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Cannes ups the glamour with $1B facelift for film festivalAfter years of living off their glamorous reputation, Cannes's five-star hotels are getting a $1 billion makeover to make them fit to host Hollywood's A-listers. The Martinez, Cannes biggest hotel with 409 rooms, reopened last year after an "unprecedented" 150 million euro upgrade in which everything was redone.This week some 40,000 people from the world of cinema will descend on the town, among them 5,000 media professional, with hotels facing increasing competition from the explosion of private lets organized by the likes of Airbnb.Known as the Bunker, this white concrete colossus with tinted windows brings in an annual 865 million euros from more than 50 events per year, of which 190 million euros is generated by the film festival.Hastily built in 1982, it has recently undergone 100 million euros of renovation work, with a further investment of 62 million euros due by 2024, to add another cinema on the sixth floor and revamp areas around the red carpet.
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