Hotel Principe di Savoia In Milan
|Dorchester Group Bids to Buy Hotel Principe
di Savoia In Milan
LONDON, March 5, 2003 - The Dorchester Group, the London-based hotel
property and management company wholly owned by The Brunei Investment Agency,
announced today that it has entered into a binding agreement to purchase
the Hotel Principe di Savoia in Milan, Italy. Effective upon completion
of the transaction, the Dorchester Group will assume the full management
of the hotel.
"This was a rare and very timely opportunity to buy an outstanding property which matched our acquisition requirements in every way -- The Principe di Savoia is an excellent investment with potential for a good financial return, it enjoys a superb location in a gateway city, has a sense of tradition and history, and is architecturally of interest. I have no doubt that our loyal following of guests will appreciate what is, in all aspects, a perfect addition to our small collection of outstanding hotels," says Ricci Obertelli, Director of Operations for the Dorchester Group.
Located on Milan's Piazza Della Republicca, the five star deluxe Hotel Principe Di Savoia was meticulously restored to the highest standards just over ten years ago. The hotel was opened in 1927. The 404 spacious guest rooms and suites are furnished in an elegant 19th century Lombard style and equipped with the latest communications technology. The world-renowned Presidential Suite offers 500 square metres of pure luxury, with its own private pool. Food and Beverage facilities are extensive, with four restaurants, including the Michelin-starred Altro-Luogo Aimo E Nadia Restaurant. The hotel also boasts an extensive Spa with swimming pool. There are 17 private meeting and banqueting rooms.
The Dorchester Group was established in 1996 as an independent UK registered company to manage an evolving international collection of luxury hotels. The Dorchester Group is wholly owned by The Brunei Investment Agency, which is the strategic investment arm of the Ministry of Finance of the Government of Brunei and is charged with managing Brunei Government assets overseas.
The Dorchester Group's mission is to manage and, where appropriate, own an impeccable portfolio of the finest "grand" hotels in Europe and the United States, with a commitment to preserving and maintaining the highest possible standards of service and excellence. Its intention is to bring together, over a period of time, a select number of the world's premier hotels, cultivating their reputations for individual character, friendly and caring staff, beautiful and comfortable accommodation with the highest quality food and service in superb locations.
The Dorchester Group collection of hotels consists of The Dorchester in London, The Beverly Hills Hotel in California and the Hotel Meurice in Paris, all of which are owned and managed by the Group, and The Plaza Athenee in Paris, which is under a management contract to the Group.
|Martine de Geus
3 Tilney Street
London W1Y 5LE
Telephone: +44 (0)20 7317 6424
|Also See||The Brunei Investment Agency Appoints the The Dorchester Group to Manage Hotel Plaza Athenee in Paris / Feb 2001|
|Starwood Actively Marketing CIGA Portfolio of 25 Luxury Hotels / Jan 2002|
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