Rosewood takes aim at Italy for next wave of growth

The State Printing Office, in Piazza Verdi, Rome, is set to be converted into a Rosewood hotel. Credit: Italy24

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.

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


 

A video posted by Wagner Junior (@1wagnerjunior) on

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.

Suggested Articles

The hospitality procurement services provider has been making sure hotels have everything they need to maintain guest and employee safety.  

Champions For Better Business assists hotels with the logistics of removing furniture, fixtures and equipment as part of a renovation or conversion.

After launching in North Carolina, the brand will expand into Virginia, Tennessee, South Carolina and Texas.