Smeralda Holding Partners with LVMH Hospitality for Romazzino & Pitrizza Hotels
Sardegna Resorts S.r.l., a Smeralda Holding Company wholly-owned by Qatar Investment Authority (“QIA”), has signed agreements with LVMH Hospitality Excellence, to manage two of the most renowned and exclusive hotels in Costa Smeralda.
Porto Cervo – Sardegna Resorts S.r.l., a Smeralda Holding Company wholly-owned by Qatar Investment Authority (“QIA”), has signed agreements with LVMH Hospitality Excellence, to manage two of the most renowned and exclusive hotels in Costa Smeralda.
LVMH Hospitality Excellence belongs to the world’s leading luxury group LVMH Moët Hennessy - Louis Vuitton.
The LVMH brand Belmond will manage the Hotel Romazzino, which will open for the 2024 season as the “Romazzino, A Belmond Hotel, Costa Smeralda.”
The Hotel Pitrizza will be managed by the LVMH brand Cheval Blanc. The hotel will continue to operate under its current name until 2026, when it will be rebranded as Cheval Blanc Pitrizza, Costa Smeralda, following the completion of the renovation works.
These changes are part of the Smeralda Holding Group’s long-term strategy to enhance and enrich Costa Smeralda as a best-in-class destination. This plan was launched in 2017 and includes, among others, tourism initiatives, the introduction of major F&B operators such as Nikki Beach, Zuma, Novikov, Beefbar and Matsuhisa and many more, while aligning with the unique character and heritage of the destination.
This new partnership will aim to bring further value to the local community, by bringing increased employment and development opportunities for staff. All employees will remain employed by Sardegna Resorts S.r.l., which will also retain ownership of the hotels’ property and businesses.
Through these agreements, LVMH intends to further strengthen its lead in experiential luxury with two new exceptional destinations in Sardegna that will benefit from all the know-how and expertise of the Belmond and Cheval Blanc brands. The two hotels will benefit from renovations allowing Belmond and Cheval Blanc to offer their future clients two new destinations in the heart of Sardegna, which is renowned for its dynamism, heritage, and exceptional landscapes.
Both hotels are located in the heart of Costa Smeralda and were designed in the 1960s by the architects Luigi Vietti and Michele Busiri Vici – who both contributed to the development of Porto Cervo. They both boast spectacular views facing pristine Mediterranean waters and celebrate the heritage of the region.
Smeralda Holding S.r.l. is an Italian company whose sole shareholder is Qatar Holding Smeralda Investment S.r.l., an indirect wholly owned subsidiary of Qatar Investment Authority (“QIA”). QIA is one of the world’s largest sovereign wealth funds which in 2012 acquired ownership of the real estate assets consisting of four hotels (Cala Di Volpe, Romazzino, Pitrizza and Cervo), the Marina in Porto Cervo (one of the most important ports in the Mediterranean), a shipyard, the Pevero Golf Club, plus other ancillary assets such as shops, offices, apartments, bars, restaurants, and 2,300 hectares of land in Costa Smeralda.