Emaar Properties has acquired one of the most prestigious addresses in Forte dei Marmi: the 46-room five-star Grand Hotel Imperiale.
The hotel is just 200 metres from the sea
Also in the €40 million deal is the private Remo Beach bathing establishment. Located 200 metres from the sea, the Grand Hotel Imperiale also features a relaxation area, spa, fitness space, sauna, Turkish bath, outdoor pool, and covered parking. The property was sold, according to the daily newspaper La Repubblica, by the Russian family office Luxury Hotel Development, which in turn had acquired the hotel three years ago for €35 million, entrusting its management to Panoram Hotel Management, which also operates the Palazzo Castri in Florence.
A light restyling before the summer
Led by founder and chairman Mohamed Ali Alabbar, Emaar Properties is one of the leading real estate players in the Emirates, having among other things developed projects such as the Burj Khalifa and the Dubai Mall. According to rumours the Tuscan property could undergo a light restyling before next summer, and then a more structural intervention scheduled for later in the year. Panoram Hotel Management should continue to manage the hotel
