Italian real estate investor and developer Merope Asset Management will invest €100 mln in the renovation of a collection of historic villas in Rome to create the city's first Mandarin Oriental hotel, the company has announced.
The development will comprise the conversion of the ten Sallustian villas, located in via Sallustiana, via Boncompagni, via Piemonte and via Quinto Sella, a few steps from via Vittorio Veneto and the Spanish Steps.
The properties, which date back to the 19th century, were acquired by Merope in 2021 from Colony Capital.
They are located within a centuries-old park and are spread over an area of over 18,000 m2 which will be transformed into an 'urban oasis', according to Merope.
The hotel, which will be completed by 2026, will be the fifth Mandarin Oriental in Italy, after the properties in Milan and on Lake Como, and the already announced upcoming openings in Cortina d'Ampezzo and Porto Cervo.
As part of the agreement reached with Mandarin Oriental, Merope will not only manage the redevelopment and restoration of the ten villas, but will also take on the multi-year management of the new hotel structure.
After long discussions with the municipal administration, the Capitoline Assembly recently approved the proposal for a building permit with a relative change of use of the area, from residential to hospitality, a crucial step for the creation of the project.
Merope will thus be able to manage the individual villas as a single hotel structure, which will include 108 rooms and suites with an average room size of more than 40 m2. The hotel will also feature six restaurants and bars.
The project masterplan has been entrusted to BMS, while the interior design will be handled by award-winning French designers Gilles & Boissier. The F&B will be managed by Dimorestudio while Parc Nouveau will take care of the gardens.
Pietro Croce, founder and CEO of Merope Asset Management, said: 'We are particularly proud to be able to announce the collaboration agreement with Mandarin Oriental, which allows us to create an unprecedented project not only for the capital, but on a global level.
'The project will bring the Villini Sallustiani back to their original splendour, preserving their historical value, but with the ambition of transforming them into one of the most iconic accommodation facilities in our country and internationally.'
