Milan, 14 November 2022 – Baglioni Hotels & Resorts, the leading Italian hotel company with presence in Rome, Florence, Milan, Venice, Sardinia, Apulia, London and Maldives, is pleased to announce a strategic financial partnership with the Mexican company Palace Resorts, the Luxury Resort Powerhouse. This structured initiative includes Palace Resorts becoming the majorirty shareholer of Cogeta Spa – holding company of Baglioni Hotels & Resorts – acquiring 75% of the company.
Guido Polito will remain CEO of the Italian group to give continuity to the great work done so far by leading the expansion of the companies brands through Europe, Asia and the Middle East.
This agreement brings Mutual benefitial advantages allowing Baglioni Hotels & Resorts to further develop in the US market which represents 70% of Palace Resorts business and also being able to reach their +75,000 Palace Elite Vacation Club Members rating Maldives and Italy as their first two dream destinations.
Additional benefits for the Baglioni Collection will be efficiency improvement, operational costs drop and, at the same time, new profitable openings in Italy and Europe through direct acquisition from the Real Estate division of Palace Resorts.
On the other side, Palace Resorts adds a luxury european brand to its current portfolio, gaining also an experienced and professional management team to handle future hotels, resorts and real estate investments in Europe, Asia and the Middle East. At the same time, Palace Resorts will bring to the Americas and the Caribbean the recognized Italian Brand to diversify the product offering for their members and clients in the destinations in where they are already leaders in the market.
“I am honoured that the Chapur family has recognized 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.” – said Guido Polito, CEO since 2011.
“It is such an honor 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.” – declared Gibran Chapur, Executive Vice President.
The deal is one of the major European operations in 2022 and has been originated and advised by Charles de Ros Wallace of Geskaria Investments and Avv. Paolo Casucci of CDT Advisory.
All the legal matters for the Baglioni Group have been advised by Studio Legale Casucci Di Tardo & Associati (CDT Legal) with the team lead by Avv. Mark A. S. Paolini and Avv. Silvia Gabbrielli.
Avv. Raffaella Sarro for the Trust Company managed all the trust issues.