The Park Hyatt Milan has a new urban spa and beauty salon, and it’s called Aquam. Located in the basement of the hotel it consists of a cozy relaxation area the leads to the other services.

These include a whirlpool bath made of gold leaf mosaic, designed to guarantee absolute privacy, a Turkish bath at a temperature of about 45 degrees, a fully equipped gym, multifunctional showers and three treatment rooms - two single and one for couples.

Advanced products and treatments

The therapists at the Aquam spa use products by the London-based brand 111Skin, containing Nac Y²: a complex comprising a trio of active ingredients with antioxidant capabilities, one of which stimulates the production of glutathione, the body's most powerful intracellular antioxidant. The flagship of the new wellness centre are the advanced treatments, including the Celestial black diamond non-surgical face lift, a truly comprehensive anti-wrinkle facial treatment.

Beppe D'Elia Hair Jewellery

A hair salon and hair jewellery

Simultaneously with the opening of the Aquam spa, the Park Hyatt Milan also saw the debut of the new Beppe D'Elia Hair Jewellery beauty salon, located on the first floor of the hotel. D'Elia expresses himself not only through his hairstyles, but also through his eponymous hair jewellery line: a collection of contemporary and unconventional jewellery, made of 18 K vermeil, that mixes sophistication with haute couture, to be worn freely on the hair.

There is Less Ciga as the Cristallo in Cortina becomes a Mandarin hotel, and the Marriott Group brand, initially created to enhance the properties of the famous Italian luxury hospitality company, continues to lose valuable pieces from its original portfolio.

After the Danieli, which will go to Four Seasons in 2025, the Cristallo in Cortina is the latest hotel to change hands, while the decision on the fate of the three jewels of the Costa Smeralda: Pitrizza, Romazzino and Cala di Volpe is expected at the end of next winter.

Reopening in time for the Winter Olympics

The Mandarin group has just announced that it has signed a long-term agreement with Attestor Capital for the rebranding and management of the Cristallo. The London-based investment management company acquired the Dolomite property exactly one year ago. Closing the second quarter of 2023, the hotel will undergo a substantial renovation and will reopen as a Mandarin Oriental resort in the summer of 2025, ahead of the Milan-Cortina Winter Olympics. 

Suites with Dolomite views

The Mandarin Oriental Cristallo will be the group's first alpine resort and will further expand the company's presence in Italy. Upon reopening, the property will have 83 guest rooms, many with balconies, including 30 suites with views of the Dolomites. It will also have restaurants and bars, flexible areas for entertainment and events, as well as a large spa and wellness facility, with a swimming pool connecting the indoor and outdoor areas. The hotel will also offer guests a wide range of activities including a fully-equipped Kid's Club.

A golden age hosting royalty and celebrities

The Cristallo was built in 1901 in Art Nouveau style by the Menardi family and in the 1930s it was a popular ski destination for Europe’s elite. After the 1956 Olympic Games the hotel entered its golden age as an upscale ski destination, hosting royalty and celebrities including Peter Sellers, Frank Sinatra, Saul Bellow and Vladimir Nabokov. The Cristallo has also been the setting for numerous award-winning films, thanks to its historic, early 20th-century grand hotel charm.

The Italian Hospitality Collection is optimistic about how the summer is panning out above pre-Covid levels. With five hotels in Tuscany, Sardinia, and Val d'Aosta, occupancy is up with both Italian and foreign tourists said Ihc group director of operations Marcello Cical.

Marcello Cicalò Italian Hospitality Collection

“The sea in particular is a top seller and in Chia Laguna, which this year saw the inauguration of Conrad Sardinia (the first Conrad in Italy), we expect important results in terms of leisure. The forecasts are also excellent for the MICE segment, which is returning to settle at pre-pandemic levels if not even higher.”

Getting back in shape in nature

According to the most recent surveys, slow and proximity tourism are also growing in mountain and inland destinations:

“The mountains and spas are a viable option for a relaxing vacation and getting back in shape in nature - says Cical - so we anticipate a very good summer at Le Massif Courmayeur in 2019.”

The best summer ever is on the way for Bagni di Pisa and Fonteverde, which are celebrating their 20th anniversary, and Grotta Giusti, which has joined the Autograph Collection (Marriott International), has just inaugurated a new spa and is appealing to American and international markets.

 

Multiple date changes with Superflex rates

Because of smart working and work flexibility there is finally a shift in summer seasonality, with strong demand not only in August but also in June, July, and September.

“The current uncertainties, such as the conflict in Ukraine and high prices, are influencing vacation choices - concludes Cical. – But the Superflex rate in all our properties gives us an extremely flexible approach to sales, allowing for multiple changes of date for up to 24 months, and up to one day before arrival.”

