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Corinthia Hotels: new openings NYC and Rome pipeline

Just a few days ago Corinthia Hotels (MSE: IHI), the Maltese hotel group, announced the expansion of its activities on US soil with the acquisition of the management of “The Surrey”.

The New York complex is a 5* of 97 keys, acquired in 2020 by Reuben Brothers and which will undergo a complete refurbishment process. The opening of the facility is scheduled for 2023.

A similar operation on Italian soil saw Reuben Brothers acquire the former headquarters of the Bank of Italy (7.5 thousand square meters) located in Piazza del Parlamento, in Rome, with the aim of converting the building into a 5* hotel to be managed, again, by Corinthia Hotels.

The Capitoline structure would set the official entry of the Corinthia group on Italian soil.

The group currently holds 9 structures (St. Petersburg, London, Lisbon, Budapest, Prague, 2 in Malta, Khartoum, Tripoli) and laid down a fairly rich pipeline of new openings (Brussel, Moscow, Dubai, Bucharest).

Reuben Brothers has a hotel portfolio distributed over several foreign locations (Ibiza, USA, UK, Switzerland) while, on Italian soil, it currently has 5 structures, 2 of which in Venice (Baglioni Hotel Luna, 5* with 93 keys, Palazzo Experimental, 4* with 33 keys), 1 in Rome (the aforementioned conversion project of the former Bank of Italy headquarters), the Hotel La Palma di Capri with 77 keys and last, in Sanremo, the Hotel De Paris (4* of 30 keys) and a development project of a 4* of 114 keys in the tourist port of the city.