Shaner acquires Il Ciocco Hotel & Resort, forms Shaner Italia

Shaner Corporation has formed a new division, Shaner Italia, to own and operate hotels in Italy and has formed its first joint-venture acquisition there. The company has acquired a major ownership position in Il Ciocco Hotel & Resort, a 180-room luxury resort in Barga, Italy, in the Apennine Mountains of the Tuscany region. The original owners, the Marcucci family, a prominent Italian family, will retain an ownership interest in the property.

The hotel will undertake a multi-million Euro renovation and convert to Marriott’s Renaissance brand late this year or in early 2012 under the name Renaissance Il Ciocco Tuscany Resort & Spa. Shaner Ciocco, a subsidiary of Shaner Italia, will manage the five-star level hotel.

“There is growing worldwide demand for internationally recognized hotel brands,” said Lance Shaner, chairman and CEO of SHG. “Italy is a great hotel market but requires strong local knowledge for long-term success. Over the next several years, we intend to partner with local owners/investment groups to develop or acquire up to five hotels. We will focus on Marriott-branded hotels, looking at major cities and resort areas primarily in Tuscany and then eventually expanding to other parts of Italy. We will look for opportunities ranging from luxury hotels to upscale focused-service properties.”

The transaction grew out of Shaner’s close working relationship with the University of Delaware where Shaner operates the on-campus Courtyard and provides the school’s hospitality majors with an opportunity to gain hands-on experience under a special arrangement between Shaner and the university. The Marcucci family is a major proponent in elevating hotel academics in Italy and was impressed by Shaner’s interactivity with the university.

“We could easily see how well the program worked between the university and students and with the systems and people that Shaner had operating the hotel,” Marialina Marcucci said. “We work closely with the Campus Golf & Tourism Academy in nearby Lucca, Italy and are confident that Shaner’s leadership and experience in training students could be transferred here and that this joint-venture partnership would create a win-win situation as an investment and to further hospitality education in Italy.”

Shaner Italia currently is looking at a number of properties and sites, primarily in Tuscany. “We have a long and mutually rewarding history with numerous Marriott brands and believe affiliation with the Renaissance brand will have a positive impact on both occupancy and room rate,” said Plato Ghinos, Shaner Corporation’s senior vice president, franchise relations & development.

“This will be the second Renaissance-branded hotel in the country. The Marriott brands are globally and locally well regarded, and we believe there are significant opportunities to expand with a number of brands there. We have a healthy appetite to become a major owner/operator in Italy.”

The resort is situated within a 2,000 hectares private park and offers extensive indoor and outdoor sports activities, including horseback riding, swimming, a fitness center, a Daniela Steiner Beauty Spa, hiking trails, tennis and bocce courts and soccer fields. The resort also features a competitive Motor-cross track and SUV Rally Track. The property features extensive meeting facilities, including an 850-seat auditorium, two ballrooms and numerous smaller meeting rooms.

The hotel offers four food and beverage outlets, including Le Salette, an upscale restaurant featuring regional and international cuisine. The Veranda Restaurant offers stunning, panoramic views of the nearby Apuane Alps and La Cantinetta is a wine bar showcasing Tuscan wines, cheese and local products. The American Bar provides nightly piano entertainment.

Shaner Ciocco will oversee the resort’s renovation which will be completed in phases to minimize disruptions to guests. It will include a complete make-over of rooms, lobby and all public areas, meeting space and food and beverage facilities.


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