Malta-based Corinthia Hotels has teamed up with an international equity group to develop and operate a top-range hotel in the heart of Rome.

The new hotel will be in a historic palace formerly occupied by the Italian Central Bank in Parliament Square.

The property was acquired by equity and investment firm Reuben Brothers who contracted Corinthia to develop, lease and operate it as a luxury hotel. 

The 7,500 square metre property will feature guest suites and bedrooms, restaurants and bars wrapping around a central garden as well as a spa and rooftop amenities. 

Jamie Reuben, a principal at Reuben Brothers, said: “This acquisition and development is yet another milestone in establishing our global property footprint, and furthers our interests in Italy, which include the newly-opened Palazzo Experimental in Venice. Our objective here is to create the best luxury hotel in Rome”. 

Simon Naudi, CEO of Corinthia, said: “We are very pleased to have entered into these arrangements as developers and operators, adding yet another flag to our portfolio in one of the most visited cities worldwide. We are also especially proud of having established the foundations for a new partnership with the Reuben Brothers.” 

Conversion works are expected to start in 2020. 

Reuben’s has hotel investments and developments in several European cities, particularly London.   

Corinthia operates hotels in various capitals including London, Budapest, Prague, Lisbon, St Petersburg and Tripoli. It is also developing hotels in Brussels, Bucharest and Moscow and has hotels in Malta.   

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