Return to our Home page Search
Click here for the hotel and hospitality news from around the globe Hotel, Travel and Hospitality Articles Videos and in-depth Interviews
Read more now
Read more now
Read more now
Millennium - Copthorne to acquire its first hotel in Italy.
Sunday, 2nd March 2014
Source : Millennium Hotels Hotel Palace Holdings

Millennium has entered into a conditional purchase and sale agreement with Grand Hotel Palace, a joint venture between a subsidiary of Boscolo Hotels Group and Pierre, for the acquisition by Millennium Hotels Hotel Palace Holdings of the freehold interest in the hotel currently trading as the Boscolo Palace Roma, a five-star property located in Rome, and its related business.

The purchase price is €65.5 million, payable in cash at completion, subject to standard purchase price adjustments. Completion of the acquisition is expected to occur during the second quarter of this year, upon fulfilment of the contractual conditions.

Situated on Via Veneto, the hotel offers 87 guest rooms and suites in the heart of one of Europe’s greatest leisure and business travel destinations. It is also very well situated to serve the needs of visitors to Vatican City.

 Built in 1927, the property was fully renovated to very high standards in 2010, under the direction of one of Italy’s foremost architects and designers, Italo Rota.

M&C Chairman Kwek Leng Beng said, “This acquisition adds an important new travel destination to M&C’s European portfolio. We have been seeking to establish a presence in Rome for many years, and this acquisition continues our strategy of selective growth through careful investment in key gateway cities. Rome is one of the most popular tourist destinations in the world, with Via Veneto being one the city’s most attractive streets. The hotel does not require material capital investment, having been very recently refurbished, or significant management infrastructure. Its location together with the quality of the product and its high service levels will enhance the Millennium brand experience and reputation.”

~ Important Notice ~
Articles appearing here contain copyright material. They are meant for your personal use and may not be reproduced or redistributed. While 4Hoteliers makes every effort to ensure accuracy, we can not be held responsible for the content nor the views expressed, which may not necessarily be those of either the original author or 4Hoteliers or its agents.

Learn more about DigiJames - in room technology
 Latest News  (Click title to read article)
News from around the EMEA region, July 22
Tuesday, 22nd July 2014

Emirates takes milestone delivery of 50th A380 aircraft, plus shortest A380 flight launched
Tuesday, 22nd July 2014

Hotel satisfaction reaches record high; Gen Y more critical but not necessarily less loyal
Tuesday, 22nd July 2014

Malaysia Airlines flight MH17 shot down from the sky, July 22
Tuesday, 22nd July 2014

Langham, Sydney closes its doors for an upgrading program
Tuesday, 22nd July 2014

© Copyright 4Hoteliers 2001-2014 ~ unless stated otherwise, all rights reserved.
You can read more about 4Hoteliers and our company here

Use of this web site is subject to our
terms & conditions of service and privacy policy