 

It’s official: from 2025 the Danieli in Venice will be a Four Seasons. After months of rumours and indiscretions that were never officially denied, it’s now no secret that the Danieli in Venice will be branded Four Seasons. According to the agreement reached with owner the Statuto Group, the hotel will undergo extensive renovations prior to the rebranding. The interiors will be entrusted to Pierre-Yves Rochon, who has already designed several historic properties in Europe for the Canadian company. During the renovations the property will be managed by the Statuto Group, as The Hotel Danieli, and will remain open with limited services.

Adding to the Four Seasons portfolio

“Italy is a much loved and important destination for travelers in search of high quality, and this is why we have decided to exploit the strength of this market by enhancing our properties and adding others to our portfolio, many in collaboration with the Statuto Group, a long-time partner,” says Bart Carnahan, president and global business development and portfolio management of the Canadian company.  

The Danieli consists of three interconnecting buildings: Palazzo Dandolo, which dates back to the 14th century, Palazzo Casa Nuova, which was added in the 19th century, and Palazzo Danieli Excelsior, which was added in the 1900s. The 204 rooms provide an unrivalled view of the city and the entire lagoon, there are four restaurants and bars, all with excellent views, as well as seven meeting and event spaces. The Venetian Gothic style architecture and many works of art and antiques make this one of Venice’s most prized pieces of real estate.

2022 will be the best year ever for the Costa Smeralda, says CEO Mario Ferraro. “When the war broke out we were very worried,” adds the CEO of Smeralda Holding, owner of the historic Romazzino, Pitrizza, Cervo and Cala di Volpe hotels. “The markets of the former Soviet Union were an important part of our business, up to 20% in total. In the last two months however we have seen a consistent return in domestic and European demand, especially from the UK, France, Germany, Austria and Switzerland as well as markets such as the United States, South America and the Middle East. So much so that we are now asking ourselves if this is going to be a record-breaking 2022.”

Turnover above 2019 levels. But energy is up by 60%

Smeralda Holding closed pre-Covid 2019 with a turnover of €106 million, and gross operating margins of €35 million. This year's projections are for a total revenue of €108 million and an ebitda of around €36 million. “We are feeling the inflationary pressure - admits Ferraro - especially on energy prices which have soared by 60% while food and beverages also recorded significant increases. Part of these increases are, of course, reflected in the rates, which have also risen as a result of the positive boost in demand.”

The future of the Marriott brands to be decided at the end of next winter

Among the upcoming innovations are the Cervo Tennis conversion project, in which the Japanese restaurant Zuma will open this year, and a new 35-room hotel that Ferraro has revealed will be a lifestyle brand, implying that it will not be part of the Marriott group's portfolio, to which the company's other four hotels are currently affiliated. “The decision - concludes Ferraro - will probably be taken at the end of next winter.”

A commemorative exhibition and events   

The Costa Smeralda consortium was founded on March 14, 1962, by Prince Karim Aga Khan and five other partners. Commemorating the occasion are an exhibition of 50 historical photographs, a collaboration with the Italian Post Office to create a celebratory postmark, and from July to September there will be concerts, book presentations, festivals, and various events for children. 

Sixty years on the Costa Smeralda Consortium has 3,906 members 

Sixty years ago a myth was born, when Prince Aga Khan's dream came true, commented Renzo Persico, president of the consortium.  The consortium has 3,906 members, the majority of whom are Italian, but are also Swiss, German, British, Luxembourgh, French, American, and Austrian members. The main member is the Smeralda Holding Group which owns the Cala di Volpe, Cervo, Romazzino, and Pitrizza hotels, as well as the Porto Cervo Marina.

Once upon a time there was Ciga. Founded in Venice in 1906, the Compagnia Italiana Grandi Alberghi was for almost nine decades the symbol of luxury Italian hôtellerie. Among the properties that became part of its collection there are true icons of world hospitality like the Danieli, the Des Bains, the Gritti and the Excelsior in Venice. Then the Principe di Savoia in Milan, the Cristallo in Cortina, and the three gems on the Costa Smeralda:  Pitrizza, Romazzino and Cala di Volpe. 

Ciga collapsed and in the 90s was sold to Sheraton. It then passed to Starwood which was taken over six years ago by Marriott, in what is still the deal of the century for the global hotel industry. Ciga’s prestige was such that Starwood quickly built a brand around it, based on the spirit of the Italian chain. Over time some properties took different paths, but until this year, much of Ciga's heart was still beating in the Luxury Collection. 

Then came the series of announcements. The Danieli, owned by the Statuto Group, will become a Four Seasons in 2025. The Cristallo in Cortina, acquired last year by Attestor Capital, has been promised to Mandarin Oriental, again in 2025 just in time for the Winter Olympics. And then there is Sardinia, with rumours circulating about the future of the Pitrizza, Romazzino and Cala di Volpe, and the Smeralda Holding property rethinking its branding strategies.  "A decision will probably be taken at the end of next winter," said the holding company's CEO, Mario Ferraro. Whatever the Sardinian outcome, the luxury hospitality of our forefathers is a thing of the past…

Massimiliano Sarti
Journalist

Th Resorts is aiming for green certification and 100% renewable energy: dual steps that propel the Group to the forefront of sustainable hospitality.

