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The former Hilton Garden Inn Milano Malpensa is the debut property of the Dolce Hotels & Resorts brand. 

The Milan Malpensa property is the US group’s 4th in Italy

Prodea Investments acquired the 207-room hotel in July 2021 from Aquileia Capital Services (a Bain Capital Credit company), entrusting its management to the Greek hospitality company Zeus International. The latter then carried out a rebranding of the hotel, which is now called Dolce by Wyndham Milano Malpensa, and it is the US group's fourth property in Italy. Wyndham acquired the business travel-oriented Dolce brand in 2015 for $57 million.

Published in Hospitality

Zeitgeist Asset Management is focusing on Italy and has acquired the Midas in Rome. This is its second investment in Italy, following last June's acquisition of an office building in the capital. 

The Midas is a four-star hotel with 349 rooms in Rome’s Aurelio district

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The Czech property management and development company arrived in Italy last year, thanks to a joint venture with Filippo Bianchini-Scudellari and Sebastiano Canessa. The aim is to invest up to €500 million in Italy, also through the contribution of German institutional funds. The Midas in Rome is a four-star hotel with 349 rooms in the Aurelio district. It has three restaurants, a lounge bar and cocktail garden, a conference centre, rooms for events and meetings, an outdoor swimming pool and tennis courts.

“It is a good mix of midweek and weekend business and leisure guests”

Filippo Bianchini Scudellari co founder e AD Zeitgeist Asset Management Italia Midas
Filippo Bianchini Scudellari co founder e AD Zeitgeist Asset Management Italia 

"We believe that this operation is a positive signal for a market that is currently in a wait-and-see phase, with operators trying to understand possible evolutions," said Filippo Bianchini-Scudellari, co-founder and managing director of Zeitgeist Asset Management Italia. "This is our first Roman property, and it is a good mix of midweek and weekend business and leisure guests. It is also in an interesting location thanks to the expansion project for Fiumicino airport, where a new terminal, two new runways and services are planned, allowing the airport to handle up to 100 million passengers a year.”

Zeitgeist operates in residential, offices and urban development

Zeitgeist Asset Management was founded in Prague in 2014 and develops and manages real estate assets for private and institutional investors in Germany, Central and Eastern Europe, and Italy.  The sectors in which it operates are residential (with over 700 flats under management), student residences (over a thousand beds under management) and offices, as well as in urban development and energy solutions. The company manages over 45 real estate projects and has assets under management worth over €800 million.  

Published in Business

The Spanish Palladium Group is to launch its Only You Hotels brand in Venice, with an urban hotel.

After renovations the 5-star hotel will have 168 rooms

The launch will follow renovations, and the re-branding of an existing five-star hotel, with 168 rooms and various F&B putlets, including a panoramic terrace. The Palladium group recently announced its Venice Only You Hotels property investment at Fitur in Madrid, following the signing of the leasing contract for the property which is due to open in 2025.

The design project is by the international Lázaro Rosa-Violán studio

Other new developments include the inauguration of another Only You in Seville planned for the first quarter of next year. This property is currently undergoing renovations and will be a 226-room 5-star hotel with a wide range of restaurants and event spaces, including a large outdoor swimming pool. Both interior design projects, in Seville and Venice, are by the international Lázaro Rosa-Violán studio.

Published in Hospitality

The new Casa Clàt, which has just opened in the heart of Cagliari, has of nine suites, a restaurant and a bar and has a Mediterranean style.

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Casa Clàt is themed on the Mediterranean

In spring the secret garden, an outdoor living room with the best raw fish on the island, will also make its debut. The hotel is owned by Caterina and Claudio Murgia, former administrators of Nieddittas, a company specialising in mussel farming. The theme that inspired artistic director Giorgio Casu is the Mediterranean with its corals and dunes, and he collaborated with Sardinian artists Carolina Melis and Mauro Patta for the frescoed walls, graphic works and handmade tapestries.

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Each room has a surprise feature

Each suite of Casa Clàt on the three floors has a suspended king-sized bed, parquet flooring, exposed beams and custom-made furnishings. And in each room there is a surprise, such as the hot tub in the centre of the Smeraldo Suite or the circular bed in the Isola Suite. In the Eclàt, on the top floor, modernity and vintage combine and in the main bedroom, just behind the canopy bed there is a mural. The Torrino is the highest point of the building: a unique space that can be reserved for a romantic dinner or a private event with a 360-degree view of Cagliari and the sea.

