In an Italy24 interview, Paul Arnold, VP of development in Europe and Africa for Rosewood Hotels & Resorts, said the company, which is a subsidiary of Hong Kong's Chow Tai Fook Enterprises, is looking at Italy for growth, particularly the country's major cities, as it finalizes a deal in Rome.
“Italy is an extremely interesting and important market for us, after Montalcino and Rome we are also looking at Milan, Florence and Venice,” he said. Rosewood currently manages one hotel in Italy, Rosewood Castiglion del Bosco, in Montalcino.
According to Italy24, Rosewood is on the cusp of finalizing an agreement to convert the State Printing Office in Piazza Verdi, Rome, into a 200-room hotel. Last November, a letter of intent was signed between Residenziale Immobiliare 2004 S.p.A.—75-percent controlled by Cdp Immobiliare (part of Cassa Depositi e Prestiti) and 25-percent owned by Fratini’s Finprema S.p.A.—and Rosewood group.
In September, HOTEL MANAGEMENT spoke to Rosewood's COO Symon Bridle, who told us that, "In Europe, we'd like to put a foothold into Germany, and a further foothold into Italy.
"When we look at Europe, we've got good activity. We're very close to announcing some additional deals there.
"When you're moving into different markets like Europe, it's a different thought process," he went on. "It may be through a fund that is running it and they're looking for a commercially driven relationship. They want that uniqueness in the property, but they also really want to make sure that the company they go with can deliver the numbers."
According to Rosewood's website, the company currently has a portfolio of 18 hotels, with 15 more in some stage of development.