Gruppo Statuto Plans To List Luxury Hotels Division
Published on May 6 2014 1:30 PM in Hotel
Gruppo Statuto, the owner of some of Italy's best known luxury hotels, including the Hotel Danieli in Venice and Four Seasons in Milan, is preparing a listing of the group amid rising investor interest in Italian luxury.
According to the Financial Times, Italian property entrepreneur Giuseppe Statuto has hired JP Morgan and Banca IMI to look at listing the business on the Milan stock exchange before the summer. People close to the matter told the paper that the estimated value of the group is expected to be in excess of €1.5 billion.
If it were to happen, the luxury hotel group will be spun out of Gruppo Statuto's residential and office property business into a newly formed company. This new company would reportedly also include hoots which are currently under construction in major cities such as the Mandarin Oriental in Milan.