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The Mediterranean Restaurant is open for lunch and dinner

The entrance on Viale Regina Margherita gives direct access to the public areas including the lounge bar which is open from the morning for gourmet breakfasts, a quick lunch or an aperitif accompanied by tasty delicacies. The Mediterranean Restaurant is open for lunch and dinner, and helmed by the young executive chef Filippo Monaco, under the guidance of Umberto Vezzoli, a globetrotting chef who has spent his career at the helm of kitchens in prestigious restaurants and hotels.

Published in Hospitality

Alessandro Caristo is to take over as general manager of the new Nolinski Venezia, the new luxury lifestyle hotel of the French Evok Group, due to open this year. 

Experience in Swiss and Italian hotels

Born into a family of hoteliers, Alessandro Caristo graduated from hotel management schools in Stresa and Milan and began his career in 4 and 5-star hotels in London, Switzerland and Italy. With over ten years of experience front office and in food & beverage and sales, Caristo got a master's degree in tourism economics and management from Ca' Foscari University in Venice. He subsequently held management positions in Italian and Swiss hotels, including his stint as director of the Cipriani hotel in Venive, shortly before joining the Evok Group and taking over as general manager of the new Nolinski Venezia. 

Evok also has the Brach and Sinner brands

Owned by Pierre Bastid, the Evok Group is the brainchild of Romain Yzerman and Emmanuel Sauvage. The aim of the three co-founders is to create new lifestyle approaches and holiday destinations that change the rules of the game in the field of luxury hospitality. In addition to the Nolinski brand, the company also boasts the Brach and Sinner brands, as well as other independent restaurants and properties. It currently operates six branded properties. Coming soon, in addition to the new Nolinski Venezia, are the Brach in Madrid and Rome, scheduled to open in 2024 and 2025 respectively.

Published in Hospitality

In what may appear to be a contradiction in terms but in the short-term rental market the demand for medium-long term rentals (i.e. more than 30 days) is growing. 

Mid-long term stays from 2021 to 2022 are up by more than 30%

This is highlighted by the specialised company Halldis in an ad hoc study conducted on a sample of 500 apartments in Bologna, Florence, Rome, and Milan. Bookings for mid-long term stays from 2021 to 2022 have increased by more than 30%. Increasing from six to fifteen in Bologna, eight to forty-six in Florence, 28 to 117 in Rome, and 39 to 143 in Milan. The average duration data is interesting, as it decreases slightly in Bologna (from 149 to 60 days), moderately in Milan (from 129 to 125 days), and slightly in Rome (from 104 to 100 days) from 2021 to 2022. On the other hand, the average daily price rises significantly in Florence (from €67 to €86), modestly in Milan (from €93 to €95) and Rome (from €85 to €87), and at a faster rate in Bologna (from €32 to €57).

There is a recovery in short-haul rentals 

Vincenzo Cella managing director Halldis 1
Vincenzo Cella managing director Halldis

“The increase in demand for long-medium term stays goes hand in hand with the recovery of the short-term rental sector in general,” says Vincenzo Cella, Halldis managing director. “And the fact that the dynamics of average duration and prices intersect in a consistent manner, with the former decreasing albeit slightly and the latter always increasing slightly, suggests that this trend will continue.  

“Owners should also consider flexible forms of duration between short and mid-long term”

“The demand for medium-long term rentals reflects a new way of living and working,- says CEO Michele Diamantini,  - from smart working to the emergence of so-called bleisure travel. There will be   an increasing demand for the professional management of buildings and properties, as well as homes built and furnished for these purposes, possibly supplemented by common areas, services for family sports activities and cultural interests. This trend will develop not just in historic downtown areas, but also in secondary locations, such as smaller lakes or mountains.  And owners should also consider flexible forms of duration between short and mid-long term.”



Published in Hospitality

Tetris Italia is the general contractor for the construction of the W Florence, the Jll group company winning the contract  for 119 rooms, annexed facilities, a roof garden and work on the façades of the ex Grand Hotel Majestic in Florence.

Close to Florence’s railway station

Owned by the Tuscan company Progetto Majestic, the property is in Piazza dell'Unità d'Italia in the city's historic centre, close to Santa Maria Novella Station and the central Via de' Tornabuoni. The complete redevelopment will unify the various existing buildings into a single 5-star unit. The building has six floors and three basement levels, and  renovations will focus on the environment and wellness as expressly requested by the owners and sole director Roberto Puccini. 

“The project will be a new contemporary city landmark” 

The project also includes a new ground living and reception area, a lounge bar and a restaurant, which will be developed around a partially covered inner courtyard. The lower floors will have a spa & wellness area, a meeting and event space, and technical and service areas, and work on the site has just started.

“The conversion of the former Majestic hotel into a luxury hotel is an example of the appeal of Italian cities like Florence. We are thrilled to be part of this project, which aims at become a new contemporary landmark for the city.”

