Palace Resorts to acquire Baglioni Hotels.

Palace Resorts, a resorts chain operator, agreed to acquire Baglioni Hotels, an Italian luxury hospitality company. Financial terms were not disclosed. “I am honoured that the Chapur family has recognized Baglioni Hotels & Resorts as the primary luxury European brand, and identified the potential that we still have for further developments in Italy and in other key international destinations. Remaining CEO of the group will allow me to continue, together with Mr. Giuliano Rocchi, Vice President, and all the management team, to take forward the work that my father Roberto Polito and I have passionately done over the years, making Baglioni the most renowned and respectful Italian luxury hospitality brand,” Guido Polito, Baglioni CEO.