Swedish entrepreneur Conni Jonsson, CEO of the fund EQT Partners, announced his decision to invest (as reported by Il Sole 24 Ore) approximately EUR 30 million to convert the former Cirio factory in Porto Ercole into a 50-key 5 *. To this end, Jonsson founded a project-focused enterprise, Qarlbo, which bought the property and started with urban planning. The entrepreneur also acquired, still in Porto Ercole, the historic Don Pedro hotel, with 60 keys. The property will go through a profound restyling worth EUR 8 million, with the aim of transforming it into a 4* set to open in late 2022 – early 2023.