco. 

In 1999, Prince Rainier III awarded him with the Order of Saint-Charles. In 2012, Valeri was appointed to the French Legion of Honour.

Mr Valeri became Director of Monte-Carlo SBM by co-option of the Board of Directors on 23 September 2022. Just a year later, Mr Valeri was voted and appointed as Chief Executive Officer of Monte-Carlo Société des Bains de Mer.

Mr. Valeri’s long-standing commitment to Monaco’s economic development and his involvement in shaping strategic policies has been central to his career. His extensive experience in both public service and the private sector made him a natural choice to head Monte-Carlo SBM, a company renowned for its prestigious properties, including the legendary Casino de Monte-Carlo, Hotel de Paris Monte-Carlo, and the iconic Monte-Carlo Beach.

As the CEO of Monte-Carlo SBM, how would you describe the company’s role in the Monaco economy today?

“Monte-Carlo Société des Bains de Mer is Monaco’s first private employer. The group hires 4000 people, up to 5000 in peak season, among which 19% Monaco’s residents. 

The Group’s outstanding offer of casinos, hotels, restaurants and bars, real estate, and entertainment, has a real power of attractivity. Indeed, with almost 800 million euros of revenue, generated by a worldwide clientele portfolio, SBM not only contributes to the Principality of Monaco’s GDP but also to its international influence.”

Monte-Carlo SBM continues to stand as a beacon of luxury, thanks in large part to the strategic direction of Mr. Valeri. His leadership has helped ensure that the company adapts to a fast-changing world while preserving its rich heritage and legendary status in the hospitality industry.

Monte-Carlo SBM is known for its luxury hospitality and entertainment. How do you ensure the brand maintains its exclusivity while also attracting a diverse range of clients?

“The exclusivity of the Monte-Carlo Société des Bains de Mer experience has always been built on an extremely diversified clientele. From the French and British (since 1863), to Europeans, Americans, and more recently, clients for the Middle East, or Asia markets, our diversified clientele mix has always been a key factor of success, allowing the Group to be still in the game, 162 years after its birth. If we must constantly adapt our offer to our clients, wherever they are coming from, and to new trends, our clientele has always been looking for the genuine Monte-Carlo way of life, which has made the reputation of our destination since 1863. 

Indeed, Monte-Carlo SBM has always fitted to its original motto: “Here we are given dreams, pleasure and beauty”.

Among our major developments in 2025 I can share with you the first phase of the Monte-Carlo Beach repositioning, including the revamping of the Deck and the Olympic swimming pool area. La Vigie and Maona restaurants will welcome two fancy international concepts: Jondal and Sea Satin. Yet, more exciting news are about to be unveiled.”

Since 2007, the Monte-Carlo SBM Group has committed itself to carrying out numerous actions to help protect the environment by establishing its Sustainable Development Charter, whose commitments are renewed and strengthened every four years.

The 4th Sustainable Development Charter, “Go Sustainable” was signed on 27 October 2022. 

The Monte-Carlo SBM Group is committed to carrying out twenty-two concrete actions, organised around four pillars, between now and 2026.

In 2019, Monte-Carlo SBM also signed Monaco’s National Energy Transition Pact

Sustainability has become a critical issue in the hospitality sector. What initiatives is Monte-Carlo SBM pursuing to promote sustainability and reduce its environmental impact?

“Since 2007, Monte-Carlo Société des Bains de Mer has been actively committed to a more sustainable and responsible luxury, following H.S.H. Prince Albert II and the Monaco Government’s goal to reduce greenhouse gas emissions by 55% by 2030, and to achieve carbon neutrality by 2050.

We are therefore working hand in hand with the Principality of Monaco on a sustainability policy, to maximize our efforts’ impact, through the signature of Monaco’s National Pact of Energy Transition (2019), the Monaco’s Responsible Restaurant certification (2021), or Mister Goodfish certification, to give you a few examples.

In addition, we also lead our own initiatives, such as the use of geothermal loops since 1982, transforming seawater energy into air conditioning or heating within our resort, the installation of Photovoltaic panels on our property’s roofs (more than 1000 sq.m).

Then, as a key European player in the luxury hospitality sector, we also must involve our guests into sustainability path, showing them the benefit. Our clients’ experience includes, for instance, the possibility to discover the Resort by e-bike, a healthy alternative to transportation, by electric cars. You can enjoy fresh and tasty vegetables, picked at one of our gardens, a swim among fishes in a protected lagoon, at the Monte-Carlo Beach, thank to our biodiversity underwater dyke.”

What do you think are the key factors that contribute to Monaco’s status as a leading global luxury destination?

“The key factor is this special Monte-Carlo way of life Monte-Carlo Société des Bains de Mer invented at the end of the nineteenth Century, in the spirit of a VIP club under the sun. It is a concentrate of glamour, with the best offer in luxury hospitality, or real estate, gaming, restaurants, entertainment, well-being, in small, safe and enchanting place.  

