Global real estate advisor CBRE has advised Bain Capital Credit and Aquileia Capital Services in the selection of the most suitable brand to support the repositioning of the Grand Hotel Savoia & Savoia Palace (the Resort).
The Resort is located in the city centre of Cortina d’Ampezzo, (in the hearth of Dolomites, UNESCO World Heritage site) a few steps away from Corso Italia. It enjoys state of the art facilities and, with an overall key count of 170, it is the biggest 5-star resort in the luxury destination. The Resort includes a Hotel and Serviced Apartments that will be branded respectively under the Radisson Collection and the Radisson brands following the renovation works.
“The closing of this exciting deal is a positive signal for the Hotel sector during these challenging times. Both Radisson Hotel Group and the Owner are fully committed to a grand opening for the 2021 winter season.”
Francesco Calia, Head of CBRE Hotels Italy.
"Cortina d’Ampezzo has historically been one of the most renowned mountain destinations in Italy and its popularity among international customers has been recently boosted by its appointment as the host city of the Winter Olympic Games in 2026, alongside Milan. This international exposure, combined with the unique features of the Resort in terms of location, size and range of the facilities available, have generated a significant interest from major hotel brands."
Giordano Nicoletti, Director, CBRE Hotels EMEA
“We are excited to enter Italy’s most renowned ski destination in preparation to co-host the Olympic Winter Games of 2026 together with Milan. Despite the global adversities, Italy remains a key focus market to harness and explore. We are extremely grateful to Bain Capital for the trust they have placed in Radisson Hotel Group, in our dedicated team and relevant brands.”
Elie Younes, Executive Vice President & Chief Development Officer, Radisson Hotel Group
The level of interest recorded for this opportunity, despite the recent COVID-19 outbreak, further confirms the strong commitment of major brands in the Italian market. This is mainly due to the fact that Italy is seen as a long-term and strategic destination, thanks to its outstanding landscapes, heritage and culture, but also for the performance achieved by the hotel sector which are among the highest across Europe.