Hermes-Sojitz International Investment Fund, an alliance of Asian and European shareholders based in China, is in the process of developing a boutique hotel brand for Northern Italy with 10 hotels under redevelopment for a late 2017 brand launch and further plans to initially grow the brand to 17 hotels with 25 to 50 rooms each.
In a September 20 release, Hermes-Sojitz said 10 antique palaces and palazzos are in the process of being redeveloped have be chosen for reconstruction and Naoki Matsumura, chairman of Hermes-Sojitz’s board of directors, says that the company is planning to create a large chain of boutique hotels.
At this stage the fund is on the lookout for unique real estate in Italy, particularly in its northern part, it said in a release. Old palazzos and ready-made boutique hotels supporting the overall concept are of main interest for Hermes-Sojitz.
The concept will combine an exclusive design and high standards of service provided by the top international hotel operator. A number of major global hotel operators have expressed their interest in the project, as well, according to the company release.
Matsumura notes that the tourist and commercial appeal of the project is mainly due to its location nearby the world famous resorts of France and Switzerland: Courchevel, Chamonix-Mont-Blanc and St. Moritz, as well as the fashion capital Milan.