Italy: The Grand Hotel Savoia & Savoia Palace is to be rebranded under the Radisson Collection and the Radisson brands, following renovation works, and is scheduled to open in 2021.
The resort includes a hotel and serviced apartments, with an overall key count of 170. It’s located in the city centre of Cortina d’Ampezzo.
Bain Capital Credit and Aquileia Capital Services were advised by CBRE in the selection of the brand to support the resort’s repositioning.
Elie Younes, executive vice president and chief develop officer at Radisson Hotel Group, said: “We are excited to enter Italy’s most renowned ski destination in preparation to co-host the Olympic Winter Games of 2026 together with Milan. Despite the global adversities, Italy remains a key focus market to harness and explore. We are extremely grateful to Bain Capital for the trust they have placed in Radisson Hotel Group, in our dedicated team and relevant brands.”
Giordano Nicoletti, director at CBRE Hotels EMEA, added: “Cortina d’Ampezzo has historically been one of the most renowned mountain destinations in Italy and its popularity among international customers has been recently boosted by its appointment as the host city of the Winter Olympic Games in 2026, alongside Milan. This international exposure, combined with the unique features of the Resort in terms of location, size and range of the facilities available, have generated a significant interest from major hotel brands.”
CBRE remarked how the level of interest recorded for this opportunity confirms the commitment of major brands in the Italian market. The country is seen as “a long-term and strategic destination, thanks to its outstanding landscapes, heritage and culture, but also for the performance achieved by the hotel sector which are among the highest across Europe.”
Rosewood Hotels & Resorts recently announced the opening its third property in Italy in 2022 on the island of Sardinia.