Baglioni Hotels & Resorts to Launch New Locations in Europe and Italy

Following Palace Resorts’ acquisition of a controlling stake in Cogeta Spa, the holding company for the Italian hotel chain Baglioni Hotels & Resorts, the latter will launch new locations in Europe and Italy.

The companies stated in a statement that the partnership will result in “new successful openings in Italy and Europe through direct acquisition from the real estate sector of Palace Resorts.” Baglioni has locations in Rome, Florence, Milan, Venice, Sardinia, Apulia, London, and the Maldives.

The partnership is also anticipated to assist Baglioni in expanding its US clientele, which accounts for 70% of Palace Resorts’ revenue. Additionally, Baglioni will have access to the more than 75,000 members of the Palace Elite Vacation Club, who rank Italy and the Maldives as their top two “dream locations.” It is anticipated that Baglioni will also gain from increased productivity and decreased operating expenses.

The Chapur family owns Palace Resorts, which just purchased a 75% share in Cogeta Spa. Guido Polito, the CEO of Baglioni, announced that he would continue in his position and stated:

“I am honoured that the Chapur family has recognised Baglioni Hotels & Resorts as the primary luxury European brand, seeing the potential that we still have for further developments in Italy and in other key international destinations.”

In a statement the brands said: “Palace Resorts adds a luxury European brand to its current portfolio, gaining also an experienced and professional management team to handle future hotels, resorts and real estate investments in Europe, Asia and the Middle East.

“At the same time, Palace Resorts will bring to the Americas and the Caribbean the recognised Italian brand to diversify the product offering for [Palace Resort’s] members and clients in the destinations in which [Baglioni] are already leaders in the market.”