Since 1929, the Palm Beach in Cannes had been the place to meet for high society. World renowned artists appeared there and spectacular meetings were organised there. After the second world war the Palm Beach had to be renovated and the frenetic social whirl of the pre-war years continued. Unfortunately, the good times finished and 1991 signalled the end for this establishment. The Partouche Group decided to take over the venue to bring it back to its former glory and launched it in 2002. In spite of all the financial input, the Palm Beach has had disastrous results since it opened.Even in the face of this failure, the Partouche Group which is the second largest casino group in France, has decided not to give in and wishes to re-launch this mythical venue. To this end it has decided to put into action with the Cannes Town Hall and the Trade Union of the owners of the Pointe Croisette, a major project which should cost the colossal sum of more than 100 million euros. For the moment, the three parties have agreed on the new items: a huge several thousand seat theatre, a luxurious sea facing hotel and several restaurants including some gourmet restaurants. The swimming pool will also be renovated.
After the summer, tenders will be put out but it is already known that two French groups and Russian and Saudi groups are interested. Each of the applicants’ projects will be studied in detail and these should not propose major modifications. The changes to the Palm Beach must respect the history and identity of this prestigious site. Moreover, the investor should have an exemplary reputation and most important be solvent.
One must wait a few months more before discovering the name of the chosen tender. Lets hope that this vast renovation project will allow the Palm Beach to become one of the top places on the French Riviera.