The Reuben Brothers have acquired a historic property in Rome's centre, and have entered into contractual arrangements with Corinthia Hotels to develop, lease and operate it as a luxury hotel.
Situated on Parliament Square, the former seat of the Central Bank of Italy will be converted into a luxury destination. Within its 7,500 square metres will be elegant guest accommodation, a number of restaurants and bars wrapping around a central garden, as well as a spa and rooftop amenities.
“This acquisition and development is yet another milestone in establishing our global property footprint, and furthers our interests in Italy, which include the newly-opened Palazzo Experimental in Venice. Our objective here is to create the best luxury hotel in Rome," comments Jamie Reuben, a principal at Reuben Brothers.
Design work is commencing with immediate effect and works are expected to start in 2020.
The Rome acquisition is the latest addition to the Reuben’s existing pipeline of hotel investments and developments in the UK and Europe, including in Venice, Italy, Verbier, Switzerland, and in London Grosvenor Square Mayfair, The “In & Out Club” on Piccadilly, Great Marlborough Street in Soho and the Curtain Hotel and Members’ Club in Shoreditch .