Monaco: Hidden Treasures in the Playground of the Rich

Monaco is a dance on the senses. On the ears, one hums along to the staccato beat of a J Craft cruiser hopping over the waves, or is awakened by the throb of colourful supercars parked on every corner. On the eyes it is glamour in every colour and on the tongue some of the finest cuisine that’s ever hitched a short ride on a silver spoon. And yet the joy of Monaco is much more than just surface dressing. An important history interwoven with tales of allure, tragedy and intrigue make for a fascinating trip to this most unique pocket of the French Riviera.

Where history meets fantasy

Monaco's history dates back to when the Ligurian people inhabited the area in ancient times. It later became a Greek colony and then a Roman outpost, known as Portus Herculis Monoeci, named after the nearby temple of Hercules Monoecus. Like many important seaports, Monaco changed hands multiple times, falling under the rule of various powers including the Lombards, the Saracens, and the Genoese. In 1297 the Grimaldi dynasty made their first monumental mark on Monaco, led by the Genoese nobleman Francesco Grimaldi, who seized the fortress of Monaco from the Ghibellines by disguising himself as a monk so that they would open the gates, at which point his cousin, Rainier I, Lord of Cagnes, and his men promptly lynched the lot. Francesco died without an heir, so Rainier I took the helm, and his bloodline continues to rule Monaco to this day.

But what of the origins of modern Monaco? In the 19th century, Monaco underwent a significant transformation under the reign of Prince Charles III, who embarked on ambitious development projects to attract visitors and investors. He initiated the construction of the Monte Carlo Casino, designed by the renowned Charles Garnier, and the Hotel de Paris, which quickly became symbols of luxury and opulence. Additionally, Prince Charles abolished income tax in Monaco, enticing wealthy individuals to reside in the Principality and contribute to its growing economy.

As such, Monaco drew in the world’s elite gamblers and socialites, hosting lavish parties and extravagant events that attracted aristocrats, artists and celebrities alike. Of course, Monaco's royal heritage is central to its identity and allure. From Prince Albert I, known for his passion for oceanography and scientific exploration, to Princess Grace Kelly, the Hollywood actress who captured the world's imagination with her fairytale marriage to Prince Rainier III, Monaco's monarchs have been pivotal in shaping its reputation as a glamorous and enchanting destination.

The other major player instrumental in making Monaco a powerhouse was none other than Aristotle Onassis. The Greek shipping billionaire, rumoured to be the architect behind the prince marrying a Hollywood film star, was the majority shareholder of the Société des Bains de Mer – a purveyor of yacht clubs, resorts and casinos. As a wedding gift to the Prince and Princess of Monaco, Onassis restored a 147-foot Camper & Nicholsons yacht with a 23-foot beam and a draft of 12 feet, which the royal couple honeymooned aboard along the coasts of Corsica and Sardinia. Indeed, yachts are an iconic setting for famous love affairs. When Coco Chanel met the Duke of Westminster in Monte Carlo it was aboard his black-hulled yacht. Onassis himself held many a romance at sea on board Christina, a converted Canadian frigate.

Since the first regatta was held in Monaco in 1862 and Prince Rainier declared ‘the future of Monaco lies with the sea’ at the creation of the Yacht Club de Monaco (of which the Duke of Edinburgh and Gustaf VI of Sweden were both honorary members), the sovereign principality has become the world’s capital of yachting. Today, it is the centre of sustainable yachting. At the 33rd anniversary of the Monaco Yacht Show taking place in September, environmental issues take to the fore by partnering with environmental preservation organisations and showcasing innovations in building more responsible yachts that protects the sea for future generations.  

What to do in Monaco 

If you’re a fan of great design (you’re a J Craft fan, after all), then for the price of opening your eyes, you’ll discover gems everywhere, especially down by Monte Carlo harbour where some of the world’s finest shipbuilding expertise is on display 24/7. From striking superyachts to bespoke J Craft cruisers, the harbour is a jaw-dropping flotilla of nautical know-how. Take a stroll northeast of the harbour and you’ll come to Avenue Princesse Grace, the most expensive street in the world and the gateway to the Japanese Garden and Larvotto beach, a man-made ellipse of fine white sand that was renovated in 2021. Both are open to the public and are nice places to watch the Monégasque go about their leisurely business.

