MILLENNIUM ACQUIRES BOSCOLO PALACE, ROME

Millennium & Copthorne is to purchase its first hotel in Italy via a wholly owned subsidiary. The group announced this week that Millennium Hotels Hotel Palace Holdings has signed a conditional purchase and sale agreement withGrand Hotel Palace to acquire the freehold of the 87-room Boscolo Palace Roma (part of Marriott International’sAutograph Collection) for €65.5 million. The sale of the hotel, which was constructed in 1927 in central Rome and recently underwent a renovation in 2010, is expected to complete during the second quarter of 2014.

Back