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Cannes’ Famous Hotels Have Undergone More Than $1 Billion in Renovations

Historic hotels in Cannes have invested about $1 billion in renovations for five-star accommodations this year.

"We went to sleep a bit," Michel Chevillon, head of the Cannes hoteliers union, told Associated Foreign Press. "Bookings didn't fall but there was a drop in customer satisfaction levels. And then the big international chains arrived. So to keep our share of the market, we had to get it just right.

Last year, the historic waterfront Martinez Hotel re-opened after a $168 million (€150 million) renovation, which shut down the hotel for four months. Today, it’s the biggest hotel in town, with 409 rooms. The old hotel was previously decorated in dark tones. Today, it’s all white and pastels alongside its art deco architecture to bring more of the sunshine from the seaside city in. Nightly rates for the hotel’s suites in the summer months can reach up to $38,00 (€34,000). During the festival, nightly rates soar to an undisclosed amount.