Italian hotel company, Baglioni Hotels & Resorts, and Mexican player, Palace Resorts, have joined in a strategic financial partnership to export Italian luxury hospitality around the world. Palace Resorts has become the majority shareholder of Baglioni’s holding company by acquiring 75% of the company.
The new partnership will permit Baglioni Hotels & Resorts to further develop in the US market, which represents 70% of Palace Resorts’ business. It will also give the Italian company access to the over 75,000 members of Palace Elite Vacation Club. Additionally, it will benefit from increased efficiency, a drop in operational costs and new profitable openings in Italy and Europe through direct acquisition from Palace Resorts’ Real Estate division. Guido Polito will remain CEO of Baglioni.
From the Mexican company’s point of view, the partnership will add a luxury European brand to its portfolio, and it will also enjoy the addition of an experienced and professional management team to manage future investments in Europe, Asia, and the Middle East. Finally, it will allow Palace Resorts to diversify its offer in markets where it is already a leader, such as the Americas and the Caribbean.
Charles de Ros Wallace of Geskaria Investments and Avv. Paolo Casucci of CDT Advisory have acted as advisors for the operation. Legal advice for the Baglioni Group was handled by Studio Legale Casucci Di Tardo & Associati.
I am honoured that the Chapur family has recognised Baglioni Hotels & Resorts as primary luxury European brand seeing the potential that we still have for further developments in Italy and in other key international destinations. Remaining CEO of the group will allow me to continue, together with Mr. Giuliano Rocchi, Vice-President, and all the management team, to take forward the work that my father Roberto Polito and I have passionately done over the years, making Baglioni the most renowned and respectful Italian luxury hospitality brand.
Guido Polito, CEO of Baglioni Hotels & Resorts
It is such an honour for us, the Chapur Family, to take our Company to a global reach through Baglioni Hotels & Resorts. We invested in this great Italian Collection for many reasons, starting with the kindness and great execution ability of its staff in and out of the hotels, and it will be a pleasure to keep collaborating with our new partner and CEO, Guido Polito, who has taken the Group to worldwide recognition with the Italian spirit in every detail of guests’ experience. We will grow our investments in Europe, Asia, and the Middle East with the very much capable team of professionals that work at Baglioni by taking also the Le Blanc and Moon Palace Brands to this side of the world. This acquisition will also allow our Vacation Club members to travel to our new properties around the globe.
Gibran Chapur, Executive Vice-President of Palace Resorts