A diversified offer combining history and new trends. The arrival of international restaurant concepts such as Amazonico, Coya, among others, in our restaurants’ portfolio are very much appreciated by the international high-end trendy clientele traveling all around the world and enjoying iconic addresses and new hot spots.”

What role does Monte-Carlo SBM play in the development of Monaco’s cultural scene, and how important is cultural tourism for the company?

“Monte-Carlo Société des Bains has been playing a major role in the development of arts and culture in Monaco since its launch. To give you some examples: SBM created the Monte-Carlo Opera House inaugurated in 1879, the Sporting Monte-Carlo in 1974 (in its recent version). We launched the first Monaco arts exhibitions at the turn of the 20th century. We produce and organize two yearly music festivals: the Monte-Carlo Summer Festival & The Monte-Carlo Jazz Festival. In addition, Monte-Carlo Société des Bains de Mer supports the major cultural entities such as the Monte-Carlo Ballet Company, Monte-Carlo Philharmonic Orchestra, Monte-Carlo Opera. Culture is part the Group’s DNA.”

Before stepping into the role of CEO at Monte-Carlo SBM, Mr. Valeri had already built a distinguished career in various sectors. With a background in economics, politics, and business management, he possesses a multifaceted understanding of the challenges and opportunities that come with leading one of the most famous luxury establishments in the world.

Under Mr. Valeri’s leadership, Monte-Carlo SBM has not only maintained its high standards of luxury and elegance but has also embraced modern innovations and sustainability practices. He has spearheaded initiatives aimed at adapting to the evolving landscape of global tourism, ensuring that the company remains at the forefront of offering world-class experiences.

What is your personal vision for the future of the Société des Bains de Mer, and how do you intend to continue the company’s legacy?

“My vision for the future of the company is precisely what we are actively working on. More than a vision, a road map based on three pillars:

Continued development in Monaco, to increase our revenue in the historical heart of the company. Monaco, which will remain my priority. We have just opened Marlow, a new Signature restaurant on Mareterra district, and more openings are about to come. 

International development, to provide us with additional growth drivers. This is the goal we want to achieve with our first projects, such as the launch, in November 2024, of the Casino de Monte-Carlo on Crystal luxury cruise ships, the acquisition of the former Palace des Neiges, just renamed Monte-Carlo One Courchevel, which opening is planned for the 2026/2027 ski season, or the future Monte-Carlo Club 1863 restaurant, we will open in Dubai at the end of the year, in partnership with D.ream International. All those projects will allow us to generate additional revenue especially during the Monaco lowest season, while target new clients.

CSR: I consider that a positive development must be done in the respect of our environment, our community and our collaborators. This is the path we will follow for an even better future for SBM.”

Interestingly, Mr Valeri has a long history and understanding with Monte-Carlo SBM, as he started his early career as executive assistant for Monte-Carlo SBM’s Sales-Marketing department. He was transferred a year later to the Advertising-Promotions department. Following his departure from Monte-Carlo SBM, Mr Valeri founded Monaco-based communications group PROMOCOM. After twenty-one years as Deputy Chairman (1988–2009), he resigned from his position and entered public service.

What were the most challenging moments during your career, and how did you overcome them?

“I had a few challenging moments, indeed. The first one was in 1988, when I decided to quit Monte-Carlo SBM as an employee (my first job) to create my own company, Promocom. It was a risky choice, but I was young, and having founded the Young Monégasques Association, 2 years before, I was confident that it was the good decision. I needed to take off. In parallel, I became at 25 years old the youngest deputy elected at the Monaco National Council. 

Then in 2003, I was elected President of the National Council, and I had to live up to the trust placed by the Monégasques.

Seven years later, in 2010. H.S.H. Prince Albert II called me to join the government as Minister of Social Affairs and Health. Another big and challenging move in my career, as I really wanted to contribute even more to the development of my country, in the social area notably. Important laws were enacted at that time regarding disability, or pension system, for instance.

Finally, I must mention my nomination for the position of Chairman and CEO of Monte-Carlo SBM in January 2023. A great opportunity, yet almost a challenge, as the company was at its height with record financial results we had to maintain, and which we have actually developed over these last two years.”

Finally, what advice would you offer to young Monegasques or aspiring leaders looking to make a difference in their communities, whether in business or public service?

“Be agile, surround yourself with the best collaborators, and always seek for excellence.”

Stéphane Valeri is not just a CEO; he is a visionary leader who has effectively balanced the historic traditions of Monte-Carlo SBM with the demands of a modern, sustainable, and innovative future. Under his leadership, Monte-Carlo SBM continues to thrive, offering unforgettable experiences to its guests and remaining a key pillar of Monaco’s economy and prestige on the world stage. His strategic foresight ensures that the legacy of Monte-Carlo SBM will continue to shine for generations to come.