Palace Resorts, the Luxury Resort Powerhouse, proudly announces the acquisition of Baglioni Hotels & Resorts, the leading Italian hotel company with presence in Rome, Florence, Milan, Venice, Sardinia, Apulia, London and Maldives.
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 dream destinations.
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 destinatios in where they are already leaders.
“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 an 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 Easte 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.
“ 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 all my 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.
Company Name: Palace Resorts
Contact Person: Vladimir Ortiz
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