Four-Star De-Luxe 75 Room Hotel in Turin, Italy For Sale with Scope to Upgrade to Five-Star

Location: In the Heart of Turin City – Piazza San Carlo – 2.8 km, Piedmont, Italy

Name: TBA

No. of Keys: 260+, including 20 suites

The Property: The hotel opened in 1976 and had a full renovation in 1996. The rooms are spacious. The hotel has a restaurant, two bars, seven meeting rooms, gym and parking. The hotel enjoys just under 80% occupancy and would give the new owner a yield of 5%.

Large conference facilities to hold upto 600 people, with full flexibility.

The area is famous for the royal residences the Savoy family built in Turin and Piedmont. In 1997, fourteen of them where declared as World Heritage Site by UNESCO.

The Royal Palace of Turin was the main residence of the family and the symbol of their power. The Palazzo Madama of Turin is an architectural and historic ensemble, nowadays it hosts the Museum of Ancient Art. The Reggia di Venaria Reale was, possibly, the biggest Savoy residence; it was used as a haunting residence. The Palazzo Carignano was the headquarters of the first Italian parliament. The Castello del Valentino today is part of the University of Turin. The Villa della Regina is in the top of a hill from where they used to control the city. SS

Main Photo: A room at this hotel

Tenure: Freehold

Brand/Management: Flag and management free…members of a marketing consortium

Financials: Financials available upon signing of a NDA

Current Owner: Private family…willing to sell just the asset, or a share-deal

Agent: Local agent is retained, in partnership with The Hotel Property Company

Guide Price: €10m

Guide Price per Key: €133,333

Date Posted: February 2020

THPT Comment: This is a great opportunity to acquire flag-free, four-star hotel in the centre of Turin, with the upside of giving the hotel an upgrade to five-star.

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This is a new feature on the THPT site…. Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”

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MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.