The Oceanographic Museum of Monaco is a must, with some incredible aquariums in the basement as well as brilliant exhibits.  

Petrol heads will certainly want to visit the Private Collection of Antique Cars of HSH Prince Rainier III, which has subsequently been added to by Prince Albert II and is one of the most impressive collections of rare vintage vehicles in the world. For thrill-seekers, the Grand Prix de Monaco transforms the streets of the city in the months of May and June for five days of high-speed racing on one of the most difficult circuits in Formula 1.

The Cathedral of Our Immaculate Lady, while only 150 years old, is still mightily impressive, too, being constructed from white stone brought down from the Alpine town of La Turbie, and is home to a medieval altarpiece, marble episcopal throne and final resting place of Princess Grace of Monaco.

Musical royalty can be found at the Salle des Etoiles, the host of the Monte-Carlo Sporting Summer Festival and one of Europe’s most enchanting venues. Frank Sinatra, Stevie Wonder and Whitney Houston have all previously graced the stage, showcasing everything from rock to jazz to blues to electro. With an open-air roof so the artists aren’t the only stars making an appearance, The Sporting is a symbol of cultural grandiose.

Where to stay in Monaco 

Monaco is split into four main districts: Monte Carlo, Monaco-Ville, Fontvieille and La Condamine, but when it comes to hotels, virtually all of the action is to be had in Monte Carlo and Monaco-Ville. Now, if you’re actually going to stay in Monaco, then congratulations – you’re one of life’s winners because a couple of nights at one of the top hotels is to experience the life of the top 1 per cent, but day-trippers would be better off coming from Nice or Menton.

There isn’t an abundance of options given the geography of Monaco, but what is there is exquisite. Top of our list is the Belle Époque beauty that is the Hotel Metropole Monte-Carlo, which redefines the term “opulent”. The main restaurant, Les Ambassadeurs by Christophe Cussac, was recently awarded two Michelin stars and is arguably the best table in the Principality. Other options that set the same high bar are the Fairmont Monte Carlo and the Hôtel de Paris Monte-Carlo, the latter of which has undoubtedly the best position on the Place du Casino. After a $280 million renovation and four years, the Hôtel de Paris Monte-Carlo has had quite the makeover with a 7,200-square-foot inner garden, terraced bedrooms and high-end suites. The entire Casino Square has been transformed into a thing of beauty thanks to landscape design by Michel Desvigne and artwork by Anish Kapoor.

In Monaco-Ville, your options are less indulgent and slightly more reasonable at the Port Palace, a luxurious four-star boutique hotel located close to Port Hercule, as well as the Riviera Marriott Hotel La Porte de Monaco, which has good access to the Naos and Uvita private beaches.

Where to eat and drink in Monaco

The dining scene in Monaco is ridiculous, with more Michelin stars per square mile than anywhere else in the world. The aforementioned Les Ambassadeurs by Christophe Cussac at the Metropole Monte-Carlo is fantastic, beaten only by the three-starred Le Louis XV – Alain Ducasse à l’Hôtel de Paris, but it’s hard to separate them from the other star contenders in the form of Pavyllon Monte-Carlo, un restaurant de Yannick Alléno; Blue Bay Marcel Ravin; Le Grill; La Table d’Antonio Salvatore au Rampoldi; and Yoshi. For something more low-key, head to Tip Top, an Italian restaurant on 11 Avenue des Spélugues in the middle of Monte Carlo. It’s open 24 hours a day, seven days a week, and you’d be amazed who you can bump into there, especially during the Formula 1 weekend.

Parties are somewhat limited because most of them are private and held on superyachts, but there are a handful of fun watering holes that live up to the Monaco standard. La Note Bleue is a fun dive in the summer, with a shoreside restaurant, bar and terrace with a private beach. It’s a great place to drink your weight in Château d'Esclans Garrus rosé and listen to some fine jazz from Wednesday to Saturday. For nocturnal refinement, an evening spent in the 1920s-styled Le Bar Américain in the Hôtel de Paris is non-negotiable and was the favourite cocktail spot for a certain Mr Bond in not one, but two films. The views from the terrace are some of the best in Monte Carlo, too.

The forerunner in any itinerary, however, has to be the legendary club Jimmy’z. Open and spacious with a floating bar on the lagoon in the summer, Jimmy’z attracts a celebrity clientele between the months of October and May once the holidaymakers have made their return back home.