Pax Global Media
Palace Resorts has acquired Baglioni Hotels & Resorts, an Italian hotel company with properties in Rome, Florence, Milan, Venice, Sardinia, Apulia, London and the Maldives.
Guido Polito will remain CEO of the Italian group as the company continues the expansion of its brands through Europe, Asia and the Middle East, according to a press release issued Friday (Nov. 11).
The acquisition will enable Baglioni to expand to the U.S. market, which "represents 70 per cent of Palace Resorts’ business," and help the company reach the 75,000+ Palace Elite Vacation Club Members who rate the Maldives and Italy as their top two destinations.
Meanwhile, Palace will add a luxury European brand to its portfolio, while also gaining an experienced team to manage future hotels, resorts, and real-estate investments in Europe, Asia and the Middle East.
Palace plans to bring the Baglioni brand to the Americas and the Caribbean to “diversify the product offering for their members and clients in destinations where they are already leaders in the market,” the company said.
Le Blanc & Moon Palace going global
“It is such an honour for us, the Chapur Family, to take our company to a global reach through Baglioni Hotels & Resorts,” stated Gibran Chapur, executive vice-president of Palace Resorts.
Chapur said there were "many reasons" for the acquisition.
“Starting with the kindness and great execution ability of its staff both 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 the guests’ experience,” he said.
“We will grow our investments in Europe, Asia and the Middle East with the very capable team of professionals who work at Baglioni, by also taking 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.”
Mr. Guido Polito, CEO of Baglioni since 2011, said he was “honoured” that the Chapur family has recognized Baglioni as the primary luxury European brand, “and identified 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.”
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