IHG has announced it will open a new InterContinental hotel in Rome in 2022, marking a welcome sign of confidence in the Italian tourism industry at these challenging times.
The announcement comes weeks after the signing of the Six Senses Rome, which is set to open in late 2021. IHG has a total of 44 luxury hotels in Europe, with another 17 luxury hotels in the pipeline to open in the next 3-5 years. In Italy, IHG has a portfolio of 29 hotels – across brands including Hotel Indigo, Crowne Plaza, Holiday Inn and Holiday Inn Express – and further four in the pipeline.
The luxury hotel will be set on the iconic Via Veneto, in the Ludovisi area of the city, close to the Villa Borghese. Designed in the early 1900s by architect Carlo Busiri Vici in the neo-renaissance style, the palazzo building was originally home to ambassadors staying in Rome, opening as a hotel in 1993. The existing property – which includes 160 rooms and suites, a restaurant, bar, spa and public areas – will see a multi-million Euro investment in order to restore the property.
Guests will benefit from its proximity to the city’s wealth of art and history, thanks to a prime position less than a kilometre walk from the Galleria Borghese, the Spanish Steps and the Trevi Fountain. The hotel can be easily reached from Rome’s Ciampino or Fiumicino international airports and is less than 10 minutes from the city’s main rail station.
IHG joins a strong consortium including the US-based fund, Oaktree, Westmont Hospitality Group, strategic investment partner and operator, and UniCredit S.p.A, the project’s senior lending bank. The project is held by a newly established real estate investment fund managed by Milan-based Castello SGR, one of Italy’s premier real estate management companies.
“The signing of an InterContinental in Rome represents an important moment in the growth of our luxury portfolio and brand presence across Europe. In these challenging and unprecedented times, this signing shows the continued trust our Owners and partners place in IHG and our brands. We are delighted to partner with Oaktree Capital and Westmont Hospitality Group and look forward to offering InterContinental guests a rich and unforgettable experience in the Eternal City,” said Willemijn Geels, Vice President of Development, Europe, IHG.
These recent signings in Rome are the latest in a string of developments for IHG’s global luxury portfolio, including InterContinental Khao Yai Swan Lake Resort in Central Thailand, InterContinental Chiang Mai Mae Ping Hotel and Regent Shanghai Pudong.