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Rocco Forte’s Italian portfolio: development and performance

Rocco Forte, in partnership with Generali Real Estate, will develop a new serviced apartment complex in Milan.

The opening follows another alike-concept property, inaugurated in October 2019, in Piazza di Spagna (Rome).

Since its inauguration, the Rocco Forte House Rome has recorded a total turnover of EUR 378 thousand, approx. 76 thousand per key (balance closed on 30 April 2020). In the same period, it also recorded an overall negative EBITDA of EUR -178 thousand.

In Milan too, Rocco Forte has in pipeline (2023) the rebranding of the Carlton Hotel Baglioni, 5* with 89 keys. The property redevelopment (in via Manzoni 46) which will host the Rocco Forte House Milan will be carried out in partnership with Generali Real Estate and the Effepi Real Estate fund, owner of the asset.

The Milanese new entry will be equipped with eleven apartments with one, two or three bedrooms, all with large living spaces, a separate kitchen, and a laundry area.

There will also be a gym and a café in the internal courtyard on the ground floor with also a panoramic roof terrace which will be open to the public.

Rocco Forte Hotels includes Hotel de la Ville, Hotel de Russie and Rocco Forte House Rome; Hotel Savoy, Florence; Verdura Resort, Sicily; Masseria Torre Maizza, Puglia; Villa Igiea, Palermo; The Balmoral, Edinburgh; Brown’s Hotel, London; The Charles Hotel, Munich; Villa Kennedy, Frankfurt; Hotel de Rome, Berlin; Hotel Amigo, Brussels and Hotel Astoria, Saint Petersburg.

Upcoming openings: The Westbund Hotel in Shanghai in 2021, The Carlton Hotel Milan and Rocco Forte House Milan in 2023.