In line with its pre-pandemic strategies the Padua-based company has, on the one hand, adopted an international sustainability certification rating for its facilities and, on the other, come to an agreement with Dolomiti Energia to ensure that all of its energy supplies are entirely renewable.

A new sustainability impact rating

The Si Sustainability Impact rating is a new index developed by Arb, a Trento-based innovative start-up that will become a joint-stock benefit company in 2021, and is based on internationally recognized instruments such as the Sasb Materiality Map (sustainability accounting standards board), ISO certifications on sustainability issues, best practices, and European directives and regulations. Simultaneously, it is a strategic tool for analyzing, managing, and communicating sustainability. On the Si Rating, Th Resorts received a rating of 70/100, and on the ESG criteria (environmental, social, governance) it obtained bronze level. The Group has further just released its first sustainability report, which was created in accordance with global reporting initiative international standards. 

Sustainability is guiding travelers' choices

“Sustainability - says the president of Th Resorts Graziano Debellini - is one of the values ​​that has always been part of our DNA. Today it has become a central issue and qualifies the company for its seriousness, vision and commitment. It is a strategic issue for all our stakeholders and increasingly important in guiding travelers' choices. For this reason we have embarked on a path supported by Arb, which is based on analyzes, measurements, reports and on a training programme aimed at all our staff.”

Transiting to a model without fossil fuels

With this in mind the Th Group is directing its energy choices toward green energy. Recently a ten-year agreement was signed with Dolomiti Energia, a long-standing partner, to ensure a completely green energy supply. "Globally, the tourism sector contributes 8% of emissions - says Debellini. - We are proud to be the only Group to have a totally green energy supply.  This has turned out to be even more strategic as not only does it significantly contribute to the transition to an economic model no longer based on fossil fuels, but also protects us from increases and price fluctuations.”

 

Covivio report confirms hotel property performance recovery in its latest quarterly report with igood news for the hotel sector, which accounts for 15% of the company's portfolio.

The Convivio group, whose main shareholder is Leonardo Del Vecchio's Delfin, confirms the recovery from the end of the 2021 financial year. What stands out in particular is the performance of hotel properties with variable revenues which recorded a 160% increase in flexible rents in France between January and March. By contrast, the collection rate for fixed rentals stands at 100%. 

New leasings for 31 hotels with 2,565 rooms

As the hotel segment experiences a rebound, Covivio is continuing its dynamic asset management strategy by leasing  31 hotel properties in France with B&B Hotels for a total of 2,565 rooms, already owned by Covivio and managed under various Accor brands like  Ibis, Novotel and Mercure. With the signing of the protocol Covivio and B&B Hotels committed to new fixed-rent contracts for 12 years with Covivio benefitting from a substantial increase in rent compared to 2019. 

Gross operating margins improve

In the second half of 2021 the hotel business posted +51% with gross operating margins (ebitda) under management contracts significantly improving (mainly in France and Germany, up 69% compared to the same period last year). Fixed rentals also increased by 8% following the relocation of a hotel in Madrid. 

The volume of hotel asset transactions in Italy is back to record levels according to the latest report from Cbre, the world’s leading commercial real estate services and investment company.

In 2021 hotel sales for a total of €1.9 billion were recorded, second only to the extraordinary 2019 figures, but 82% higher than 2020. The majority of transactions involved vacant possession of properties to be converted, or hotels to be rebranded and therefore in need of capital expenditure, many of them with luxury or trophy-asset potential.

The recovery for business hotels will be slower  

The resort segment (seaside, mountain, lake and countryside properties) that was seen as highly risky before the pandemic, is now increasingly becoming the focus of investors' interest. The trend in resorts is likely to continue in 2022, both for the luxury and midscale/upscale segments, due to the recovery expected for the summer season. While the recovery of business hotels in the main Italian cities will be slower, the future pipeline is also substantial, suggesting that the sector will perform well in coming months. 

Commercial real estate was up 13% in 2021

The commercial real estate sector in Italy showed clear signs of recovery in 2021, with total transacted volumes at €10.3 billion, up 13% on the previous year. The last quarter in particular saw €4.6 billion investments and 52% growth compared to the same period in 2020, with the reduction in the restrictive measures in the second half of the year boosting the recovery.

The French white label company Atalante Hotels, making its Italian debut, recently acquired the Savona Hotel in Alba, Piedmont. According to rumours from Mercure, which is an Accor Group brand, after renovation the property is expected to reopen in 2023.

The 92-room property will be the first 4-star hotel in Alba - which is about an hour from Turin - operated under an international brand.

Developing 3 and 4-star hotels in Italy

The Alba operation also marks the debut of Atalante Hotels Italia, with which the French company aims to develop throughout the country acquiring and managing 3 and 4-star hotels in the main Italian tourist destinations. The French group currently boasts a portfolio of 19 operational and in-the-pipeline hotels, with a total of 1,400 rooms.