{"id":1728,"date":"2017-12-24T19:46:25","date_gmt":"2017-12-24T17:46:25","guid":{"rendered":"http:\/\/www.smeraldaholding.com\/milan-finance-qatar-speeds-up-in-costa-smeralda\/"},"modified":"2017-12-25T11:17:21","modified_gmt":"2017-12-25T09:17:21","slug":"milan-finance-qatar-speeds-up-in-costa-smeralda","status":"publish","type":"post","link":"https:\/\/www.smeraldaholding.com\/en\/milan-finance-qatar-speeds-up-in-costa-smeralda\/","title":{"rendered":"Milan Finance: Qatar speeds up in Costa Smeralda"},"content":{"rendered":"
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Smeralda Holding, the subsidiary of the sovereign fund Emiratino, will invest 110 million. In the project the renewal and expansion of hotels and the upgrading of services. All in order to lengthen the season<\/h4>\n\r\n\t\t<\/div>\r\n\t<\/div>\r\n<\/div><\/div><\/div><\/div><\/div><\/section>
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The Costa Smeralda challenges Ibiza and other luxury tourism destinations with investments of \u20ac 110 million over five years. With a double objective: to improve structures and infrastructures to diversify the customer target and extend seasonality as much as possible. To explain it is Mario Ferraro, managing director of Smeralda Holding <\/strong>, a company that belongs to the sovereign fund of Qatar, which in 2012 took over from the Colony Capital of Tom Barrack the hotels Porto Cervo, Pitrizza, Cala di Volpe and Romazzino (for a total of 360 rooms) plus Marina di Porto Cervo (among the main tourist ports of the Mediterranean), the Pevero Golf Club, apartments, offices and shops as well as 51% of Land Holding (joint venture with Marriot) which holds 2,700 hectares of coastline, 10% building.<\/p>\n

The investments will primarily concern the hotels, including the Porto Cervo, already expanded in 2012-2014 by exploiting the house law. Attended by entrepreneurs, managers, politicians, actors, sports champions and even crowned heads, who spend at least one day in Costa Smeralda every year between July and August, are among the ten hotels with the highest average room revenue in the world, over 2 thousand euros on average per night, up to 30 thousand for villas. \u00abAll this thanks to the exclusivity of the area and the structures\u00bb, <\/em>underlined Ferraro, \u00abthat allowed the company to close 2016 with 87 million revenues, up 15% compared the year before, while profitability increased by 30% in two years’. <\/em><\/em><\/p>\n

What is still missing? Exactly the duration of the season: today runs from June to September and instead could be prolonged from April to November, but not without new events and recall initiatives. And then more tourists, essential to give body to the events mentioned, which obviously can not stand on Vips only. \u00abAll this already happens in other tourist destinations like some Greek islands, Saint Tropez and the French Riviera, Bodrum, Capri and above all Ibiza that attracts tourists from Sardinia all over the world\u00bb, <\/em> explained Ferraro, long-term manager of luxury hotels, from San Domenico in Taormina to Molino Stucky, from Venice Resort to Conrad Dubai. The first step as mentioned will consist in enhancing the existing, renovating and enriching the four hotels with spa signed, indoor pools, shops, but also new restaurants (now twenty) and bars with concepts that focus on local food or by importing international brands like Nobu and Buddha Bar.<\/p>\n

The focus on food and wine will be completed with the establishment of cooking schools. Outside the hotels, on the other hand, it will invest in new beach clubs for various customer segments, from families to young people to sportsmen. “Excluding the construction of other hotels, both to preserve the uncontaminated nature, the main attraction, and not to diminish the exclusivity of existing structures”, concludes Ferraro. All this, however, will not be enough if at the same time resources will not be invested on roads, parking lots and events, sports and cultural, from the tennis tournament to the literary prize to concerts on the beach. And this will be in charge of the Consorzio Costa Smeralda, of which Smeralda Holding <\/strong> is a 25% shareholder and Ferraro ad.<\/p>\n

by Teresa Campo<\/p>\n\r\n\t\t<\/div>\r\n\t<\/div>\r\n<\/div><\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"Smeralda Holding, the subsidiary of the sovereign fund Emiratino, will invest 110 million. 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