Published in Hospitality

As investor interest in Italy grows for value-added hotel operations, the world of institutional investors has good news for the future of the Italian hotel industry. 

Investors are attracted by Italy’s hotels

With the asset class of hotels receiving a lot of attention, it is attracting a lot of capital according to Cbre Italy's Francesco Calia, who says just over €1 billion were invested in hotels in the first three quarters of the year (roughly last year's levels), for a total of 8.8 billion in the last five years (including the annus horribilis of 2020).

Strong focus on the four primary markets

Italy ranked fifth in Europe for hotel investments in the first nine months of 2022 (as it did in the same period in 2021), despite being the seventh market in Europe for commercial real estate. An examination of the last five years' historical trend reveals a growing emphasis on value-added hotel operations (mainly for conversions from other uses, such as offices, or the major repositioning of existing hotels). These account for 70% of transactions in the first nine months of 2022, with a strong focus on the four primary markets (Rome, Milan, Venice, and Florence), which now account for around 60% of transactions. Investment in resorts is also growing and will account for some 35-40% of the volume invested in hotels in 2020.

Luxury conversions in sea, lake, mountain, and rural areas

The excellent recovery recorded during the summer season and subsequent months, particularly for the luxury leisure segment (in Rome, for example) and in resorts, has fueled investor interest in sea, lake, mountain, and rural properties. The most significant transactions this year have been in luxury conversions in Rome and resort destinations, including the future Four Seasons Rome in Piazza San Silvestro, the repositioning of the Majestic in Via Veneto in Rome, and the rebranding of the Savoy in Cortina d'Ampezzo.  

“Cbre is focusing on three luxury-lifestyle developments in the centre of Rome”

The ongoing development in the luxury and extra-luxury sectors, as well as the openings of international hotel chains in this range, suggest an ambitious investment pipeline for the next 18/24 months, despite rising raw material and construction costs. “At Cbre we are focusing on three luxury-lifestyle developments in the centre of Rome that are expected to close in the first half of 2023, for a total value of over €500 million euros. International capital will continue to dominate the Italian hotel investment market” adds Calia. 

Further REVPAR growth and interest in secondary urban destinations 

In terms of management performance urban hotels are expected to achieve further REVPAR growth although operators do not anticipate further increases in average rates this year. The expected recession may have a greater impact on corporate demand (restrictions on business travel are already in place), with ramifications for secondary urban destinations with a strong business vocation and for midscale/upscale properties. Leisure demand in Italy, on the other hand, is expected to go on growing thanks to international markets and  the great Italian art cities of Rome, Venice, Florence  with upper-upscale and luxury properties benefitting most.

Published in Hospitality

The Pullman brand is returning to the Timi Ama in Villasimius. It will join the Almar brand, which replaced the historic Accor brand last November, following the acquisition of management of the Sardinian property by the Hnh Hospitality Group. 

The new Pullman is the Almar Timi Ama Resort & Spa

Now the Hnh Hospitality Group has signed a franchising agreement with the French company for the Villasimius Timi Ama, and it is now called Pullman Almar Timi Ama Resort & Spa in view of its opening next May for the summer season.

“Our expansion towards strategic locations, that reconcile leisure with conference and wellness tourism”

"We are particularly pleased to collaborate in this new management in Sardinia with a major player such as Accor," said Hnh Hospitality’s CEO, Luca Boccato. "The management of a historic property such as the Pullman Almar Timi Ama Resort & Spa represents a new and important step in our expansion towards strategic locations, that reconcile leisure with conference and wellness tourism. This partnership is also further proof of the credibility that our group has achieved with all the major international brands hospitality with which we operate".

Published in Hospitality

Located in the heart of South Tyrol, near Campo Tures, the Olm Nature Escape will be the name of the new green hotel project launched by the Carron holding company, which heads the real estate company Carron Bau.

Unicredit’s first green minibond in Europe

The 12 million project was initially underwritten by UniCredit was a Green minibond for €3 million. The transaction, with a duration of 60 months and verified by Cerved is the first in three tranches of the bank’s first green minibond in Italy. The second, for a further €2 million will be issued by UniCredit in 2023. Completion is scheduled for the winter of 2023.

The hotel will have 25 units with private spas

The hotel will be a model of hospitality with 42 units, 25 of which will have private spas, and a series of integrated services like signature restaurants with an on-demand format. A geothermal plant will heat the entire structure, while a photovoltaic system will provide the energy. The 2-storey circular building is open on one side and the courtyard will be a natural area with an orchard and a water feature.  Olm in South Tyrolean dialect means alpine pasture and meadow, but it can also refer to the infinity of time.  

Published in Business
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