The Rocco Forte Hotels group lands in Milan with the aim of inaugurating a new hotel in the early months of 2023. The operation is the result of an agreement with the real estate company of the Reale Group company and replicates the project of Hotel de la Ville in Rome , inaugurated in 2019 after an important renovation of the property by Reale Group.
Once the works were completed, the management of the de la Ville was entrusted to the group founded by Sir Rocco Forte. The Milanese operation will proceed according to a similar scheme, the property being renovated is the current Baglioni Hotel Carlton which has a double entrance in via Senato and via della Spiga. The works will begin in 2021 and at the end of the redevelopment works, a new 5-star hotel is expected to open in 2023, which will have approximately seventy rooms and suites, a restaurant, a lounge bar, a wellness center with gym and spa, a bar with a rooftop terrace.
The new hotel will be called The Carlton Milano and for the Rocco Forte Hotels group it constitutes the seventh property in Italy, thus joining the hotels in Florence, Rome, Puglia and Sicily. The opening in Milan will further shift the group’s center of gravity towards Italy , so much so that the expected total turnover will be generated for about 50% on the Italian market. The remaining 50% of revenues (the latest balance sheet had a turnover of around £ 250 million, or around € 228 million) will be attributable to the other 9 hotels of the group, present in Europe, Russia and China.
Ongoing projects include the renovations of Villa Igiea in Palermo and The Westbund in Shanghai. Both hotels will reopen in 2021, once fully renovated. Moreover, next year for many operators in the sector it is destined to be the year of a desirable recovery, the health emergency and the lockdown are creating unprecedented effects for hotel businesses and the year 2020 is now considered compromise.
A scenario where Rocco Forte Hotels is also forced to deal with the closure of many of the current 15 structures and a drop in revenues, since 45% of the group’s turnover is attributable to North American customers and this year the flow of American tourists to the Old Continent will mark an all-time low.
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