The Sardinian Iti Marina group recently took the Cagliari Hotel Panorama at auction for €8.3 million.
The new 4-star hotel will have 100 rooms
Inaugurated in 1982 the 100-room, 4-star property was for years one of Cagliari’s leading establishments, but recently suffered the repercussions of the pandemic crisis. The hotel has in fact been closed since 2021 as the previous owner had accumulated debts of over €10 million.
The Iti Marina Group has 35 hotels in Sardinia
The property on 2,300 sqm on eleven floors also has a swimming pool, a bar and a fitness room. The Iti group, led by brothers Piero and Francesco Loi, now plans to renovate the hotel and open a restaurant on the top floor. The Orosei-based company currently manages a portfolio of 35 hotels, all in Sardinia.
