Aman Resorts is a hotel company based in Singapore that will open its first Italian hotel in Venice, on the Grand Canal. The inauguration of Aman Canal Grande will coincide with the beginning of the Biennale 2013. The hotel is being realized within a palace of the XVI century, halfway between the Rialto bridge and Academy bridge. The structure will have 24 rooms and two gardens on the Grand Canal. Aman Resorts has 25 hotels in the world, among which France, Turkey, Greece and Montenegro.
Fondo Strategico Italiano Enters First Hotel Investment
Italy’s sovereign wealth fund, Fondo Strategico Italiano, entered into its first hotel venture by investing in Rocco Forte Hotels. The $95 million investment will allow Rocco Forte Hotels to double its portfolio over five years as well of pay off a portion of its $167 million debt. Fondo Strategico Italiano will receive 23% stake in the company and will take on the role of a strategic investor. Fondo Strategico Italiano is comprised of two Italian banks, Cassa Depositi e Presiti and The Bank of Italy. It was established by the Italian government in 2011 to “invest in strategic Italian companies and assets.” The sovereign wealth fund intends to stay in the top end of the market, focusing on 3 and 4-star properties.
