With the opening of Casa Baglioni a few days after the group's return to Milan, the company led by Guido Polito ends up under the control of the Mexicans of Palace Resorts, the Luxury Resort powerhouse which acquires 75% of the Italian company. The agreement will allow the Baglioni brand to expand further on the U.S. market, which accounts for roughly 70% of Palace Resorts' business, which currently is ten properties in Mexico and the Caribbean.
Further expansion in Europe
For the Chapur family-controlled group it means adding a luxury brand with a consolidated presence in Italy, as well as in London and the Maldives. The aim is to expand further in Europe, as well as through acquisitions operated by Palace Resorts' own real estate division.
Key international destinations
"I am honoured that the Chapur family has recognised Baglioni Hotels & Resorts as one of the leading European luxury brands, and has seen the brand's development potential in Italy and other key international destinations, - says Guido Polito, the Italian company's CEO. - Choosing to remain at the helm of Baglioni will allow me, along with vice president Giuliano Rocchi and the entire management team to carry on the work started by my father Roberto."
Increasing investments in Europe, Asia, and the Middle East
"We will increase our investments in Europe, Asia, and the Middle East, while bringing our Le Blanc and Moon Palace brands to these regions," says Gibran Chapur, executive vice president of Palace Resorts.
