The Dorchester Group, the London-based hotel property and management company wholly owned by The Brunei Investment Agency, the investment arm of the Government of Brunei, has announced that it has successfully completed the transaction to purchase the Hotel Principe di Savoia in Milan, Italy. The Hotel has been purchased from Starwood Hotels & Resorts Worldwide, Inc. and was part of their Luxury Collection brand. The Dorchester Group will also assume full management of the hotel which will be marketed by Leading Hotels of the World.
Hotel Principe di Savoia is ranked among the world’s best hotels and has an international reputation as one of the finest destinations in Europe, with exclusive services and an extensive spa facility.
The hotel’s Club 10 Fitness and Beauty Centre, situated on the top floor of the hotel, covers an area of 1,000 sq-m and includes an indoor heated pool with whirlpool, sauna, massage treatments and steam room. The beauty area presents a hairdressing salon and solarium, together with personalised treatments and exclusive products prescribed by the prestigious international cosmetic company `mise en beauté`, using the most advanced scientific research and technology currently available.
Located on Milan`s Piazza Della Republicca, the five star deluxe Hotel Principe di Savoia originally opened in 1927 and was meticulously restored just over ten years ago. Of the 404 guest rooms and suites, the Presidential Suite is world-renowned. Located on the rooftop, the 490 sq-m suite comes complete with a private pool, Turkish bath, Jacuzzi, sauna, private lift and Terrace.
Announcing the acquisition, Ricci Obertelli, Director of Operations for the Dorchester Group said, “The Hotel Principe di Savoia is, strategically, a fantastic acquisition for the Group. Milan is a gateway city that has long been high on the Dorchester Group`s list of priorities and, when a property as outstanding as this comes on the market, you do not hesitate. It meets our requirements in every way. The hotel has tremendous potential for a good financial return and enjoys a superb location in a key city for us.
“It has a sense of tradition and history and is architecturally of interest. We have no doubt that the Dorchester Group`s loyal following of guests will appreciate what is, in all aspects, a perfect addition to our small collection of luxury hotels.”
Obertelli went on to say, “We are delighted that Paolo Guarneri will continue in his position. He has been General Manager for the past 11 years and is a general manager with an excellent reputation internationally.”
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 collection of hotels consists of The Dorchester in London, The Beverly Hills Hotel in Los Angeles, the Hotel Meurice in Paris, the Hotel Principe di Savoia in Milan, all of which are owned and managed by the Group, and the Hotel Plaza Athenee in Paris, which is under a management contract to the Group.