Photo: Corinthia Hotel, London
International Hotel Investments p.l.c. (IHI) has announced that it has entered into contractual arrangements to develop, lease and operate a luxury hotel in central Rome.
The arrangements comprise a development management agreement entered into by Corinthia Developments International Limited, and a lease agreement entered into by Corinthia Hotels Limited, both companies being 100% subsidiaries of IHI.
The agreements were entered into with the Reuben Brothers, the global property investors, who have recently acquired the property in question, the former seat of the Banca d’Italia, the Italian central bank and now being prepared for a full renovation and conversion to a 55-room luxury Corinthia Hotel.
Works on the property are expected to commence in 2020.